Sustainability practices and customer loyalty in the insurance industry: A PLS-SEM-approach
Prácticas de sostenibilidad y lealtad del cliente en la industria aseguradora: un enfoque PLS-SEM
Abstract (en)
This study examines the relationship between sustainability practices and customer loyalty in the Nigerian insurance industry, specifically investigating how perceptions of corporate social responsibility (CSR), environmental sustainability practices (ESP), and perceived ethical behavior (PEB) influence customer loyalty through the mediating role of customer trust. A quantitative cross-sectional survey design was employed with 700 insurance customers in Nigeria who had maintained active policies for at least three years. Data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 4.0 software. The study tested a comprehensive theoretical model integrating stakeholder theory, social exchange theory, relationship marketing theory, and signaling theory. The results provide strong empirical support for all hypothesized relationships. Corporate social responsibility (β = 0.307, p < 0.001), environmental sustainability practices (β = 0.238, p < 0.001), and perceived ethical behavior (β = 0.252, p < 0.001) all showed significant positive effects on customer trust, which, in turn, exhibited a substantial positive effect on customer loyalty (β = 0.618, p < 0.001). Mediation analysis indicated that sustainability practices influence customer loyalty primarily through trust-building mechanisms, with indirect effects ranging from 0.147 to 0.190 and substantially exceeding the direct effects. The model explained 37.5 % of the variance in customer trust and 45.5 % of the variance in customer loyalty, indicating moderate explanatory power. Overall, the findings provide strong empirical evidence that sustainability practices are positively associated with customer loyalty in the Nigerian insurance industry through trust-building mechanisms. This study extends the literature on sustainability and relationship marketing by providing evidence from the Nigerian insurance sector using a comprehensive PLS-SEM mediation model.
Abstract (es)
Este estudio examina la relación entre las prácticas de sostenibilidad y la lealtad del cliente en la industria aseguradora de Nigeria, investigando específicamente cómo las percepciones sobre la responsabilidad social corporativa (RSC), las prácticas de sostenibilidad ambiental (PSA) y el comportamiento ético percibido (CEP) influyen en la lealtad del cliente a través del papel mediador de su confianza. Se empleó un diseño de encuesta cuantitativo y transversal con 700 clientes del sector asegurador en Nigeria que habían mantenido pólizas activas durante al menos tres años. Los datos se analizaron mediante modelado de ecuaciones estructurales por mínimos cuadrados parciales (PLS-SEM), utilizando el software SmartPLS 4.0. El estudio evaluó un modelo teórico integral que integra la teoría de los grupos de interés, la teoría del intercambio social, la teoría del marketing relacional y la teoría de la señalización. Los resultados proporcionan un sólido respaldo empírico a todas las relaciones planteadas en las hipótesis. La responsabilidad social corporativa (β = 0.307, p < 0.001), las prácticas de sostenibilidad ambiental (β = 0.238, p < 0.001) y el comportamiento ético percibido (β = 0.252, p < 0.001) mostraron efectos positivos significativos sobre la confianza del cliente, la cual, a su vez, presentó un efecto positivo considerable sobre la lealtad del cliente (β = 0.618, p < 0.001). El análisis de mediación indicó que las prácticas de sostenibilidad influyen en la lealtad del cliente principalmente a través de mecanismos de generación de confianza, con efectos indirectos que oscilaron entre 0.147 y 0.190 y que fueron considerablemente superiores a los efectos directos. El modelo explicó el 37.5 % de la varianza de la confianza del cliente y el 45.5 % de la varianza de la lealtad del cliente, lo que indica una capacidad explicativa moderada. En conjunto, los hallazgos proporcionan evidencia empírica sólida de que las prácticas de sostenibilidad se asocian positivamente con la lealtad del cliente en la industria aseguradora de Nigeria a través de mecanismos de generación de confianza. Este estudio amplía la literatura sobre sostenibilidad y marketing relacional al aportar evidencia del sector asegurador nigeriano mediante un modelo integral de mediación PLS-SEM.
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