Proceedings of 1st Annual International Conference: A transformative Education: Foundation & Innovation in Guidance and Counseling (AICGC 2022)

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Factors Affecting Loyalty in the Insurance Sector

Authors
Rakesh Sitepu1, *, F. S. Beby Karina1, Arlina Nurbaity Lubis1, Endang Sulistya Rini1
1Faculty of Economic and Business, Universitas Sumatera Utara, Medan, Indonesia
*Corresponding author. Email: rakeshsitepu@gmail.com
Corresponding Author
Rakesh Sitepu
Available Online 10 April 2023.
DOI
10.2991/978-2-38476-030-5_18How to use a DOI?
Keywords
BPJS Ketenagakerjaan; Factor Analysis; Insurance and Loyalty
Abstract

Insurance is different from other service-based business models because it takes on risks from third parties. If insurance companies aren’t run well, they can become very risky. It was also shown that insurance is built on the trust of the public. The job of the insurance company is to collect money from the public, and the money collected is entrusted to the competent management of the insurance business so that participants’ claims for services they should get can go smoothly. Most of the insurance sector’s assets are in social insurance, which includes BPJS Health and BPJS Ketenagakerjaan. The BPJS Ketenagakerjaan institution runs a public program to protect workers from certain social and economic risks. It does this by using a social insurance system. At BPJS Ketenagakerjaan, they are building a culture of loyalty. For this study, in-depth interviews were used, and factor analysis was used to figure out what the results meant. The results of this study’s factor analysis of the indicators that were suggested to the respondents showed that the variables of customer retention, recommendation use, and customer rewards can make participants in BPJS Ketenagakerjaan feel more loyal.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of 1st Annual International Conference: A transformative Education: Foundation & Innovation in Guidance and Counseling (AICGC 2022)
Series
Advances in Social Science, Education and Humanities Research
Publication Date
10 April 2023
ISBN
978-2-38476-030-5
ISSN
2352-5398
DOI
10.2991/978-2-38476-030-5_18How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Rakesh Sitepu
AU  - F. S. Beby Karina
AU  - Arlina Nurbaity Lubis
AU  - Endang Sulistya Rini
PY  - 2023
DA  - 2023/04/10
TI  - Factors Affecting Loyalty in the Insurance Sector
BT  - Proceedings of 1st Annual International Conference: A transformative Education: Foundation & Innovation in Guidance and Counseling (AICGC 2022)
PB  - Atlantis Press
SP  - 151
EP  - 157
SN  - 2352-5398
UR  - https://doi.org/10.2991/978-2-38476-030-5_18
DO  - 10.2991/978-2-38476-030-5_18
ID  - Sitepu2023
ER  -