Document Type : Original Research Manuscripts


1 Department of Business Management, Rasht Branch, Islamic Azad University, Rasht, Iran

2 Associate Professor, Department of Business Management, Rasht Branch, Islamic Azad University, Rasht, Iran.


This research aims to design a data-driven value-creation model for insurance policyholders. It uses a mixed methodology (qualitative-quantitative). The statistical population was university professors in insurance and marketing and senior managers of Iran's insurance industry, including Asia Insurance, and Alborz Insurance. The saturation was reached with 12 university professors. To identify the influential factors in the data-driven value creation model for insurance policyholders, the Delphi technique was used in the form of theoretical consensus. The interpretative structural method was used for modeling. The studied structures to design and explain the value creation model for insurance policyholders in Iran's insurance industry include factors related to employees, policyholders, training, organization, management, and branding. Based on structural-interpretive modeling calculations, it was determined that the factors related to employees are external independent variables unaffected by any variable in the model. The factors related to employees and training are endogenous independent variables, and the factors related to the brand are dependent. Also, the factors related to insurance policyholders plays a mediating role. Researchers believe that the more organizations can gain a better understanding of customer needs, as well as the activities of competitors and factors affecting market conditions and distributing information at all levels of the organization, the more ability they will have to survive in the competitive market. 


Main Subjects

Aalizad, E., & Jong, A. (2017). An Analysis of the Gap between Expectations and Consumption: Satisfaction Assessment of Subscribers in Tehran Province. Journal of Strategic Management Studies, 8(31), 19-38.
Agrawal, A., Gans, J. S., & Goldfarb, A. (2019). Artificial intelligence: the ambiguous labor market impact of automating prediction. Journal of Economic Perspectives, 33(2), 31-50.
Åström, J., Reim, W., & Parida, V. (2022). Value creation and value capture for AI business model innovation: a three-phase process framework. Review of Managerial Science, 16(7), 2111-2133.
Benar, N., Brakhas, H., Karimkhan, F., & MORADI, M. (2018). The effect of sensory marketing on customer behavioral intentions through hedonic, place attachment and trust (Case study: Kermanshah Soccer Schools). Consumer Behavior Studies Journal, 5(1), 21-35.
Biemans, W., Malshe, A., & Johnson, J. S. (2022). The sales-marketing interface: A systematic literature review and directions for future research. Industrial Marketing Management, 102, 324-337.
Boadi, E. A., He, Z., Boadi, E. K., Antwi, S., & Say, J. (2020). Customer value co-creation and employee silence: Emotional intelligence as explanatory mechanism. International Journal of Hospitality Management, 91, 102646.
Bouncken, R. B., & Tiberius, V. (2023). Legitimacy processes and trajectories of co-prosumption services: insights from coworking spaces. Journal of Service Research, 26(1), 64-82.
Dalman, D, & Puranam, K. (2017). Consumer evaluation of ingredient brand choice strategy. Management Research Review, 40 (7): 768-782.
Eraj, H. & Ghoochani, F. (2017). Model for implementing human resource information systems in medium and large companies. Journal of strategic management studies, 8(29), 271-298. [in Persian]
Farahmand, A. A., Fallah-Shams, M. F., & Zomorodian, G. R. (2022). Identifying Factors Affecting Value Creation for Corporate Banking Customers. New Marketing Research Journal, 12(2), 1-20.
Gummesson, E. (2007). Exit services marketing-enter service marketing. Journal of Customer Behaviour, 6(2), 113-141.
Hassanzadeh, V., Hemmati, A., Sayahian Dehkordi, V., & Shatri, A. (2021). Investigating the importance of competitive intelligence in the insurance industry. Journal of Research and Studies of Islamic Sciences, 3 (28): 51-64.
Herjanto, H., & Amin, M. (2020). Repurchase intention: the effect of similarity and client knowledge. International Journal of Bank Marketing, 38(6), 1351-1371.
Isimoya, O. A., & Olaniyan, M. S. (2020). Impact of relationship marketing dimensions on word of mouth communication in the insurance industry in Nigeria. Acta Universitatis Danubius. Œconomica, 16(3).
Kajori, H., Mirabi, V., & Safarzadeh, H. (2021). Presenting the value creation model for customers, banks in the process of co-creating brand value (Case study: Shahr Bank). Business Management Quarterly, 49: 226-202. [in Persian]
Kordnaeij, A., Moshabaki Esfahani, A., & Asghari Goudarzi, F. (2022). Identifying the Antecedents of Value Co-creation in Startups in a Sharing Economy: A Mixed Approach. Journal of Entrepreneurship Development, 15(3), 563-582.
Kraus, S., Roig-Tierno, N., & Bouncken, R. B. (2019). Digital innovation and venturing: An introduction into the digitalization of entrepreneurship. Review of Managerial Science, 13(3), 519-528.
Lähteenmäki, I., Nätti, S., & Saraniemi, S. (2022). Digitalization-enabled evolution of customer value creation: An executive view in financial services. Journal of Business Research, 146, 504-517.
Lungu, M. F. (2018). Achieving strategic agility through business model innovation. The case of telecom industry. In Proceedings of the International Conference on Business Excellence (Vol. 12, No. 1, pp. 557-567).
Mohammadi, A., Alavi, S. M., & Pourmordini, G. (2019). Investigating the effect of loyalty programs on the loyalty of Asian insurance customers using the Salomon four-group plan. Business Management, 11(2), 259-276
Muhic, M., & Bengtsson, L. (2021). Dynamic capabilities triggered by cloud sourcing: a stage-based model of business model innovation. Review of Managerial Science, 15(1), 33-54.
Nylund, P. A., Ferras-Hernandez, X., & Brem, A. (2020). Automating profitably together: Is there an impact of open innovation and automation on firm turnover?. Review of Managerial Science, 14, 269-285.
Rintamäki, T., & Saarijärvi, H. (2021). An integrative framework for managing customer value propositions. Journal of Business Research, 134, 754-764.
Shabaninejad, I., Forough Nemat Elahi, B., & Mohammad Rezaei, M. (2018). The effect of entrepreneurial marketing on customer value with the mediating role of market orientation in SMEs. Journal of Marketing Management, 45: 89-73
Shaw, J., Rudzicz, F., Jamieson, T., & Goldfarb, A. (2019). Artificial intelligence and the implementation challenge. Journal of medical Internet research, 21(7), e13659.
Sjödin, D., Parida, V., Jovanovic, M., & Visnjic, I. (2020). Value creation and value capture alignment in business model innovation: A process view on outcome‐based business models. Journal of Product Innovation Management, 37(2), 158-183.
Taqvai Yazdi, M., &  Alboyeh, N. (2022). The effect of knowledge-based leadership on the value creation of organizational transparency with the mediating role of managers' metacognitive skills. Applied researches in management and humanities, 6:1-16. [in Persian]
Teece, D. J. (2018). Profiting from innovation in the digital economy: Enabling technologies, standards, and licensing models in the wireless world. Research policy, 47(8), 1367-1387.
Varadarajan, R. (2020). Customer information resources advantage, marketing strategy and business performance: A market resources based view. Industrial Marketing Management, 89, 89-97.
Visnjic, I., Jovanovic, M., Neely, A., & Engwall, M. (2017). What brings the value to outcome-based contract providers? Value drivers in outcome business models. International Journal of Production Economics, 192, 169-181.
Wang, T., & Lee, F. Y. (2020). Examining customer engagement and brand intimacy in social media context. Journal of Retailing and Consumer Services, 54, 102035.
Yen, C. H., Teng, H. Y., & Tzeng, J. C. (2020). Innovativeness and customer value co-creation behaviors: Mediating role of customer engagement. International Journal of Hospitality Management, 88, 102514.
Yi, Y., & Gong, T. (2013). Customer value co-creation behavior: Scale development and validation. Journal of Business research, 66(9), 1279-1284.