An Paradigm Model of Brand Value Creation in Insurance Industry with Focus on Life Insurance“Grounded Theory Approach”

The insurance industry is highly competitive and rapidly maturing, and the organizational structure and resources of companies lead to different value creation. insurance companies should take advantage of all opportunities available to gain customer confidence to attract customers. nowadays, if an organization fails to create value for its customers, it is out of the mind of the customer it will disappear from the market scene, hence one of the ways to create competitive advantage in today's highly competitive market creating value for customers. Keller believes that one of the ways to gain competitive advantage in today's highly competitive market is to create brand value, and therefore in this industry, creating brand value in shaping competitive advantage should be one of the most important requirements of insurance managers. The purpose of this study is to present a model of brand value creation in the insurance industry with emphasis on life insurance.

The researcher method used in this paper is a qualitative one with a grounded theory approach. The statistical population of the research consisted of the life insurance managers of three Sina, Passargad and Iran insurance companies. The researcher was using theoretical sampling and he did 17 interviews to get the data he needed to analyze.

The researcher conducted a conceptual model of interview analysis using open, axial, selective coding of his research results in a model consisting of six main dimensions and twenty-seven subscales.

Based on the analysis, it can be said that the most important ways to reduce the effect of inflation on life insurance premiums is to increase the annual premium in proportion to the inflation rate. That is, it may exist because by specifying the "premium adjusting rate" or "insurance capital" in the contract, the insurance premium payment premium and annual insurance obligations have increased over the previous year to insure the value to the customer be success.