Exploring Consumer Opportunism Conundrum in the Insurance Industry: The Role of Marketing

Drawing from the extant literature, this paper explores the prevalent consumer opportunism in the insurance transactions, its links to consumers’ perception, and the relevance of marketing strategies in curbing the menace. It shows that insurance opportunism could be perpetrated by any party in the insurance transaction system and at any stage of the process involved. Among factors identified as prompting this conundrum are economic motive, resentment towards the insurance companies, laxity in the application processing/asymmetric information, and insiders’ collaborations. Nonetheless, the paper suggests that strong commitment of insurance marketers to creating and delivering value to the customers more robustly through a proactive and all-embracing implementation of marketing strategies vis-àvis relationship marketing could significantly enhance consumers’ positive perception of insurance business and consequently result in a healthier insurance industry.

Looking behaviour and preference for artworks: The role of emotional valence and location

The position of an item influences its evaluation, with research consistently finding that items occupying central locations are preferred and have a higher subjective value. The current study investigated whether this centre-stage effect (CSE) is a result of bottom-up gaze allocation to the central item, and whether it is affected by item valence. Participants (n=50) were presented with three images of artistic paintings in a row and asked to choose the image they preferred. Eye movements were recorded for a subset of participants (n=22). On each trial the three artworks were either similar but different, or were identical and with positive valence, or were identical and with negative valence. The results showed a centre-stage effect, with artworks in the centre of the row preferred, but only when they were identical and of positive valence. Significantly greater gaze allocation to the central and left artwork was not mirrored by equivalent increases in preference choices. Regression analyses showed that when the artworks were positive and identical the participants’ last fixation predicted preference for the central art-work, whereas the fixation duration predicted preference if the images were different. Overall the result showed that item valence, rather than level of gaze allocation, influences the CSE, which is incompatible with the bottom-up gaze explanation. We propose that the centre stage heuristic, which specifies that the best items are in the middle, is able to explain these findings and the centre-stage effect.