Assessing the Impact of Digital Transformation on Customer Satisfaction in Marine Insurance Firms

Thesis Abstract

The rapid advancement of digital technologies has significantly transformed the operational landscape of marine insurance firms, raising critical questions about the impact of these innovations on customer satisfaction. In an increasingly competitive maritime industry, understanding how digital transformation initiatives influence client perceptions, loyalty, and overall satisfaction is essential for firms seeking sustainable growth and enhanced market positioning. This study aims to comprehensively assess the effect of digital transformation on customer satisfaction within marine insurance companies, focusing on technological adoption, digital service delivery, and customer engagement strategies. The specific objectives include identifying the key digital tools implemented by marine insurance firms, evaluating customer perceptions of these digital services, and examining the relationship between digital transformation and customer satisfaction levels. Employing a descriptive cross-sectional research design, the study collected quantitative data from a representative sample of 385 customers of marine insurance firms operating within the maritime hub of Port City. The sampling technique used was stratified random sampling to ensure representation across different customer segments, including individual ship owners, fleet managers, and corporate clients. Data were gathered through a structured questionnaire developed based on validated scales from prior studies on digital transformation and customer satisfaction, adapted to the maritime insurance context. The instrument demonstrated high validity and reliability, with a Cronbach’s alpha coefficient of 0.87. In addition, qualitative data were collected via semi-structured interviews with 15 key managerial personnel to capture deeper insights into digital strategy implementation and its perceived challenges. Data analysis involved descriptive statistics to profile customer demographics and perceptions, while inferential analysis utilized multiple linear regression to assess the relationship between digital transformation variables and customer satisfaction indices. Structural Equation Modeling (SEM) was employed to test the conceptual model derived from the Technology Acceptance Model (TAM) and Customer Satisfaction Theory, providing nuanced insights into the mediating effects of perceived ease of use and perceived usefulness of digital services. The analysis expected to reveal significant positive correlations between digital innovation adoption, such as online claim processing, digital policy management, and mobile app usage, and customer satisfaction scores. The anticipated findings suggest that digital transformation significantly enhances customer satisfaction levels by improving service efficiency, transparency, and accessibility. This relationship is mediated by customers’ perceptions of ease of use and usefulness, aligned with TAM’s propositions. Furthermore, the study expects to identify specific digital tools with the most substantial impact on satisfaction, guiding marine insurance firms on strategic investment priorities. These insights aim to bridge existing gaps in the literature concerning industry-specific digital transformation outcomes, particularly within the maritime insurance sector, thus contributing to both academic knowledge and practical application. The study offers a valuable contribution to the understanding of how digital initiatives influence customer perception and loyalty in a niche sector, extending existing models by contextualizing them within marine insurance. The findings are intended to inform industry stakeholders on effective digital strategies that enhance client experience and competitive advantage. Policy implications include the need for tailored digital literacy programs for clients and continuous technological innovation aligned with customer feedback. In conclusion, this research underscores the vital role of digital transformation in shaping customer satisfaction in marine insurance, emphasizing the importance of strategic digital investments and customer-centric digital service design. It advocates for ongoing digital innovation and stakeholder engagement to sustain high satisfaction levels. Future research avenues include longitudinal studies to monitor digital transformation effects over time and comparative analyses across different geographical regions, further enriching the discourse on technological innovation and customer relationship management in the maritime industry.