A Framework to model the monetary value of brands for insurance companies in Kenya

Abstract

The purpose of this study was to come up with a framework for measuring brand equity for insurance companies in Kenya. The concept of brand is widely gaining popularity and plays a role in consumer decision making. Managers are putting in hours of work to create a favorable brand name for their company with no precise way of measuring whether their efforts bear fruits. This study provides a means to measure those efforts for insurance companies in Kenya. In the efforts to meet the stated objective, I used the revenue premium approach and also investigated the role that brand plays in decision making. The study carried out investigations through the use of choice experiments and an analysis of financial statements belonging to 4 insurance companies.