The Impact of Blockchain Technology on Customer Loyalty in the Insurance Industry: The Mediating Roles of Transparency, Security, and Efficiency

This study investigates the impact of blockchain technology on customer loyalty in the global insurance industry, focusing on the mediating roles of transparency, security, and efficiency. Using data from 2000 customers worldwide, Structural Equation Modeling (SEM) reveals that blockchain technology significantly enhances customer loyalty, mediated by transparency, security, and efficiency. The findings suggest that insurers should prioritize blockchain adoption, enhance transparency, and ensure data security to foster customer loyalty. This study contributes to the literature by addressing the underexplored role of blockchain technology in the insurance sector and provides practical insights for insurance companies aiming to leverage blockchain for improved customer retention. Limitations include reliance on self-reported data and a cross-sectional design. Future research should explore longitudinal effects and cross-industry comparisons.