Identifying and Prioritizing Factors Affecting Digital Entrepreneurial Marketing for the Third Millennium Generation in the Insurance Industry
Keywords:
Entrepreneurial marketing, digital marketing, digital entrepreneurial marketing, third millennium generation, insurance industryAbstract
This study aimed to identify, prioritize, and model the key factors influencing digital entrepreneurial marketing for the third millennium generation in the insurance industry. This applied research adopted an exploratory mixed-method design (qualitative–quantitative). In the qualitative phase, semi-structured interviews were conducted with 19 experts and specialists in the insurance industry, selected through snowball sampling until theoretical saturation was achieved. Data were analyzed using grounded theory through open, axial, and selective coding, resulting in 90 concepts grouped into 18 categories. In the quantitative phase, a 90-item questionnaire was developed based on the extracted constructs. Confirmatory factor analysis and structural equation modeling were employed to assess construct validity, model fit, and the relationships among variables. The results identified three core categories: innovation in insurance products, use of data and data analytics, and digital communications. Structural path coefficients indicated that causal conditions significantly influenced the core category (β = 0.51), which in turn significantly affected strategies (β = 0.54). Strategies had a direct significant effect on outcomes (β = 0.46), while intervening conditions (β = 0.43) and contextual factors (β = 0.40) also significantly impacted outcomes. All t-values exceeded ±1.96, confirming statistical significance. Fit indices including RMSEA, CFI, NFI, IFI, and SRMR demonstrated acceptable to excellent model fit. Digital entrepreneurial marketing in the insurance industry is a multidimensional construct shaped by the interaction of causal, contextual, and intervening conditions through strategic mechanisms that lead to measurable outcomes. Product innovation, data-driven decision-making, and digital communication constitute the central pillars of the model. The validated structural framework provides a robust foundation for strategic planning and digital transformation initiatives within the insurance sector.
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