A Multidimensional Analysis of Corporate Ethical Frameworks in Shaping Brand Equity and Consumer Engagement in the Sivagangai Insurance Companies

Abstract

This research explores how corporate ethical frameworks are used to determine brand equity and consumer interaction in insurance firms in the Sivagangai District of Tamil Nadu. Ethical behavior is a paramount factor of customer perceptions and lasting relationships, given that the insurance service is a trust-intensive activity. The research design is a mixture of a study, which combines the results of a survey where 320 insurance policyholders, as well as insurance agents, were surveyed, and semi-structured interviews among 12 insurance executives. Regulatory compliance, transparency, and corporate social responsibility are the dimensions used to conceptualize corporate ethical frameworks, whereas brand loyalty and perceived quality are used to measure brand equity using the brand equity model of Aaker. Consumer engagement is measured using interaction and advocacy measures. SPSS and AMOS are used to analyze qualitative data, implement reliability analysis, regression analyses, and structural equation modeling. All the findings indicate that brand equity dimensions are positively statistically impacted by ethical transparency and compliance (p < 0.05). Moreover, consumer engagement is a mediator between the ethical framework and brand equity to some extent. The results highlight that the practices of ethics are strategic branding tools and not compliance tools. The research gives workable information to the insurance firms operating in the region, aiming at consolidating brand equity and customer interaction in the semi-urban markets.