Factors related to insurance purchase intention in Thailand
Factors related to insurance purchase intention in Thailand
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2019
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eng
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8 pages
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Assumption University-eJournal of Interdisciplinary Research (AU-eJIR): Vol. 4. Issue.2 (2019), 122-129
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Abstract
The objective of this study was to determine the factors that influence
consumer purchase intention towards (non-life) insurance in Thailand, based on the
Theory of Reasoned Action model (Fishbein & Ajzen, 1980). Data were collected via
questionnaires applying convenience sampling method. Five hundred sets of
questionnaires were distributed to Thai citizens in Bangkok and nearby who would like
to purchase non-life insurance policy once the reliability and validity of the instrument
were established. A total of 385 questionnaires were completed and returned. The
independent variables were attitude towards product (insurance service provider’s
competence, consumers’ monetary attitude towards insurance, the positivity of
consumers’ insurance experience, the possibility to reduce the amount of premiums
payable for insurance, and the acceptability of insurance conditions) and subjective
norms. The dependent variable was insurance purchase intention. Frequency and
percentage were used to analyze demographic profile. Mean and standard deviation
were used to analyze respondents’ perception of main variables. Hypotheses were
tested with Pearson's correlation coefficient. The results from Pearson's correlation
coefficient demonstrated that attitude towards product in terms of acceptability of nonlife insurance conditions and subjective norms significantly related to intention to
purchase non-life insurance. However, attitude towards product in terms of
acceptability of non-life insurance conditions (r = 0.233) had stranger relationship
with insurance purchase intention than subjective norms (r = 0.103).
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