Purchasing Factors for Travel Insurance by Asian Consumers

Shao-Ping Wang, Li-Chun Chen, Miao-Sheng Chen and Mou-Jian Li

International Journal of Human Resource Studies, 2019, vol. 9, issue 1, 311-329

Abstract: Purpose- This study is mainly to explore the key factors for consumers to purchase travel safety insurance, and to understand the relative importance of evaluation factors from the statistics, so as to sort out the evaluation items of the main and sub-criteria and to evaluation the weights of items.Design/methodology/approach- This study employed a questionnaire and the analytic hierarchy process (AHP) to evaluate and select key factors for travel insurance products. Furthermore, the consistency of each questionnaire item was verified to guarantee the validity of the analytical results.Findings- These results indicate that consumers primarily consider insurance benefits when making overseas travel insurance purchasing decisions, including insurance content and the coverage value. This key factor significantly affects consumers purchasing overseas travel insurance, and helps salespeople and insurance companies understand how to help customers plan their overseas travel insurance. Originality/Value- 1.Life and property insurance companies sell travel insurance products. 2. Insurance salespeople should also introduce the content of travel insurance so that travelers understand the protection and benefits offered. 3.Property insurance companies target “young people” and advertise travel insurance products on a website. 4.Increasing number of sudden illnesses such as stroke and myocardial infarction occur during travel. 5.Call-in cards are convenient for today’s busy consumers, but also actively promote and explain call-in cards when engaging with consumers to encourage them to sign up sooner. 6.Consumers also emphasize the financial health of insurance companies.

Date: 2019
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