Consumer insurance behavior

Srijanani Devarakonda, Falguni H. Pandya, Pankaj Sahu and Kexin Meng

Chapter 8 in A Research Agenda for Consumer Financial Behavior, 2023, pp 103-116 from Edward Elgar Publishing

Abstract: Insurance is one of the most important players in the financial system. Consumer behavior is the study of when, why, how, and where consumers purchase or do not purchase goods and/or services. This chapter examines consumer insurance behavior and the factors that influence it. Insurance businesses assist in mobilizing savings, and this money is invested in several ways that contribute significantly to economic growth. The chapter is a review of a set of studies, where age, gender, awareness, prior experiences, demography, pricing, promotion, and service quality were identified as factors linked with insurance behavior. The chapter shows how these factors influence consumer insurance behavior and provides evidence for the development of relevant theories that will forecast future consumer behavior. The future of consumer insurance behavior will be more reliant on technology. The chapter provides insights to the insurance companies to streamline their approach for increasing penetration and building consumer trust.

Keywords: Business and Management; Economics and Finance (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.elgaronline.com/view/edcoll/9781803922652/9781803922652.00016.xml (application/pdf)
Our link check indicates that this URL is bad, the error code is: 503 Service Temporarily Unavailable

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:21534_8

Ordering information: This item can be ordered from
http://www.e-elgar.com

Access Statistics for this chapter

More chapters in Chapters from Edward Elgar Publishing
Bibliographic data for series maintained by Darrel McCalla ().