Consumer Buying Behavior Towards Online Insurance Services: An Empirical Study in Bandar Baru Uda, Johor Bahru (Information Management and Business Review)

Summary

• Public awareness of digital insurance channels has risen by 20% over recent years, though over 40% of the market remains cautious about using them.p.1
• The research analyzed a sample size of N = 120 adult residents from Bandar Baru Uda to examine digital insurance purchasing behavior.p.5
• Survey results show that 63.3% of respondents have never utilized an online insurance facility.p.6

Key insights

1. Satisfaction with incumbent conventional insurance channels acts as a strong negative predictor of online insurance adoption with a Beta of -0.374.p.9
2. Internal motivational factors positively drive online insurance adoption with a statistically significant Beta of 0.250.p.9
3. Perceived internet quality does not show a statistically significant effect on digital insurance purchase behavior in this urban sample.p.9
4. Over six out of ten surveyed residents, specifically 63.3%, have never used online insurance services.p.6
5. The motivational factor scale displayed the highest internal consistency in the research instrument with a Cronbach alpha of 0.817.p.7
6. The overall multiple regression model demonstrated statistical significance with an F-statistic of 9.923.p.8