Customer behavior toward online insurance services in India

Abstract

Arpita Khareis a Faculty in the Indian Institute of Management Rohtak, India. She has a MBA degree in Marketing and D.Phil in International Management from the University of Allahabad. With over 14 years of academic and research experience, her research interests span consumer behaviour, retailing, services marketing and supply chain management and she has authored a number of research papers in international and national journals. Saumya Dixit , Ruchi Chaudhary , Priyanka Kochhar and Shruti Mishraare MBA students at the Indian Institute of Information Technology, Allahabad.ABSTRACT The use of web-based technologies as a service delivery medium has added new elements to service dissemination. Escalation in self-service technologies has provided customers with multiple choice for using services offered by an organization. The online service attributes of ' convenience ' and ' ease of use ' are being given priority by companies for designing web-based services. In India, online shopping in general and online insurance services in particular, are yet to gain momentum. A large population still remains skeptical about its relative advantage over the traditional delivery channels. Limited Internet accessibility coupled with low technology literacy makes customers suspicious about online insurance services. The current research was directed toward understanding Indian customers ' behavior toward using online insurance services. Correlation, ANOVA and multiple regression tests were run to understand customer behavior. The results suggest that improvement in technological attributes of online insurance Web sites can enhance customers ' service usage.

Health insurance policy renewal: an exploration of reputation, performance, and affect to understand customer inertia

“…As expected, the insurance company reputation has a significant positive influence on positive affect ( β = 0.337; p < 0.01) and a significant negative infleunce on negative affect ( β = − 0.223; p < 0.01), thus hypothesis 1 as well as hypothesis 2 were accepted. Correspondingly, the results specified that health insurance service performance revealed a significantly positive infleunce on positive affect ( β = 0.535; p < 0.01) and a significant negative infleunce on negative affect ( β = − 0.396; p < 0.01) so the hypotheses 3 and 4 were accepted as the insurance claim settlement experience lead to either positive or negative affect the policy renewal behavior in the Indian context (Khare et al 2012 ). The hypothesized impact of positive and negative affects on customer retention was also evaluated.…”

“…It was acknowledged that the positive affect ( β = 0.638) comprised the highest total impact on customer retention, followed by high/low insurance service performance ( β = 0.388), good/bad insurance company reputation ( β = 0.242), and negative affect ( β = − 0.127). Thus, we can ascertain the continous improvement and stable insurance service delivery (i.e., claim settlement) is the cornerstone for health insurance policy renewal in the Indian market (Kautish and Rastogi 2008 ; Khare et al 2012 ).…”

Electronic banking adoption in Ethiopia: an empirical investigation

“…These high levels of uncertainty in relation to services provided via online media put the services at risk compared to physical products (Bucko et al 2018). A minimum level of interaction with the providers of services puts customers in doubt, especially if their information has been compromised or if they suspect that their money has been stolen (Khare et al 2012). However, safety and security can be attained through encryption and authentication of linked websites, and once users have seen that these websites they visited are protected, they feel secured (Cavoukian and Stoianov 2007).…”

Buying Insurance Online: Are we there yet?

“…Socio-economic variables decide the customer access to computerised banking and the customers' perceived innovation characteristics decides the possibility of customer adopting computer banking (Lee, Lee, & Eastwood, 2003). Variables like awareness and benefits of the online channel (Laforet & Li, 2005), trust, security, perceived risks (Lall Mahamood, 2007), (Luo, Li, Zhang, & J Shim, 2010), (Mukherjee & Nath, 2003), (Floh & Treiblmaier, 2006), (Khare, Dixit, Chaudhary, Kochhar, & Mishra, 2012), (Dixit & Dr. Datta, 2010), (Sharma, 2011), website qualities (Kesharwani & Bisht, 2012), (Pikkarainen, Pikkarainen, Karjaluoto, & Pahnila, 2004) web skills, product involvement, online purchasing experience (McKechnie, Winklhofer, & Ennew, 2006), (Koufaris, 2002), Perceived Behavioural Control, Perceived difficulty in using computers (Tan, 2000), (Mattila, Karjaluoto, & Pento, 2003) have been found to influence the online channel adoption for various types of financial services. For this study, variables like System Quality (SQ) and Information Quality (IQ) (DeLone & McLean, 2003), Perceived Usefulness (PU) and Perceived Ease of Use (PEOU) (Davis, Bagozzi, & Warshaw, 1989) have been taken from existing literature.…”