An Empirical Study Of Factors Influencing Consumer Purchase Intention Of Critical Illness Insurance In Malaysia
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Date
2015
Authors
Ken Ong, Kean Teik
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Abstract
Critical illness threatening Malaysia and the world on an increasing trend, getting
individual to have sufficient critical illness insurance protection to avoid financial
difficult is still a big challenge. This contemporary research is to measure factors
influencing the purchase intention of critical illness insurance in Malaysia.
Based on the consumer behaviour framework of Theory of Planned Behaviour,
the model has included brand attitude, product type, sales promotion, subjective norm,
and perceived price to measure the purchase intention of critical illness insurance
product. A self-administered questionnaire was designed and distributed with 206
respondents received.
Statistical Package for Social Sciences (SPSS) and Smart Partial Least Square
(PLS) were used to analyse the data. Result indicated that product type, sales
promotion, subjective norm was significantly influenced consumer purchase intention
of critical illness insurance where brand attitude and perceived price do not. The
findings would be beneficial to the critical illness insurance provider to better penetrate
the market through greater insight of consumer purchase intention of critical illness
insurance in Malaysia market. This research would also prepare the law maker and
foreign insurance provider to formulate strategies for potential future liberalisation of
insurance industry business environment.
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Keywords
Factors Influencing Consumer Purchase , Critical Illness Insurance