THE EFFECT OF ONLINE LIFE INSURANCE ON CUSTOMER’S PURCHASE INTENTION

Abstract

Nowadays, online technology and services are used by many industries and business such as bank, insurance, military, hospitality and other. Central Bank of Malaysia had rolled out online life insurance‘s frameworks that allow insurers to distribute life insurance through online. Many insurance companies do not have a clear overview on the changes of customer‘s purchase intention after the introduction of online life insurance in Malaysia. The objective of this research is to test and examine the effect of online life insurance on customer‘s purchase intention. The methodology for this research is using quantitative method to
collect data and information from 150 respondents. Questionnaire had delivered to 150 qualify respondents from Klang Valley through online and hardcopy manner. The data and information collected from 150 respondents are analyzed using statistical tools such as descriptive statistic, Chi-square test, Anova, multiple regression and others. The key findings in this research explains that independent variables such as conveniences, price and feature comparison and product flexibility have significant positive relationship with customer‘s purchase intention. However, information transparency has positive but not significant
relationship with customer‘s purchase intention on online life insurance.