Impact of the concerns over exogenous factors towards the insurance purchase: A study in Hong Kong insurance market

Frankie Yeung, Kin Keung Lai, Yan Pui Lee

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

1 Citation (Scopus)

Abstract

Researches kept on focusing on the factors that are directly related to the policyholders to justify the rationale for insurance behaviours. With the city like Hong Kong, which has undergone series of social reforms, it is worthwhile to look at how the concerns over these changes can influence the insurance purchase. Also, factors like service quality and customer relationship in which the policyholders can only choose to pay attention to but cannot change directly constitute a good list of factors that are exogenous in nature. This paper aims to give the factors affecting the concerns over external issues and investigate how the concerns affect the insurance purchase. From the analysis, basic variables like income and age do pay a role on the concerns over the exogenous factors. However, the effect of the policy related variables cannot be ignored. The paper confirmed some common sense like medical related products are highly affected by the concern over medical reform; some unconventional relationships are also provided and detailed in the study.

Original languageEnglish
Title of host publicationProceedings - 2014 7th International Joint Conference on Computational Sciences and Optimization, CSO 2014
EditorsLean Yu, Qing Zhu, Jian Chai, Jian Chai, Shouyang Wang
PublisherInstitute of Electrical and Electronics Engineers Inc.
Pages373-377
Number of pages5
ISBN (Electronic)9781479953721
DOIs
Publication statusPublished - 14 Oct 2014
Event7th International Joint Conference on Computational Sciences and Optimization, CSO 2014 - Beijing, China
Duration: 4 Jul 20146 Jul 2014

Publication series

NameProceedings - 2014 7th International Joint Conference on Computational Sciences and Optimization, CSO 2014

Conference

Conference7th International Joint Conference on Computational Sciences and Optimization, CSO 2014
Country/TerritoryChina
CityBeijing
Period4/07/146/07/14

Keywords

  • Exogenous variables
  • Insurance customer relationship management
  • Insurance engagement
  • Insurance purchase
  • Insurance purchase considerations

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