An Emprirical Investigation on Understanding the Factors Influencing Consumer Buying Behaviour Towards Life Insurance

Abstract

The insurance industry in our country has been flourishing in the recent past due to incoming of many national and international companies partnering to offer excellent products and services to the customers, this has led to exponential growth and development of the business in the country. With the government offering friendly policies and increasing the investment percentage of foreign players has been experiencing more progress in terms of increasing the customers. It is noted that there are more than 20 players in the industry, however the greatest challenges lies in understanding the buying behaviour of the consumers. Many companies tend to sell the insurance product as a tax saving scheme rather utilizing the product to meet various financial objectives of the customers. This study intends to analyses the various factors which are influencing the customers in selecting the insurance company and choosing the policies.