Study of factors affecting insurance products purchasing

Abstract

In this research, we intend to study what are the factors affecting the purchase of insurance products for the development of this sector. Therefore, our goals are to understand and explore the client’s behavior and find the necessary recommendations to strengthen the insurance industry. In order to detect and experimentally verify the effects of these concepts on the behavior of insurance contract, we have elaborated a qualitative study, when data was be collected from thirty directors of insurance agencies in Saudi Arabia marketplace to investigate the real reasons of the subscription in insurance products. Then, the proposed model summarizes the variables that affect the behavior of underwriting, which are ‘religiosity’, ‘fear’, ‘optimism’, ‘emotional regulation’ and ‘opinion leadership’. This research carries the theoretical benefit of researchers interested in studying the behavior of underwriting insurance, as well as the practical benefit of workers in this sector.