Car insurance: Analysis of factors influencing the choice of policyholders

Abstract

In a highly regulated and competitive business sector, getting customers is the primary concern for managers and their sales teams. The objective of the study is to conceptualize and evaluate the factors that influence positively or negatively consumer behavior when choosing car insurance, to define the nature of each of these factors, its radius of influence, if it is cognitive, affective, or conative, through the testing of the hypotheses determined previously. We seek to understand what are the factors that can influence the choice of a car insurance in Morocco?

In order to respond to this problem, we have implemented a hybrid research methodology: qualitative and quantitative. Through semi-structured interviews with experts in the insurance industry and through a questionnaire distributed to the members of our sample. In addition, a theoretical component will be presented in order to spread out all the key concepts related to the subject of the study, such as service marketing, or consumer behavior...

The results of the qualitative and quantitative study attest to the realization of certain hypotheses, and affirm the importance of certain factors in influencing choices in terms of car insurance. This research will provide insurance executives with a condensed conclusion that brings together the determining factors that influence the purchase intentions of car insurance in Morocco, which is a very vital and competitive segment. This will allow them to develop training plans for staff, to adapt product offers to consumer expectations.

Keywords: insurance, consumer behavior, marketing of financial services.

Classification JEL:  M31 Marketing

Paper type: Empirical research