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Key factors affecting consumer decision to purchase insurance services in Vietnam

By Dang Dao Hoang Yen (VNP 20)

Supervisor: Dr. Nguyen Trong Hoai

Abstract:

Life insurance market in Vietnam is still very attractive to life insurance companies as it reached insurance premium about US$2.9 in 2017. This insurance market gain good growing momentum and this trend is kept continuing that turns Vietnam to become a promising insurance market (Massmann, 2015). In the context, this paper examines the factors affecting consumer buying decision towards this life insurance service. From the finding of this research, higher monthly income individuals (more than 40 VNDm) are more likely to purchase. Moreover, service quality provided by life insurance company effects positively and significantly on purchasing probability.

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