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Factors Determining the Purchase of Insurance Products

Author

Listed:
  • Jańska Anna
  • Kędra Arleta

    (Maria Curie-Sklodowska University, Lublin, Poland)

Abstract

This paper centres to the presentation of analyzed potential relations between the determinants of purchasing decisions regarding insurance products and socio-demographic variables, i.e. age, gender, place of residence, income, occupational status, and number of people in the household. The authors also examined whether making financial decisions in a household determines purchasing decisions concerning insurance products. The main hypothesis is: from the perspective of an elderly customer, inherent features of an analyzed insurance product are more vital than aspects regarding the sales process. The analysis was conducted using the ordered logit model, where factors determining purchases of insurance products were used as dependent variables.

Suggested Citation

  • Jańska Anna & Kędra Arleta, 2019. "Factors Determining the Purchase of Insurance Products," Econometrics. Advances in Applied Data Analysis, Sciendo, vol. 23(1), pages 19-28, March.
    • Handle: RePEc:vrs:eaiada:v:23:y:2019:i:1:p:19-28:n:2
    DOI: 10.15611/eada.2019.1.02
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    More about this item

    Keywords

    insurance; ordered logit model; customers’ preferences; purchase decisions;
    All these keywords.

    JEL classification:

    • C01 - Mathematical and Quantitative Methods - - General - - - Econometrics
    • A10 - General Economics and Teaching - - General Economics - - - General
    • C58 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Financial Econometrics
    • C59 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Other
    • G00 - Financial Economics - - General - - - General

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