IDEAS home Printed from https://ideas.repec.org/a/pal/gpprii/v40y2015i1p108-130.html
   My bibliography  Save this article

Why Choose an Insurance Career? A Pilot Study of University Students’ Preferences Regarding the Insurance Profession

Author

Listed:
  • Madhusudan Acharyya

    () (Glasgow School for Business and Society, Glasgow Caledonian University, 40 Fashion Street, London E1 6PX, U.K.)

  • Davide Secchi

    (Senior Lecturer in HR & OB, Executive Business Centre, Bournemouth University, 89 Holdenhurst Road, Bournemouth BH8 8EB, U.K)

Abstract

The study investigates the most relevant factors affecting business students’ choice of a career in the insurance industry. Recent industry surveys indicate that students find the insurance profession uninteresting and so are reluctant to pursue a career within it. However, many of the survey respondents showed an interest in the profession. We tested three hypotheses to determine whether student choices are affected by environmental, opportunity and awareness factors. The study applied structural equation modelling and regression analysis to the data and finds that nationality, together with other environmental factors, significantly affects their choice of the insurance profession. In addition, we found that students are unaware of the underlying philosophy of insurance businesses, their products and their vital role in the economic and social system. The lack of adequate research, education providers, and the shortage of study materials and inadequate marketing strategies are among the key causes of students’ reluctance to engage with the insurance profession. This study may assist insurers, educators and professional bodies to develop their strategy directed towards attracting talents to the insurance industry.

Suggested Citation

  • Madhusudan Acharyya & Davide Secchi, 2015. "Why Choose an Insurance Career? A Pilot Study of University Students’ Preferences Regarding the Insurance Profession," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 40(1), pages 108-130, January.
  • Handle: RePEc:pal:gpprii:v:40:y:2015:i:1:p:108-130
    as

    Download full text from publisher

    File URL: http://www.palgrave-journals.com/gpp/journal/v40/n1/pdf/gpp201333a.pdf
    File Function: Link to full text PDF
    Download Restriction: Access to full text is restricted to subscribers.

    File URL: http://www.palgrave-journals.com/gpp/journal/v40/n1/full/gpp201333a.html
    File Function: Link to full text HTML
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:gpprii:v:40:y:2015:i:1:p:108-130. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla) or (Rebekah McClure). General contact details of provider: http://www.palgrave-journals.com/ .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.