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An Empirical Study on Consumers' Product Information Gathering Characteristics and Satisfaction in Health Insurance Consumption

  • Journal of Insurance and Finance
  • 2006, 17(1), pp.71-102
  • Publisher : Korea Insurance Research Institute
  • Research Area : Social Science > Business Management

Kim Jae-Hyun 1 Kim, Hunsoo 2

1서원대학교
2순천향대학교

Accredited

ABSTRACT

This study empirically investigates whether product information characteristicsaffect insurance consumer satisfaction based on questionnaires from 20 year ormore old health insurance consumers. The product information ch aracteristicsinclude consumers’product comparing tendency, information sourc e and productcomprehensiveness. This study finds that product comparing tend ency andinformation source are affected by consumer characteristics suc h as age, education,residence, and income. Also it is found that consumers are more satisfied when theycompare health insurance products prior to their purchasing dec ision. On the otherhand, consumer satisfaction is positively related to product co mprehensiveness.Accordingly, this study suggests that insurance companies shoul d employ the mosteffective and efficient product information distribution measur es to fit consumers’characteristics in order to enhance consumer satisfaction.

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