@article{ART002323124},
author={LEE CHAN HEE and Kim, Ho Il},
title={The Effects of Trust in Insurers, Media Exposure, and Psychological Factors on Purchase Intention of Accident Coverage},
journal={Journal of Insurance and Finance},
issn={2384-3209},
year={2018},
volume={29},
number={1},
pages={3-29},
doi={10.23842/jif.2018.29.1.001}
TY - JOUR
AU - LEE CHAN HEE
AU - Kim, Ho Il
TI - The Effects of Trust in Insurers, Media Exposure, and Psychological Factors on Purchase Intention of Accident Coverage
JO - Journal of Insurance and Finance
PY - 2018
VL - 29
IS - 1
PB - Korea Insurance Research Institute
SP - 3
EP - 29
SN - 2384-3209
AB - This study empirically analyzed the effects of psychological factors, media exposure, and financial literacy on purchasing intention of accident insurance covering traffic accidents using structural equation model. The study showed that trust in insurers is found to be the most influential factor in the purchase intention. In the case of non-subscribers of accident coverage, media exposure had a positive effect on the new purchase intention of accident coverage as partial mediation of risk sentiment(fear and worry) on traffic accidents. The optimism bias and accident probability positively influenced the new purchase intention of accident coverage as full mediation of risk sentiment for traffic accidents. In addition, trust in government has a direct impact on the purchase intention of new accident coverage in a negative way. On the other hand, for the people who already joined accident coverage, trust in insurers and financial literacy influenced the additional purchase intention of accident coverage in positive and negative way respectively. The findings suggest that insurers, insurance industry, and financial authorities need to continue their efforts to improve the trust of insurance consumers for the sales of accident coverage. Furthermore, it is implied that there is a possibility of adverse selection in accident insurance market as the higher the perceived probability of traffic accident, the higher the purchase intention of accident coverage.
KW - Accident Coverage;Trust in Insurer;Media Exposure;Fear;Worry;Trust in Government
DO - 10.23842/jif.2018.29.1.001
ER -
LEE CHAN HEE and Kim, Ho Il. (2018). The Effects of Trust in Insurers, Media Exposure, and Psychological Factors on Purchase Intention of Accident Coverage. Journal of Insurance and Finance, 29(1), 3-29.
LEE CHAN HEE and Kim, Ho Il. 2018, "The Effects of Trust in Insurers, Media Exposure, and Psychological Factors on Purchase Intention of Accident Coverage", Journal of Insurance and Finance, vol.29, no.1 pp.3-29. Available from: doi:10.23842/jif.2018.29.1.001
LEE CHAN HEE, Kim, Ho Il "The Effects of Trust in Insurers, Media Exposure, and Psychological Factors on Purchase Intention of Accident Coverage" Journal of Insurance and Finance 29.1 pp.3-29 (2018) : 3.
LEE CHAN HEE, Kim, Ho Il. The Effects of Trust in Insurers, Media Exposure, and Psychological Factors on Purchase Intention of Accident Coverage. 2018; 29(1), 3-29. Available from: doi:10.23842/jif.2018.29.1.001
LEE CHAN HEE and Kim, Ho Il. "The Effects of Trust in Insurers, Media Exposure, and Psychological Factors on Purchase Intention of Accident Coverage" Journal of Insurance and Finance 29, no.1 (2018) : 3-29.doi: 10.23842/jif.2018.29.1.001
LEE CHAN HEE; Kim, Ho Il. The Effects of Trust in Insurers, Media Exposure, and Psychological Factors on Purchase Intention of Accident Coverage. Journal of Insurance and Finance, 29(1), 3-29. doi: 10.23842/jif.2018.29.1.001
LEE CHAN HEE; Kim, Ho Il. The Effects of Trust in Insurers, Media Exposure, and Psychological Factors on Purchase Intention of Accident Coverage. Journal of Insurance and Finance. 2018; 29(1) 3-29. doi: 10.23842/jif.2018.29.1.001
LEE CHAN HEE, Kim, Ho Il. The Effects of Trust in Insurers, Media Exposure, and Psychological Factors on Purchase Intention of Accident Coverage. 2018; 29(1), 3-29. Available from: doi:10.23842/jif.2018.29.1.001
LEE CHAN HEE and Kim, Ho Il. "The Effects of Trust in Insurers, Media Exposure, and Psychological Factors on Purchase Intention of Accident Coverage" Journal of Insurance and Finance 29, no.1 (2018) : 3-29.doi: 10.23842/jif.2018.29.1.001
