Online Insurance Purchase Intention and Behaviour among Chinese Working Adults

Abstract

The study examines the customers’ perception towards buying insurance online with factors taken from the theory of planned behavior like attitude, subjective norm, and perceived behavioral control among the Chinese working adults. The research collected cross-sectional survey-based data. The collected data analyzed with the structural equation modeling with SmartPLS 3.1. The study’s results offer empirical support that internet trustworthiness positively influences the attitude towards making purchases online, normative structure positively and significantly impacts the subjective norms towards internet purchase, and user internet self-efficacy significantly influences the perceived behavioral control for the internet purchase. The results confirm that the attitude and perceived behavioral control positively and significantly influence intention to purchase insurance online. Intention to purchase insurance online significantly predicts the behavior of purchasing insurance online. Current research establishes significant empirical evidence that the behavioral attitudinal beliefs build on the behavioral beliefs towards the making purchase over the internet. The subjective norms for internet purchase are not supportive, and consumers are finding less social support to buy financial products over the internet. Current work extends the theory of planned behavior with the behavior beliefs that formulates the attitudinal beliefs that leads to the development of the internet and purchase behaviors.