Open AccessLife Insurance Take-Up Rate Influencing Factors Comparison between Malaysia and Japan
Author(s) -
Silvana Kardinar Wijayanti,
Barry Ramsay
Publication year - 2016
Publication title -
international journal of business and social research
Language(s) - English
Resource type - Journals
eISSN - 2164-2559
pISSN - 2164-2540
DOI - 10.18533/ijbsr.v6i7.975
Subject(s) - life insurance , business , exploratory research , product (mathematics) , maturity (psychological) , marketing , upload , documentation , customer satisfaction , actuarial science , computer science , psychology , developmental psychology , geometry , mathematics , sociology , anthropology , programming language , operating system
This study will investigate the factors that influence take-up rates within the Malaysian Life Insurance industry to discover potential opportunities and limitations. For comparative purposes, the study is modelled on Power (2013) who examined four factors affecting customer satisfaction in life insurance in Japan (product, price, customer services and procedures and documentation). This study is exploratory in nature using both secondary research and primary data from questionnaires. The main finding was “Product offerings” being the most significant variation, both an opportunity and limitation, due to the relative maturity, experience and changing trends within the insurance market of Japan, conversely growth, infancy and different dynamics in Malaysia.