THE DIGITAL SHIFT: EVOLVING INSURANCE LANDSCAPE AND CONSUMER-CENTRIC DIGITALIZATION IN KUALA LUMPUR, MALAYSIA

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  • Kumaran Kanapathipillai Faculty of Business, UNITAR International University, Tierra Crest, Jalan SS6/3, Kelana Jaya, 47301 Petaling Jaya, Selangor, Malaysia
  • Nur Syukrina Binti Abu Bakar Faculty of Business, UNITAR International University, Tierra Crest, Jalan SS6/3, Kelana Jaya, 47301 Petaling Jaya, Selangor, Malaysia
  • Nor Anizah Binti Mohd Bakhari Faculty of Business, UNITAR International University, Tierra Crest, Jalan SS6/3, Kelana Jaya, 47301 Petaling Jaya, Selangor, Malaysia
  • Farah Adila Binti Mohammad Roslee Faculty of Business, UNITAR International University, Tierra Crest, Jalan SS6/3, Kelana Jaya, 47301 Petaling Jaya, Selangor, Malaysia

DOI:

https://doi.org/10.46827/ejmms.v9i2.1806

Klíčová slova:

mobile applications utilisation, digitalisation preferences, digitalisation adaptation, consumer behaviour, insurance industry

Abstrakt

 

This research aims to analyse the transformative impact of digital technologies on consumer behaviour in insurance shopping at XYZ Insurance. For confidentiality, the name of the insurance company is withheld. This study assesses the relationships between three independent variables (mobile application utilisation, digitalisation preferences, and digitalisation adaptation) and their influence on consumer behaviour. The Technology Acceptance Model (TAM) was used as a theoretical framework to investigate how individuals participate in digital consumerism for insurance purposes. This quantitative study was undertaken using the stratified random sampling method. A total of 400 responses provided the data for this research. This study has uncovered the complex patterns behind consumers' behaviour when purchasing insurance through digital technology. This study reveals strong positive relationships between the independent variables and consumer behaviour. This highlights the fact that significant technical shifts are influencing the way consumers experience and feel satisfied with the insurance they buy. However, the research also identifies challenges like privacy concerns and the potential for option overload, which could limit the full potential of digitalization. Furthermore, this study provides empirical information that sparks academic debate and proposes ways to enhance digitalisation in the insurance industry. This gives novel insights for both scholars and practitioners. Moreover, this study addresses the current gaps in the literature and provides guidance to XYZ Insurance and similar companies on how to optimise their digital strategies to align with customer preferences. This is crucial for enhancing overall customer satisfaction and fostering loyalty among clients who use digital channels for insurance purchases.

 

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Biografie autora

  • Kumaran Kanapathipillai, Faculty of Business, UNITAR International University, Tierra Crest, Jalan SS6/3, Kelana Jaya, 47301 Petaling Jaya, Selangor, Malaysia

    Kumaran Kanapathipillai, a prominent figure in academia, earned his PhD in management and business from Management and Science University (Malaysia). With an impressive tenure of 23 years in the academic world, he has honed expertise in areas such as Management, Marketing, Supply Chain Management, and Logistics Management. Within academia, he plays a pivotal role in guiding and assessing both Masters and Ph.D. candidates. He also serves as an external examiner for several universities in Europe and Asia. Additionally, he is a peer reviewer for numerous academic journals. Beyond academia, he provides specialised training sessions on entrepreneurship, creative problem-solving, and project management across diverse industries. His scholarly pursuits predominantly concentrate on contemporary entrepreneurship, management, and marketing.

  • Nur Syukrina Binti Abu Bakar, Faculty of Business, UNITAR International University, Tierra Crest, Jalan SS6/3, Kelana Jaya, 47301 Petaling Jaya, Selangor, Malaysia

    Nur Syukrina Binti Abu Bakar is a finance executive in a financial banking institution. She has obtained a bachelor’s degree in accounting with honours from Universiti Teknologi Mara (UiTM). Besides core competencies in project management and user acceptance testing, She has great communication, leadership, management, interpersonal skills, critical thinking, and problem-solving.

  • Nor Anizah Binti Mohd Bakhari, Faculty of Business, UNITAR International University, Tierra Crest, Jalan SS6/3, Kelana Jaya, 47301 Petaling Jaya, Selangor, Malaysia

    Nor Anizah Binti Mohd Bakhari obtained her bachelor’s degree in economics (natural resources) with honours from Universiti Malaysia Terengganu. She obtained PCA qualifications. She is currently an executive at Etiqa General Takaful Berhad, Motor Takaful Recovery of Claims Care. Her specialisations include investigating and recovering motor takaful and claims management, total loss recovery, and third-party recovery, focussing on the core skills and competencies.

  • Farah Adila Binti Mohammad Roslee, Faculty of Business, UNITAR International University, Tierra Crest, Jalan SS6/3, Kelana Jaya, 47301 Petaling Jaya, Selangor, Malaysia

    Farah Adila Binti Mohammad Roslee obtained her bachelor’s degree in event management. In her role as an Executive in Event & Campaign at a Life Insurance Agency, Farah honed her skills in communication, project management, and strategic planning. These invaluable experiences provided her with a unique perspective on the intricacies of human interaction and the power of storytelling as a means of engagement.

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Stažení

Publikováno

2024-09-03

Číslo

Vol 9 No 2 (2024)

Sekce

Articles