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The transformative service performance of InsurTech companies: using PLS-SEM and IPMA approach for examining the purchase behavior of InsurTech customers

Author

Listed:
  • Kajul Bharti

    (Deemed University)

  • Richa Agarwal

    (Deemed University)

  • Akshay Kumar Satsangi

    (Deemed University)

Abstract

Indian insurance companies anticipate digitalization becoming one of the mainstays of their business model in the future. So, this study investigated the various aspects of InsurTech companies’ website services' effect on purchase behavior through customer perceived value, attitude, and purchase intention and showed how digitization improves insurance purchasing in the Uttar Pradesh region. For this study, 268 Indian customers were recruited using the Structural Equation Modeling and Importance-Performance Map Analysis approach. The findings showed that search convenience and trust, out of all the service convenience dimensions (access, search, and evaluation convenience) and service quality dimensions (reliability and trust), significantly impacted perceived value, which in turn positively influenced attitude and purchase intention and ultimately purchase behavior for purchasing a policy through InsurTech companies’ websites. The concluding segment of the article addresses the management implications, limitations, and future directions.

Suggested Citation

  • Kajul Bharti & Richa Agarwal & Akshay Kumar Satsangi, 2024. "The transformative service performance of InsurTech companies: using PLS-SEM and IPMA approach for examining the purchase behavior of InsurTech customers," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 29(4), pages 1445-1463, December.
    • Handle: RePEc:pal:jofsma:v:29:y:2024:i:4:d:10.1057_s41264-024-00275-7
    DOI: 10.1057/s41264-024-00275-7
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