The Impact of COVID-19 on Perceived Risk and Insurance Purchase Demands of People in Trang Province

Authors

  • Nattanicha Kongjam Prince of Songkla University, Trang Campus.
  • Jutamat Rattanapibool Prince of Songkla University, Trang Campus.
  • Ruttawit Apacuppakul Prince of Songkla University, Trang Campus.
  • Thawanhathai Koedkaeo Prince of Songkla University, Trang Campus.
  • Rusnee Saebing Prince of Songkla University, Trang Campus.
  • Sippavit Wongsuwatt Prince of Songkla University, Trang Campus.
  • Wipada Thaothampitak Prince of Songkla University, Trang Campus.

Keywords:

Perception of Risk, Purchase Demands, Life Insurance, Personal Accident Insurance, Health Insurance

Abstract

Insurance is an important part of people life enabling stability and warranty in several ways through for example, life insurance, personal accident insurance, and health insurance especially during Covid-19 pandemic which caused a high loss of people life. This research was undertaken to study the impacts of the Covid-19 pandemic on perceived risk and purchase demands in personal insurance. A questionnaire survey was employed to collect data from 400 people in Muang Trang District, Trang Province using quota sampling method. Descriptive statistics and Multiple linear regression were used to analyze the data. The research results found that perceived risk significantly influenced purchase demands for life insurance, personal accident insurance, and health insurance. Moreover, the impacts of the Covid-19 pandemic had the influence on the relationship between perceived risk for life insurance and health insurance. In terms of recommendation, promoting people’s awareness on risk is crucial element for increasing insurance purchase demands. The insurance can in turn create warranty of people life and safety.

Author Biographies

Nattanicha Kongjam, Prince of Songkla University, Trang Campus.

Bachelor of Business Administration, Faculty of Commerce and Management

Jutamat Rattanapibool, Prince of Songkla University, Trang Campus.

Bachelor of Business Administration, Faculty of Commerce and Management

Ruttawit Apacuppakul, Prince of Songkla University, Trang Campus.

Bachelor of Business Administration, Faculty of Commerce and Management

Thawanhathai Koedkaeo, Prince of Songkla University, Trang Campus.

Bachelor of Business Administration, Faculty of Commerce and Management

Rusnee Saebing, Prince of Songkla University, Trang Campus.

Bachelor of Business Administration, Faculty of Commerce and Management,

Sippavit Wongsuwatt, Prince of Songkla University, Trang Campus.

Business Administration, Faculty of Commerce and Management

Wipada Thaothampitak, Prince of Songkla University, Trang Campus.

Tourism Management, Business Administration, Faculty of Commerce and Management,

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Published

2021-06-11

How to Cite

Kongjam, N. ., Rattanapibool, J. ., Apacuppakul, R. ., Koedkaeo, T. ., Saebing, R. ., Wongsuwatt, S. ., & Thaothampitak, W. . (2021). The Impact of COVID-19 on Perceived Risk and Insurance Purchase Demands of People in Trang Province. Creative Business and Sustainability Journal, 43(2), 1–20. Retrieved from https://so01.tci-thaijo.org/index.php/CBSReview/article/view/248354

Issue

Vol. 43 No. 2: ISSUE 168, APRIL - JUNE 2021

Section

Research Articles

License

Opinions and discussions in papers published by the Creative Business and Sustainability Journal (CBSJ) are deemed as personal opinions and the responsibility of the writers. They are not the opinions or responsibility of the Chulalongkorn Business School of Chulalongkorn University.

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