Behaviors and Factors Affecting Decision to Submit Auto Insurance Voluntary Sector of Non-Life Insurance Brokers to Tokio Marine Safety Insurance (Thailand) Public Company Limited in Bangkok

Abstract

This research aims to study 1) the comparison of non-life insurance brokers’ decisions to submit the voluntary motor insurance classified by the decision behaviours submitting the voluntary motor insurance, and 2) the services marketing mix factors affecting the decision of submitting the voluntary motor insurance to Tokio Marine Safety Insurance (Thailand) Public Company Limited. Furthermore, this study is quantitative research by using the questionnaire as an instrument, and the sample group is the non-life insurance brokers who live in Bangkok areas and submitted the voluntary motor insurance to Tokio Marine Safety Insurance (Thailand) Public Company Limited in the number of 417 persons. To analyse the data, the statistics of frequency, percentage, average, and standard deviation are used; additionally, the hypotheses are tested by using One-Way ANOVA, and multiple regression analysis at .05 level of statistical significance.

As a result of this study, it is presented that 1) the different decision behaviours to submit the voluntary motor insurance in the terms of car category and premium rate affect decisions of submitting the voluntary motor insurance differently, and 2) the marketing mix that influences the decision of submitting the voluntary motor insurance includes product, price and process. According to the recommendation, the company should focus on designing products to meet the consumers’ needs and should have the appropriate premium rate which is worth the sum insured and the conditions of coverage. In addition, the company should improve the working process to be more automated in order to provide the fast and accurate service and to build a reputation and image to the organization to be recognized.