A PARADIGM SHIFT IN BUYING BEHAVIOUR OF HEALTH INSURANCE DURING COVID-19

• DOI: 10.5281/zenodo.5993422
• Publication Date: 2021-12-31
• Authors: Kiran Sharma; Aditya Gupta; Kartik Vora
• Keywords: Paradigm shift; 2019-20 coronavirus outbreak

ABSTRACT Traditionally, insurance service providers have not relied on technology-based dissemination of their services; however, this trend has shifted to technology-enabled distribution. Nowadays, given COVID-19, these technology aspects have been adopted widely by a large number of service providers. In Indian context, insurance policies are still being provided using traditional methods by the companies, and it seems imperative to use technology in insurance relates services to increase the value for the customers. Additionally, due to COVID-19, the customers who want to avail insurance services are confined to their homes, thus further strengthening the importance of adopting a web-based technology to disseminate policies. However, the success and failure in implementing such kind of systems that are technology driven depends upon the degree of how much the customer is inclined to use it. As a result, the major purpose of this study is to find out the main factors that are influencing the adoption of online insurance related services, especially health insurance related services, by customers in the wake of COVID-19.The current study is done with the help of the Technology Acceptance Model (TAM), which is extended by adding Social Influence, Intention of Use, Personal Initiatives and Characteristics, Perceived Risk, Self-Efficacy, Trust, and Habit. Data was collected and analysed by sending out questionnaires to a sample of participants. The purpose of this research is to assess the change in the buying behaviour of health insurance products posts the COVID-19 pandemic. The current study throws interesting insights about this area of study. REFERENCES Ajzen, I. (1991), ���The theory of planned behavior���, in Lange, P.A.M., Kruglanski, A.W. and Higgins, E.T. (Eds), Organizational Behavior and Human Decision Processes, Elsevier, Vol. 50 No. 2, pp. 179-211. 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