On the Repeated Purchase Behaviors of Auto Insurance in Taiwan
This paper develops a discrete choice modeling framework with multinomial logit (ML) and nested logit (NL) specifications tested against the samples drawn from a non-life insurance company in Taiwan—each sample has revealed a consumers actual repeated purchase behaviors of physical damage coverage (PDC) auto insurance policies for up to consecutive five years. The results of ML estimation indicate that car owners age, vehicle hrand and engine capacity arc significant factors affecting the repeated purchase in the following years. In terms of modeling structures and statistical results, however, the NL models have shown superior to the ML model in elucidating the consumers repeated purchase of PDC policies from the same insurance company. Our study provides valuable implications to the insurance companies as well as to the car dealers in developing effective marketing strategies to promote the written volumes of PDC auto insurance policies.
Auto insurance policy discrete choice model repeated purchase behavior
M. J. Wang C. H. Wen L. W. Lan
Department of Insurance, Chaoyang University of Technology, Chinese Taipei Department of Transportation Technology and Management, Feng Chia University, Chinese Taipei Department of Marketing and Logistics Management, Ta Hwa Institute of Technology, Chinese Taipei
国际会议
大连
英文
349-353
2011-07-10（万方平台首次上网日期，不代表论文的发表时间）