Voluntary automobile insurance product design using Conjoint Analysis

Abstract

The purpose of this research is to study the characteristics of the products that affect the decision to buy auto insurance voluntary to prioritize and evaluate product characteristics that influence the purchase of voluntary car insurance the researcher used simple random sampling method by studying consumers who have bought car insurance voluntary data were collected from 400 samples there were 351 respondents who have bought the auto insurance themselves voluntary at least once, using descriptive statistics and Conjoint Analysis in data analysis The results showed that consumers are most focused on buying voluntary car insurance products in cash discount on premiums paid in the past year. In the absence of insurance claims, there should be a discount or refund to the insured in part of the following year. The second is the importance of insurance premium stipulated in the driving distance (conditions, GPS installed) and no insurance claims.