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Measuring Self-Service Technology Latent Difficulties: Insurance Decisions on Utilitarian and Hedonic Influences

Measuring Self-Service Technology Latent Difficulties: Insurance Decisions on Utilitarian and... APJRI 2015; 9(1): 1–33 Featured Article Ann Shawing Yang* Measuring Self-Service Technology Latent Difficulties: Insurance Decisions on Utilitarian and Hedonic Influences Abstract: This study investigates the difficulties encountered by consumers in forming insurance decisions when using self-service technology (SST) channels, such as electronic insurance. Rasch measurement model is applied. This model employs the expectation disconfirmation theory to categorize and rank the order of importance of latent utilitarian and hedonic insurance purchase motives. Consumers find that electronic insurance has high risks and high premiums with respect to utilitarian motives but lacks information and performs unsatis- factorily in terms of hedonic motives. Nevertheless, electronic insurance is preferred for the convenience brought by SST channels, and because it provides greater discounts and offers product–channel matching through self-consulta- tion in the absence of agents. Being middle-aged and having a high income are factors that significantly influence electronic insurance purchases. Keywords: self-service technology, insurance decision, Rasch measurement, utilitarian and hedonic influence DOI 10.1515/apjri-2014-0005 1 Introduction Financial disintermediation resulting from technological advances not only reduces costs but also provides efficient financial access (Claessens, Glaessner, and Klingebiel 2002). New technologies, such as self-service electronic channels, allow for autonomous usage and selection of a preferred product matching http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Asia-Pacific Journal of Risk and Insurance de Gruyter

Measuring Self-Service Technology Latent Difficulties: Insurance Decisions on Utilitarian and Hedonic Influences

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Publisher
de Gruyter
Copyright
Copyright © 2011–2019 by Walter de Gruyter GmbH
ISSN
2153-3792
DOI
10.1515/apjri-2014-0005
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Abstract

APJRI 2015; 9(1): 1–33 Featured Article Ann Shawing Yang* Measuring Self-Service Technology Latent Difficulties: Insurance Decisions on Utilitarian and Hedonic Influences Abstract: This study investigates the difficulties encountered by consumers in forming insurance decisions when using self-service technology (SST) channels, such as electronic insurance. Rasch measurement model is applied. This model employs the expectation disconfirmation theory to categorize and rank the order of importance of latent utilitarian and hedonic insurance purchase motives. Consumers find that electronic insurance has high risks and high premiums with respect to utilitarian motives but lacks information and performs unsatis- factorily in terms of hedonic motives. Nevertheless, electronic insurance is preferred for the convenience brought by SST channels, and because it provides greater discounts and offers product–channel matching through self-consulta- tion in the absence of agents. Being middle-aged and having a high income are factors that significantly influence electronic insurance purchases. Keywords: self-service technology, insurance decision, Rasch measurement, utilitarian and hedonic influence DOI 10.1515/apjri-2014-0005 1 Introduction Financial disintermediation resulting from technological advances not only reduces costs but also provides efficient financial access (Claessens, Glaessner, and Klingebiel 2002). New technologies, such as self-service electronic channels, allow for autonomous usage and selection of a preferred product matching

Journal

Asia-Pacific Journal of Risk and Insurance – de Gruyter

Published: Jan 1, 2015

Keywords: self-service technology

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