DETERMINANTS OF LIFE INSURANCE PURCHASE DECISIONS: THE MEDIATING ROLE OF BRAND TRUST
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Abstract
Industri asuransi jiwa di Indonesia menghadapi tantangan dalam memahami faktor-faktor yang memengaruhi keputusan pembelian konsumen. Penelitian ini bertujuan untuk menganalisis pengaruh pengetahuan produk, persepsi risiko, pengaruh sosial, dan kepercayaan merek terhadap keputusan pembelian asuransi jiwa. Data dikumpulkan melalui survei terhadap 279 pemegang polis asuransi jiwa berusia 25 hingga 55 tahun di berbagai kota besar di Indonesia. Kuesioner didistribusikan melalui agen asuransi, platform daring, dan jaringan komunitas keuangan untuk memastikan partisipasi responden yang beragam dengan tingkat literasi keuangan dan minat terhadap asuransi yang bervariasi. Analisis data dilakukan menggunakan Partial Least Squares Structural Equation Modeling (PLS-SEM) untuk menguji efek langsung dan tidak langsung dari variabel-variabel tersebut. Hasil penelitian menunjukkan bahwa persepsi risiko dan pengaruh sosial memiliki pengaruh positif signifikan terhadap keputusan pembelian, dengan kepercayaan merek berperan sebagai mediator penting, terutama dalam mengubah persepsi risiko menjadi tindakan pembelian. Sebaliknya, pengetahuan produk tidak menunjukkan pengaruh signifikan, baik secara langsung maupun melalui kepercayaan merek, yang mengindikasikan bahwa konsumen dengan pengetahuan lebih tinggi cenderung mengandalkan evaluasi pribadi daripada reputasi merek. Temuan ini menekankan pentingnya membangun kepercayaan merek untuk mengurangi ketidakpastian dalam keputusan pembelian yang bersifat high-risk seperti asuransi jiwa. Kesimpulannya, perusahaan asuransi perlu fokus pada strategi komunikasi dan manajemen merek yang efektif untuk meningkatkan kepercayaan konsumen, meminimalkan persepsi risiko, dan mendorong keputusan pembelian di pasar berkembang seperti Indonesia.
The life insurance industry in Indonesia faces challenges in understanding the factors that influence consumer purchase decisions. This study aims to analyze the effects of product knowledge, perceived risk, social influence, and brand trust on life insurance purchase decisions. Data were collected through a survey of 279 life insurance policyholders aged 25 to 55 in major Indonesian cities. The questionnaire was distributed via insurance agents, online platforms, and financial community networks to ensure diverse respondent participation with varying levels of financial literacy and interest in insurance. Partial Least Squares Structural Equation Modeling (PLS-SEM) was then used to test both direct and indirect effects of these variables. The results indicate that perceived risk and social influence have significant positive effects on purchase decisions, with brand trust serving as a crucial mediating factor, especially in converting perceived risk into purchase action. In contrast, product knowledge does not show a significant effect, either directly or through brand trust, suggesting that better-informed consumers may rely more on personal evaluation than brand reputation. These findings highlight the importance of building brand trust to reduce uncertainty in high-risk purchase decisions such as life insurance. In conclusion, insurance companies should focus on effective communication strategies and brand management to enhance consumer trust, mitigate perceived risk, and encourage purchase decisions in a developing market context like Indonesia.
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