A Structural Model of Perceived Value, Perceived Risk, and Trust in Online Technology on Online Motor Insurance Purchase Decisions
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This study examines the factors influencing consumers’ decisions to purchase motor insurance through online channels in Bangkok and its metropolitan area, focusing on perceived value, perceived risk, and trust in online technology. A quantitative approach was employed using a questionnaire survey of 386 policyholders with experience in purchasing motor insurance online, and the data were analyzed using Structural Equation Modeling (SEM). The results indicate that the proposed model demonstrates an acceptable fit with the empirical data (χ2/df = 1.852, CFI = 0.942, GFI = 0.953, AGFI = 0.903, RMSEA = 0.043). Perceived value has a positive direct effect on trust in online technology and online purchase decision, whereas perceived risk has a negative direct effect on trust in online technology. Trust in online technology also positively influences online purchase decision and mediates the effects of perceived value and perceived risk on online purchase decision. The findings provide strategic implications for the development of online insurance platforms by emphasizing system security, transparency, user-friendly design, and clear communication to enhance perceived value, reduce perceived risk, and strengthen trust in online technology.
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