Understanding the Factors Influencing Consumer Decision-Making in the General Insurance Market

Abstract

The general insurance industry in India has witnessed a significant transformation, largely driven by increasing consumer awareness, digital adoption, and changing preferences. This research aims to examine the key factors influencing consumer decision-making in the general insurance market. Using a descriptive research design and a structured questionnaire administered to 200 respondents (primarily aged 25–45 years), the study identifies trust in the insurer (35%), affordability (28%), and digital convenience (21%) as top influencers in the insurance purchase process.

Despite the increasing reliance on digital channels, many consumers still seek human interaction during the final decision-making stages. Factors such as brand reputation, peer recommendations, and transparent claim processing emerged as significant influencers. The study emphasizes the necessity for insurance providers to balance technology with personalized service. The findings provide actionable insights for marketers, product designers, and insurance companies aiming to build consumer trust, improve digital user experience, and tailor offerings based on demographics and consumer preferences