INFLUENCE OF CORPORATE SOCIAL RESPONSIBILITY ON CONSUMERS' PURCHASE INTENTION OF LIFE INSURANCE IN CHENGDU, CHINA

Abstract

The objectives of this study were 1) to study the effect of Corporate Social Responsibility on trust of life insurance customers, 2) to study the effect of trust on the consumer’s intention to purchased life insurance. This study was a quantitative research. The population of this study was 14.42 million people in Chengdu, China. The sample size was 400 of people in Chendu, China determined by Taro Yamane formula. The research instrument was a 5 rating scale questionnaire. Statistics used for data analysis were percentage, frequency, mean, and standard deviation. The results of the study revealed that 1) most consumers are females between 21 and 30 years old who have a bachelor's degree and work for private companies. The respondents earned the average monthly income of between 10,001 and 30,000, Most of the respondents familiar and have purchased life insurance, mainly from China Pacific Insurance Company. 2) the effect of trust on the consumer’s intention to purchase life insurance for saving purposes and usually chose to make payment by cash on a yearly basis, hypothesis testing found that service quality and CSR have a positive influence on trust among the customers who purchased life insurance. In addition, trust has a positive influence on consumer’s intention to purchase life insurance.