Technology Adoptability of Insurance Agents: A Case Study in Asian Alliance Insurance PLC

Abstract

Insurance companies have identified the worth of using new technological facilities to carry out their business processes effectively and efficiently. One aspect is automating their agents with new technological products to obtain quotations and policy details, pay premiums, review marketing and communicating with customers. Although insurance companies have introduced the latest technological facilities for their agents, the tendency to adopt the new technology is very low. This study applied the Unified Theory of Acceptance and Use of Technology to identify the factors affecting the technology adoptability of insurance agents. A sample of 220 life insurance agents of Asian Alliance Insurance PLC were selected using purposive sampling method and data was collected through a self-administered questionnaire. Correlation and Multiple Regression Analysis were carried out to analyze the data. The results show a significant effect of Effort Expectancy, Facilitating Conditions, Performance Expectancy, Self Efficacy and Anxiety on Technology Adoptability of Insurance Agents. The results imply that the insurance companies should provide more user friendly technological facilities, assess all the users’ requirements, create self confidence among the insurance agents to increase the technology adoptability rate of the insurance agents.