Tourism Growth and Digital Marketing of Insurance Products: An Empirical Study

K Pandieswari; U Arumugam; S Vengadesh

doi:10.34293/management.v13iS1-i2-Feb.10389

K Pandieswari Research Scholar, Department of Corporate Secretaryship, Alagappa University, Karaikudi
U Arumugam Assistant Professor, Department of Corporate Secretaryship, Alagappa University, Karaikudi
S Vengadesh Assistant Professor

DOI: https://doi.org/10.34293/management.v13iS1-i2-Feb.10389

Keywords: Tourism Growth, Digital Marketing Effectiveness, Insurance Adoption, Tourist Behaviour, Empirical Study

Abstract

Travelling is an aspect of the daily life of individuals, and more so for people who have just started being frequent travellers, either as a form of work or leisure. The rise in tourism growth has also been characterized by the growth of travel and health insurance queries and the purchase of the associated insurance products. This can be attributed to the fact that there is an upsurge in the risks that the travelers are likely to face. Social media has been the most influential channel within the insurance market in advertising relevant travel insurance products. The paper explores the possibility of whether a positive relationship exists between the development of tourism and the success in digital social media advertising of insurance products. One hundred and fifty participants were administered a questionnaire, and the analysis was done with the help of the SPSS program. The researcher of this work applied the percentage analysis, chi-square, correlation, and regression analysis to reach the following conclusion. The author discovered that social media (and other travel websites) offer the highest probability of locating the information related to insurance, and social media sites are the most efficient in informing travelers about the insurance products available. The author also hypothesized that there is a direct correlation between the number of times a person travels and the possibility of taking insurance products. Correlation analysis reveals that tourism development is directly proportional to the success of online marketing (r = 0.62). The conclusion that the purchase of travel insurance will be higher with effective advertising by means of social media is also supported by the results of the regression analysis. Moreover, regression analysis proves that the effectiveness of digital marketing is an influential predictor of the adoption of insurance products ( 0.58, p < 0.01). The paper makes empirical findings that tourism development improves the effectiveness of digital marketing campaigns in selling insurance products and has significant implications for insurers and policymakers.