Influential Factorial Analysis of Affecting Corporate Insurance Buying in Bangladesh

The aim of the study is to investigate the influential factorial analysis of affecting corporate insurance buying in Bangladesh. In this study, 23 factors have been used in the study from existing literature for factorial analysis. The study has used Mean Score, Standard Deviation, Weighted Mean score and Ranking applying SPSS23.0 Version. Forty seven (47) Dhaka Stock Exchange (DSE) Listed Insurance Company’s top Executives have been chosen for the study. 12 Life insurance companies and 35 Non-Life Insurance companies’ top executives responses have collected on Five Point Likert Scale. Ranking has used Kaiser – Meyer - Olkin (KMO) & Bartlett's Test of Sphericity for testing sampling adequacy. Communalities, Principal Component analysis, Rotated Varimax, Correlation Matrix for Ranking of factors have been also used for sample validity. It is found from the study that following factors are affecting corporate insurance buying in Bangladesh viz: Moral Hazard and Policy Reliability Factor; Factor of Governance and Corporate Risk Financing For Corporate Claims for Damage; Factor of Tailor Made Insurance Products on Severity of Loss and Affordability; Factor of Quality Insurance Products with wide Coverage and Factor of Physical Hazard of Corporate Firms. The findings are useful for Government, policymakers, regulators, insurance authority and academicians. It is also useful for further study.