THE EFFECTS OF CONSUMERS' BUYING BEHAVIOR PRACTICES ON NON-LIFE INSURANCE PRODUCTS: IN CASE OF ETHIOPIAN INSURANCE CORPORATION WOLDIA BRANCH

<em> <strong>Abstract</strong></em> <em>Consumer behavior is the behaviors individuals’ exhibit when they look for, buy, use, evaluate, and discard goods and services. There are unlimited factors that affect consumer behavior including demographical, cultural, social, economic, marketing, and psychological. The aim of this study was to examine whether Companies Loyalty, Service Quality, Satisfaction Level, awareness and premium were factors that affect consumer behavior towards purchasing non-life insurance policy. The study used a quantitative research approach with an explanatory and descriptive research design. The respondents were using the convenience sampling technique. To attain the objective of the study, primary and secondary data was used. Primary data collected through a questionnaire from a sample of 250 taken from 670 non-life insurance policy users at Ethiopian Insurance Corporation. And Also, Secondary data from national bank of Ethiopia annual report and Ethiopian Insurance Corporation woldia branch annual report. The Data was analyzed using descriptive statistics (frequencies, percentages, means and standard dilation) and inferential analysis (correlation, multiple linear regression, and ANOVA) via SPSS 25 software. In correlation of Companies Loyalty, Service Quality, Satisfaction Level, awareness and Premium have a moderate relationship with consumer behavior towards using a non-life insurance policy<strong>. </strong>In regression analysis the independent variables like company loyalty, Service Quality, Satisfaction Level, awareness and Premium have a positive and statistically significant effect on consumer behavior to purchase non-life insurance policy. To address the major objective of this study, the researcher provided possible recommendations relevant to it. The concerned government bodies, insurance companies and academicians should facilitate discussions, conferences, workshops and trainings can be provided that help to develop the communities’ knowledge, awareness and perception about insurance in general as well as non-life insurance in particular. Specially the insurance Companies should give proper knowledge about the policies and should understand the needs of each customer. The financial need should be capitalized by the Companies. </em>