Customer purchase behavior in the life insurance sector: A bibliometric study and analysis

Abstract

Life insurance plays a crucial role in ensuring long-term financial security; however, consumer purchasing behavior in this sector is influenced by multiple factors. This study conducts a bibliometric analysis of 164 documents published between 1968 and 2024 in the Scopus database, utilizing visualization tools such as Vosviewer and Biblioshiny to identify key research trends. The results show a significant increase in publications in recent years, with a strong focus on financial literacy, psychological biases, trust, and the impact of technology on consumer decision-making. Analysis of the citation and co-authorship networks shows a dispersion of research across countries and a gap in connecting psychological and technological factors with purchasing decisions. This study suggests that future research should further explore the role of AI, Fintech, and trust factors in life insurance consumer behavior to promote the industry's sustainable development.