Chetty, Jurant2025-01-222025-01-222024Chetty, Jurant. (2024). Factors which influence purchasing life insurance in South Africa [Master’s dissertation, University of the Witwatersrand, Johannesburg].WireDSpace.https://hdl.handle.net/10539/43576https://hdl.handle.net/10539/43576A research report submitted in partial fulfillment of the requirements for the degree of Master of Business Administration in the field of Business Administration to the Faculty of Commerce, Law and Management, University of the Witwatersrand, Johannesburg, 2024In the context of an evolving and innovating financial sector globally, South Africa’s insurance market has shown resilient. However, its ability to maintain this resilience is a question that remains uncertain. in the face of growing innovations and products by big tech and fintech companies. This comparative advantage can be eroded especially with a dynamic consumer landscape. Based on the backdrop of the South African market, the study investigated the varying socio-demographic, social, economic and market motives to take up life insurance and/or cancel life insurance amongst various age groups with a focus on Gen Z consumers. Through an ANOVA analysis technique, the study finds that Gen Z consumers from the perspective of South Africa are motivated to use a product if the insurer demonstrates innovation and that the respective cohort is less sensitive price-sensitive than their counterparts. The result points to a need for insurance companies in South Africa to innovate their products and adequately use effective marketing techniques to attract these studentsen© 2025 University of the Witwatersrand, Johannesburg. All rights reserved. The copyright in this work vests in the University of the Witwatersrand, Johannesburg. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of University of the Witwatersrand, Johannesburg.Life insuranceInsurance motivesGen ZSouth AfricaUCTDSDG-8: Decent work and economic growthDissertationUniversity of the Witwatersrand, Johannesburg