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Consumer behavior, in the context of general insurance, is worth exploring to formulate growth strategies for insurance sector in India in light of the proposed structural changes. Indian consumers attract global players due to untapped potential and favorable policy measures initiated for higher foreign direct investments. The purpose of this paper is to understand the prevailing level of service quality as perceived by insurance customers in India in the presence of certain contextual antecedents and moderators.

Perceptions about constructs like customer risk dispositions, awareness, past experiences, customer involvement, choice overload, service quality and satisfaction of 256 customers were collected using a questionnaire survey. A variance-based structural equation modeling helped to identify significant linkages among the constructs.

In order to assess service quality levels, a 15-item scale having the infrastructure, employees, agents and product dimensions was found valid and reliable. Choice overload and customer involvement were found to moderate the influence of antecedents and service quality, respectively. The influence of choice overload on quality perceptions is insignificant. The study concludes that the existing risk beliefs are insufficient, and experiences have less predictive contribution to quality perceptions.

Theoretically, this study examined the process of satisfaction development from service quality perceptions. This study offers insights for developing theories to portray future consumer behavior where more dependence of self-service technologies is expected to dominate service delivery mechanisms in insurance. The study informs that general insurance customers in India prefer more diversified products, more customer-centric employees/agents and better technical quality.

The findings of this study contribute to the understanding of the prevailing insurance consumer behavior in the general insurance sector of India and help insurance service providers in streamlining their strategies for better insurance penetration and reduced lapse rate.

This study helps in understanding the emerging trends in general insurance buying behavior in India.

The purpose of this paper is to clarify the distinctions and complementary of William Baumol and Israel Kirzner’s classifications of and insights into entrepreneurship, and thus providing a more complete taxonomy of the substance of entrepreneurial activity. This paper also attempts to clarify distinctions between unproductive and destructive entrepreneurship.

This paper illustrates a more complete taxonomy of the substance of entrepreneurial activity by examining entrepreneurial innovation in drug markets both legal and illegal, identifying cases of productive, unproductive, superfluous, erroneous, destructive, and protective entrepreneurship.

This paper finds that the classifications of entrepreneurship (productive, superfluous, unproductive, erroneous, protective and destructive) put forth by Baumol, Kirzner, and the institutional entrepreneurship literature are complementary. While Baumol seeks to explain the disequilibrating tendencies of entrepreneurship, Kirzner seeks to explain the equilibrating tendencies of entrepreneurship within the institutional context.

This paper utilizes case studies from legal and illegal drug markets to uniquely and better explain the six cases of entrepreneurship. This paper also contributes to the literature by clearly articulating the complementarity of Baumolian and Kirznerian entrepreneurship.