Análisis de preferencias del consumidor en productos financieros y seguros en el Ecuador.

Abstract

This study aims to understand consumer preferences regarding financial products and insurance in the city of Guayaquil. It employs quantitative methodology using a non-experimental design, adopting a vertical approach and establishing a correlational scope. A questionnaire survey targeting citizens belonging to the economically active population was conducted, aiming for 384 responses. This study comprises four specific objectives: identifying the primary financial products in Ecuador, conducting a descriptive analysis of customer or consumer preferences regarding financial products and insurance, and applying a Principal Component Analysis (ACP) model to identify and explain the key factors influencing consumer preferences. Results showed that preferences for financial products and insurance primarily depend on income, financial literacy, and trust in institutions. However, product cost and complexity remain on barriers to adoption. Statistical analysis by ACP revealed that consumer behavior is safety-driven, with service and trust being decisive factors when purchasing financial services. Consumer trust in financial institutions and the insurance industry is moderate, while the cost of bonuses and the complexity of products constitute significant barriers to purchasing them. This research suggest strengthening financial literacy and promoting mechanisms that help consumers fully understand these products and insurance policies.