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Page | 34
Chapter 3
Research Methodology
3.1 Elaborating the Conceptual Model
This study will perform with five steps for hypothesis testing.
Step 1 - State the Null and Alternate Hypothesis
X1 H0 : Myanmar People prefer life insurance policies of IKBZ Insurance
Co., Ltd with difference degrees of premium level, the periods of premium payment,
Evaluating
Myanmar
People’s
Preferences for
Life and Health
Insurance
Policies of
IKBZ
Insurance Co,.
Ltd.
“Y”
Myanmar People prefer health insurance
Policy of IKBZ Co., Ltd
Premiums
Benefits
Sales Channels of health
insurance policy
“X2”
Myanmar People prefer life insurance
Policy of IKBZ Co., Ltd
Premiums
Benefits
Sales Channels of life
insurance policies
“X1”
d
Myanmar People prefer life insurance
and health insurance policies of IKBZ
Co., Ltd
Premiums
Benefits
Sales Channels of life and
health insurance policies
“X3”
Page | 35
covering of unexpected risks level, the services of 12-IKBZ branch offices and awareness
of sales channels.
X1 H1 : Myanmar People prefer life insurance policies of IKBZ Insurance
Co., Ltd with no difference degrees of premium level, the periods of premium payment,
covering of unexpected risks level, the services of 12-IKBZ branch offices and awareness
of sales channels.
X2 H0 : Myanmar People prefer health insurance policy of IKBZ
Insurance Co., Ltd with difference degrees of premium level, the periods of premium
payment, covering of unexpected risks level, the services of 12-IKBZ branch offices and
awareness of sales channels.
X2 H1 : Myanmar People prefer health insurance policy of IKBZ
Insurance Co., Ltd with no difference degrees of premium level, the periods of premium
payment, covering of unexpected risks level, the services of 12-IKBZ branch offices and
awareness of sales channels.
X3 H0 : Myanmar People prefer both life and health insurance policies of
IKBZ Insurance Co., Ltd with difference degrees of premium level, the periods of
premium payment, covering of unexpected risks level, the services of 12-IKBZ branch
offices and awareness of sales channels.
X3 H1 : Myanmar People prefer both life and health insurance policies of
IKBZ Insurance Co., Ltd with no difference degrees of premium level, the periods of
premium payment, covering of unexpected risks level, the services of 12-IKBZ branch
offices and awareness of sales channels.
Step 2 - Select the Level of Significance (confidence)
In this study, the level of significance (confidence) is 95% and the determination of
confidence desired for Z value is 1.96 (Z0.05).
Page | 36
Step 3 - Use appropriate test statistic and compute the test.
This study needs test requiring the value of differences and the test statistic will be one-
sample chi-square test and one-sample binomial test (non-parametric test) for determine
whether to reject the null hypothesis and whether or not frequency differences have
occurred on the basis of chance. The formula of “chi-square” test is
X2
= Ʃ(𝐹𝑜−𝐹𝑒)2
𝐹𝑒
Where, X2 = chi-square
Fo = Observed sample in each category
Fe = Expected frequency in corresponding category
The formula of “binomial test” is
P(r) binomial = nCr*pr*q
n-r = (n!p
rq
n-r)(r!(n-r)!)
Where, p(r) = binomial test
r = observations in one category of a dichotomy
(n-r) = observations in the other category, given sample size n
p = the probability of getting the first category
q = (1-p) = the probability of getting the other
Step 4 - Formulate a decision rule, which is a statement of condition under which
the null hypothesis is rejected.
X1 Statistical Notion H0 : Z ≥ Z ∞/2
Statistical Notion H1 : Z ˂ Z∞/2
X2 Statistical Notion H0 : Z ≥ Z∞/2
Page | 37
Statistical Notion H1 : Z ˂ Z∞/2
X3 Statistical Notion H0 : Z ≥ Z∞/2
Statistical Notion H1 : Z ˂ Z∞/2
Step 5 - Make a decision where to reject or not reject the Null.
According to the result from the statistical analyzing of questionnaire, the null hypotheses
will be rejecting or accepting.
3.2 Research Method
This study underpins qualitative and descriptive methodology to conduct of the
investigations for Myanmar people’s preferences of life and health insurance policies
from IKBZ Co., Ltd. For the finding out the answers of the research questions, this study
will approach with exploration, description and hypothesis testing. The types of
investigation are finding out the difference degrees of the dependent and independents
variables by using the measurements of operational delimitation, nominal {Choice
Technique} and ordinal {Likert} in this study. Questionnaires and interviews of the data-
collection methods will help to get logical information from the respondents of each
individual sample units for the data analysis of this research such as feel for data,
confirmation of target population and hypothesis testing.
Page | 38
Research Design Structure
3.1 Figure of Research Design Structure
3.3 Concepts and Variables Operationalization
Labelling Definition Operational
components Measurement
Myanmar People
prefer
life insurance
policies of IKBZ
Co., Ltd
Myanmar People are
interesting and
willing
to buy life insurance
policies
from IKBZ Co., Ltd
- Premium for the life
insurance policies of
IKBZ Co., Ltd
-Benefits for the life
insurance policies of
IKBZ Co., Ltd
-Sales Channels for the
life insurance policies of
IKBZ Co., Ltd
Ordinal
{Likert}
Purpose of
the study
Types of
investigation
Extent of
researcher
interference
Study settingMeasurement
and measures
Unit of Analysis
(Population to be
studied)
Sampling Time horizonData-collection
Method
MEASUREMENT
Operational
definition
Scaling
-ordinal {Likert}
-Nominal {Choice
Technique}
1. Feel for data
-mean
-mode
-median
2. Confirmation of
target
population
-demographic
characteristic by
pie chart display
3. Hypothesis
testing
- one-sample chi-
square test
-one-sample
binomial test
Interview
Questionnaires
DATA ANALYSIS
Individuals
Organizations
Non - Probability
Probability
Sample size (n)
Longtiudinal
DETAILS OF STUDY
Exploration
Description
Hypothesis testing
Establishing:
-Causal
relationships
-Correlations
-ranks
Minimal: Studying
events as they
normally occur
Contrived
"E
va
lua
ting
of M
ya
nm
ar P
eo
ple
's Prefe
ren
ces fo
r L
ife
an
d H
ea
lth In
sura
nce P
olic
ies o
f IKB
Z C
o., L
td
Page | 39
Labelling Definition Operational
components Measurement
Myanmar People
prefer both life
and health
insurance
policies of IKBZ
Co., Ltd
Myanmar People are
interesting and
willing
to buy life and health
insurance policies
from IKBZ Co., Ltd
-Premium for life
and health
insurance policies
of IKBZ Co., Ltd
-Benefits for life
and health
insurance policies
of IKBZ Co., Ltd
-Sales Channels
for life and health
insurance policies
of IKBZ Co., Ltd
Ordinal
{Likert}
Labelling Definition Operational
components Measurement
Myanmar
People prefer
health insurance
policy of IKBZ
Co., Ltd
Myanmar People are
interesting and
willing
to buy health
insurance policy
from IKBZ Co., Ltd
-Premium for the
health insurance
policy of IKBZ
Co., Ltd
-Benefits for the
health insurance
policy of IKBZ
Co., Ltd
-Sales Channels
for the health
insurance policy
of IKBZ Co., Ltd
Ordinal
{Likert}
Page | 40
Labelling Definition Operational
components Measurement
Evaluating
Myanmar
People’s
Preferences for
Life and Health
Insurance
Policies of IKBZ
Co., Ltd.
Revealing the
preferences of
Myanmar People
upon life and health
insurance policies of
IKBZ Co., Ltd.
-Myanmar People
prefer life
insurance policies
of IKBZ Co., Ltd
- Myanmar People
prefer health
insurance policy of
IKBZ Co., Ltd
- Myanmar People
prefer life and
health insurance
policies of IKBZ
Co., Ltd
Nominal
{Choice
Technique}
3.4 The Sampling Plan (Process) for Questionnaires
This study designs with six steeps in sampling process such as target population,
sampling unit, sampling frame, sample design, size of sample and sample plan.
3.4.1 Target Population
The population for Myanmar people is huge elements and it can be take too long
time and used more budgets to collect data for the research questions. Therefore, the
target population from the total population of this study is decided 150 elements of IKBZ
customers by using Judgmental Sampling from the non-probability sampling design to get
the ensured answer for research questions. The people from the population of Yangon and
Mandalay areas are the target population for this paper to collect the information for
hypothesis testing. These target population has more knowledge upon the insurance
policies and interested upon the insurance services than other areas of Myanmar
according to the economic cities.
Page | 41
3.4.2 Sampling unit (Unit of Analysis)
This research was conducted to examine Myanmar people’s preference for life
and health insurance from IKBZ Co., Ltd regarding their considerations of price or
premium of life and health insurance policies, benefits of life and health insurance
policies and sales channels of life and health insurance policies. Life and health insurance
policies of IKBZ Co., Ltd are service products which are relating to people consumption
for avoiding risks. Therefore, the unit of analysis for the evaluating Myanmar people’s
preferences for the life and health insurance policies of IKBZ Co., Ltd is individuals or
organization such as the life or health or both policyholders of IKBZ Co., Ltd and people
who are interested in insurance policies and willing to buy insurance products from the
economic cities Yangon and Mandalay.
3.4.3 Sampling Frame
Sampling Frame represents all of elements of the target population of interest that
consists of a list a set of directions for identifying the target population. Generally, the
sampling frame of this study is a list of people who prefer life insurance policies of IKBZ
Co., Ltd, people who prefer health insurance policy of IKBZ Co., Ltd, people prefer life
and health insurance policies of IKBZ Co., Ltd.
3.4.4 Sample Design
A technique of sampling design for this paper is Stratified Sampling of Probability
Sampling Design. The researcher first divided three strata according to the Myanmar
people’s interested in insurance police of IKBZ Co., Ltd such as people prefer life
insurance policies of IKBZ Co., Ltd (L), people prefer health insurance policy of IKBZ
Co., Ltd (H) and people prefer both life and health insurance policy of IKBZ Co., Ltd
(L+H) from 150 elements of target population.
N = L + H + (L+H)
Then, 150 = L + H + (L+H)
Page | 42
3.4.4 Sampling Design Diagram
3.4.5 Size of Sample
The sample size for the Myanmar people’s preferences of life and health insurance
policies was calculated with the formula of Yamane. (Yamane, 1967)
𝑛 = 𝑁
1+𝑁 𝑒2
where, n = the sample size
N = the size of target population
E = the error of 5 percentage points
Therefore, 𝑛 = 150
1+(150 ∗ 0.052)
n= 110
The sample size (n) will be 172 by using the sample size formula of Yamane with
an error 5% and with the confidence coefficient of 95% from the total target population
300 of three strata. This study will tolerate the error sequences with 5% and the
confidence coefficient level 95%, which is acceptable (1-0.95) Z 0.05 then
Z0.05 = 1.96
Myanamr People prefer life insurance policies of
IKBZ Co., Ltd
Myanmar People prefer heath insurance policy of
IKBZ Co., Ltd
Myanmar People prefere both polices of
IKBZ Co., Ltd
Page | 43
3.5 Sources of Data
To reach the target of the objectives of this research, data are collected from
primary and secondary data.
3.5.1 Primary Data
Primary Data for this study is a questionnaire, which is a set of questions for
gathering information and Interview from individuals of IKBZ customers and Myanmar
people who are interested in insurance products. The questionnaire was collected by
email, telephone and social network (Facebook and Twitter). The answer from the
response of sample size will help to analyze the result of this study with statistical tools.
3.5.1 Primary Data
Social networks
Telephone
Telephone
Social Networks
(Facebook &
Twitter)
Interview
Questioning
Primary Data
Page | 44
3.5.2 Secondary Data
The secondary data was collected from internal sources of IKBZ Co., Ltd.’s
marketing team and the external sources such as magazine, Myanmar Journals,
Newspaper, Internet Website and Text books. The secondary data of this study provides
for the primary research.
3.5.2 Secondary Data
3.6 Data Collection for Questionnaires
Questionnaire will help in gathering information for this study to reach its
objectives. The questionnaire was designed with four parts such as Demographic part,
Myanmar People prefer life insurance policies of IKBZ Co., Ltd part, Myanmar people
prefer health insurance policies of IKBZ part and Myanmar people prefer both life and
health insurance policies of IKBZ Co., Ltd part. At Demographic part, questionnaire will
include questions such as sex, age, education, income level, which polices the participant,
prefers and where the participant lives. At the other three parts, questionnaire will
combine the questions such as price or premium of the insurance policies from IKBZ Co.,
Ltd, benefits of the insurance policies and sales channels of the IKBZ Co., Ltd. The 110
questionnaires will be distributed to the sample elements or Myanmar People who stay in
Social networks
Telephone
Internal Source
Market team of IKBZ
Secondary Data
Magazine
Journals
Newspapers
Social Network
Text Books
External Sources
Page | 45
Mandalay and Yangon area and who are customers of IKBZ Co., Ltd or who are
interested in insurance policies by using the Email, Social Network (Facebook and
Twitter), and Telephone. The questionnaire was the multiple choice questions with the
ordinal {Likert scales} measurement.