Society Membership Trend Determinants For Sustainability: An Analysis In Insurance Industry

Abstract

This study investigates the impact of age based gender effect on CPCU society membership trend. Trade associations, membership societies, and other similar groups/unions are no different than any for-profit organizations during different economic cycles, specifically during an economic downturn. When economic condition gets tough, membership related expenses can prove difficult to attain and may cause descent in the membership trend. However, demographic factors, such as, age groups and genders of society members are also factors that impact the process of society membership trend. In our analysis, after controlling for younger age groups, higher age groups are found to be instrumental in impacting the process of trend of CPCU societys membership. This suggests that gender influence on the process of society membership trend is age dependent. Furthermore, gender effect is substantially higher for older age groups in comparison to younger age groups.