Who trusts insurance ? Empirical evidence from seven industrialised countries

Courbage, Christophe (Haute école de gestion de Genève, HES-SO // Haute Ecole Spécialisée de Suisse Occidentale ; Geneva Association, Zurich, Switzerland) ; Nicolas, Christina (Haute école de gestion de Genève, HES-SO // Haute Ecole Spécialisée de Suisse Occidentale ; Université de Limoges, LAPE, Limoges, France)

While the importance of trust in insurance is widely recognised, surprisingly, existing literature on the determinants of trust in insurance remains scarce. This paper investigates the determinants of trust in insurance in seven industrialised countries in Europe, North America and Asia using data from a recent insurance industry survey. We find that trust in insurance is higher among females, younger individuals, and less educated people. On the contrary, people who are more insurance literate have higher trust in insurance. Our findings also show that experiences with insurance are one of the most important determinants of trust in insurance, with the negative effect of a bad experience being more pronounced than the positive effect of a good experience. Finally, access to information related to insurance through the internet deters trust in insurance, while access to information through newspapers and magazines promotes it.


Keywords:
Conference Type:
full paper
Faculty:
Economie et Services
School:
HEG - Genève
Institute:
CRAG - Centre de Recherche Appliquée en Gestion
Subject(s):
Economie/gestion
Informatique
Publisher:
Roma, Italy, 19-22 September 2019
Date:
2019-09
Roma, Italy
19-22 September 2019
Pagination:
33 p.
Published in:
Proceedings of the 46th Annual Seminar of the European Group of Risk & Insurance Economists
External resources:
Appears in Collection:



 Record created 2019-09-24, last modified 2019-09-30

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