Insurance Literacy and Spatial Diffusion in the Life Insurance Market: A Subnational Approach in Romania

Mare, Codruța; Dragoş, Simona Laura; Dragotă, Ingrid-Mihaela; Dragoș, Cristian Mihai

doi:10.1080/00128775.2019.1618194

Cited by 19 publications

(11 citation statements)

References 40 publications

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“…(2018) and Mare et al. (2019). In detail, Driver et al, focussing on the Australian life and non‐life insurance markets, demonstrate that both the level of insurance literacy and behavioural factors play an important role in personal insurance decision making.…”

Section: Literature Reviewmentioning

confidence: 94%

“…Previous researchers have studied consumers' financial and insurance literacy jointly. They show that both variables positively influence the demand and consumption of life and non‐life products (Bonan et al., 2012; Driver et al., 2018; Lin et al., 2017; Mare et al., 2019; Wells et al., 2015). Moreover, Tennyson (2011) demonstrates that insurance literacy is correlated with financial education, although Lin et al.…”

Section: Research Questionsmentioning

confidence: 99%

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Per aspera ad astra: The big challenge of consumers' insurance literacy

Cucinelli

Lippi

Soana

2021

Int J Consumer Studies

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This paper is a pioneering study on the determinants of customers' insurance knowledge in the Italian market. The analysis considers differences between life and non‐life insurance. Our findings show that socio‐economic variables (specifically family income and financial fragility) and financial literacy play a fundamental role in explaining consumers' insurance knowledge. This result is confirmed for both life and non‐life insurance. Among socio‐demographic factors, gender, the number of children under 18 and the level of education are determinants of global insurance knowledge. However, distinguishing between life and non‐life insurance knowledge, we find the level of education affects the former, while gender and age influence the latter.

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Section: Literature Reviewmentioning

confidence: 94%

Section: Research Questionsmentioning

confidence: 99%

Per aspera ad astra: The big challenge of consumers' insurance literacy

Cucinelli

Lippi

Soana

2021

Int J Consumer Studies

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“…According to Mare et al (2019), the unemployment rate decreases the density of the life insurance market in Romania. The increase in the employment rate increases disposable income, which in turn increases LIP purchases by consumers in the country.…”

Section: Hubener Et Al (2014) Measured Asymmetry In the Pension Income Dis-mentioning

confidence: 99%

Life insurance purchase behaviour: A systematic review and directions for future research

Bhatia

Bhat

Tikoria

2021

Int J Consumer Studies

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This paper presents a framework-based systematic review of existing research to understand the purchase behaviour of consumers for life insurance products. The TCM framework is adopted to provide an organized review of the theory, context and methods used in the articles under review. Antecedents, decisions and outcomes in the context of consumers' life insurance purchase behaviour are also discussed in detail using the ADO framework. The review aggregates 136 unique antecedents derived from 76 relevant articles and classifies them into eight broad categories.Further, the reasons for obtaining a positive or negative effect of a particular antecedent on life insurance purchase decisions or outcomes are also fully explored.Finally, TCM and ADO frameworks are used to identify the research gaps in the extant life insurance literature. Some of the important future avenues of the research, especially from the perspective of behavioural economics and pandemic scenarios such as COVID-19, are then explored.

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“…Generally speaking, the higher the urbanization rate, the more mature the CHI market [48]. As a consumer behavior, purchasing CHI is in uenced by many aspects of society, and the urbanization rate is just a comprehensive index to measure the acceptance [49]. This study assigns 53.38,59.52 and 65.66 as the thresholds for fully out, crossover point, and fully in the high EA set.…”

Section: Measures and Calibrations For Set Membershipmentioning

confidence: 99%

Configurations of Essential Factors Promoting China’s Commercial Health Insurance: A Qualitative Comparative Analysis Based on Technology-Organization-Environment Framework

Huang¹,

Xu²,

Tao³

2021

Preprint

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Background With the improvement in the living standards, China’s health insurance under the social security system cannot satisfy people's diversified and high-level demands. Therefore, it is necessary to promote commercial health insurance (CHI). This study identifies driving paths of CHI in China from configuration perspective. Methods This study innovatively constructs an analysis framework based on the Technology-Organization-Environment theory to investigate the driving path of China's commercial health insurance. Using the data of 31 provincial regions of China in 2018, the fuzzy-set Qualitative Comparative Analysis (QCA) is employed for configuration analysis. For the robustness analysis of necessary condition, we also adopt the Necessary Condition Analysis. Results Three main findings are discovered. First, there is no necessary relationship between any condition and high or not-high performance of CHI and any condition. Nevertheless, there are three sufficient configurations, TOE strategy, GA-EA-CD strategy, and dual EA-CD strategy, to achieve high performance, and another three, TMC-EA-CD strategy, TI-EA strategy, and TI-TMC-EA strategy, to reach not-high performance. Second, technological conditions (TI and TMC) and EA are relatively more important than other conditions. Third, it is confirmed that the financial expenditure of government departments has a negative effect on the development of commercial health insurance. Conclusion There are configurations or pathways to achieve high or not-high performance of promoting CHI and key factors are identified successfully. Each region should choose the driving path suitable for itself, instead of making homogenization policies and replicating policies of regions with high performance. Besides, TC and EA as key factors should be overcome. Finally, the governments should formulate policies to systematically evaluate social insurance and CHI simultaneously and promote their coordinated development.

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Insurance Literacy and Spatial Diffusion in the Life Insurance Market: A Subnational Approach in Romania

Cited by 19 publications

References 40 publications

Per aspera ad astra: The big challenge of consumers' insurance literacy

Per aspera ad astra: The big challenge of consumers' insurance literacy

Life insurance purchase behaviour: A systematic review and directions for future research

Configurations of Essential Factors Promoting China’s Commercial Health Insurance: A Qualitative Comparative Analysis Based on Technology-Organization-Environment Framework

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