This paper investigates whether an individual’s emotional profile affects their insurance decision making. We explore how the emotional reaction in conditions of ambiguity and the fear of the unknown affect insurance choices. We conducted psychophysiological experiments on a sample of 645 individuals and find evidence that these emotional variables offer contributions by increasing the predictive power of models for insurance demand, alongside traditional socioeconomic variables and psychographic traits. A selective role of emotional influence has been proven to exist when comparing different insurance policies, such as life, health, casualty and indemnity insurance.
Rationality or 'gut feelings': what drives insurance demand?
MARINELLI, NICOLETTA
2012-01-01
Abstract
This paper investigates whether an individual’s emotional profile affects their insurance decision making. We explore how the emotional reaction in conditions of ambiguity and the fear of the unknown affect insurance choices. We conducted psychophysiological experiments on a sample of 645 individuals and find evidence that these emotional variables offer contributions by increasing the predictive power of models for insurance demand, alongside traditional socioeconomic variables and psychographic traits. A selective role of emotional influence has been proven to exist when comparing different insurance policies, such as life, health, casualty and indemnity insurance.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
