Attitudes to Insurance Risk: Evidence from Italy
18 Pages Posted: 7 Feb 2024
Abstract
Based on a representative sample of Italian adults, this study aims to investigate the socio-demographic and socio-economic characteristics and the level of insurance knowledge that influence attitudes to insurance risk. Furthermore, it tests whether these factors influence the purchase of three non-mandatory insurance products. The results obtained demonstrate that the level of insurance knowledge does not influence insurance risk attitudes but does influence the purchase of non-mandatory insurance products. These results may assist policymakers and institutions in identifying areas of intervention and appropriate communication levers to direct attention toward the voluntary subscription of insurance products.
Keywords: insurance risk attitude, household insurance products, non-mandatory insurance products, life insurance, non-life insurance
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