6533b7d9fe1ef96bd126b8c9
RESEARCH PRODUCT
The Influence of Behavioral Factors on Insurance Decision – A Romanian Approach
Cristian Buzatusubject
behavioralActuarial scienceEvent (computing)RomanianGeneral EngineeringEnergy Engineering and Power Technologydecision.Group insuranceField (computer science)language.human_languageKey person insuranceAction (philosophy)languageEconomicsRisk poolinsurancedescription
Abstract Although the classical economic theory postulates that individuals should make perfectly rational choices that take into account all the available information, I will present, in the following, the action of behavioral factors on the decisions regarding the insurance against certain events. I will analyze the elements that determine a person who should be covered against a risk, not to buy insurance and the reverse situation when, although the likelihood of the event is reduced, a person will secure against the damage(s) caused by it. In this paper I developed a general approach of the behavioral factors with specific reference to the Romanian market .Finally, I will suggest the insurance companies, as well as the market regulator in Romania,different client approaches and specific protection taking into account customers’ behavioral issues and financial awareness in the field.
| year | journal | country | edition | language |
|---|---|---|---|---|
| 2013-01-01 | Procedia Economics and Finance |