Titre

On the Drivers of Potential Customers' Interest in Long-term Care Insurance: Evidence from Switzerland

Type
article
Institution
UNIL/CHUV/Unisanté + institutions partenaires
Périodique
Auteur(s)
Fuino, M.
Auteure/Auteur
Ugarte, A.
Auteure/Auteur
Wagner, J.
Auteure/Auteur
Liens vers les personnes
Liens vers les unités
Statut éditorial
Publié
Date de publication
2022
Volume
25
Numéro
3
Première page
271
Dernière page/numéro d’article
302
Peer-reviewed
Oui
Langue
anglais
Résumé
As the risks associated with aging start to materialize, societies become more aware of the financial consequences of long-term care (LTC). While limited coverage is available through social insurance in many countries, attractive offers of private products barely exist and a lack of knowledge about LTC insurance persists. Based on a novel survey on aging, health, and dependence conducted in Switzerland, this study aims to comprehend the key drivers that make individuals interested in buying care insurance products for themselves. Using models that combine features from both classical statistics and machine learning techniques, we depict the characteristics of potential buyers based on key economic, social, demographic, and political factors. We find that factors relating to the awareness and understanding of LTC are extremely relevant. Self-perceived health, behavior, and trust relationships between customers and insurers are important. Socio-economic factors only play a secondary role in the decision-making process. Our findings are relevant beyond the academic community and for policymakers and private insurers alike.
Sujets

long-term care insura...

care preferences

care costs

health literacy

PID Serval
serval:BIB_2EE4714D2539
DOI
Permalien
Open Access
Oui
Date de création
2022-08-22T15:44:05.138Z
Date de création dans IRIS
2025-05-20T14:00:23Z
Fichier(s)
En cours de chargement...
Vignette d'image
Nom

Risk Manage Insurance Review - 2022 - Fuino - On the drivers of potential customers interest in long-term care insurance.pdf

Version du manuscrit

published

Licence

https://creativecommons.org/licenses/by/4.0

Taille

3.94 MB

Format

Adobe PDF

PID Serval

serval:BIB_2EE4714D2539.P001

URN

urn:nbn:ch:serval-BIB_2EE4714D25395

Somme de contrôle

(MD5):7aeec9981004b7c5a471a71fd07696bc