General Insurance add-ons: Experimental consumer research report

behavioural-and-experimental-economics||114consumer-and-firm-behaviour||114consumer-behaviour-and-protection||56
Sector:Behavioural and experimental economics | Consumer and firm behaviour | Consumer behaviour and protection
Client:Financial Conduct Authority
Published: 13 March, 2014
Document type:Report 
Tagged: experiments quantitative analysis EC/EEA UK

Behavioural experiment by London Economics which formed part of the FCA’s Add-on Insurance Market Study. The experiment with 1,500 UK residents tested for common patterns of consumer behaviour that arise due to add-on insurance mechanisms and assessed how insurance add-ons may lead to poor outcomes for consumers in these markets.