Study on consumers’ decision-making in insurance services: A behavioural economics perspective – November 2017

Sector: Behavioural and experimental economics | Behavioural Economics | Business and industry | Consumer and firm behaviour | Consumer behaviour | Consumer behaviour and protection | Consumer protection | International institutions | NGOs and consumer advocacy
Client: EC DG Justice and Consumers
Published: 7 November, 2017
Document type:  
Tagged: 2017 behavioural economics behavioural finance cognitive bias consumer behaviour consumer finance consumer protection cost benefit analysis EC/EEA EU experimental economics

This study focused on consumers’ decision-making in the non-life insurance market when purchasing domestically and cross-border. It tested ways to help consumers make better decisions using a behavioural experiment, collected complementary data on the supply side of the market, and examined potential savings consumers could make.