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Insurance Demand in Emerging Asian and OECD countries: A Comparative Perspective

Akhter, Waheed, Pappas, Vasileios, Khan, Saad Ullah (2020) Insurance Demand in Emerging Asian and OECD countries: A Comparative Perspective. International Journal of Social Economics, 47 (3). pp. 350-364. ISSN 0306-8293. (doi:10.1108/IJSE-08-2019-0523) (KAR id:79617)

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Abstract

Purpose: In this paper we aim to assess insurance demand across selected Asian and OECD countries during the period of the global financial crisis.

Findings: We find that global financial crisis affects negatively the general insurance demand particularly in high-income region. Higher dependency ratio in Asia tends to decrease insurance demand, whereas Education in case of Asia positively influences insurance demand indicating that higher literacy rate can be helpful to capture the potential customers. Our results further reveal that life insurance is an important driver for insurance demand in OECD countries whereas general insurance demand is higher in the Asian economies.

Practical Implications: This study is helpful for regulators, policy makers and insurance providers to evaluate, assess and monitor insurance demand in relevant countries.

Originality: This is one of the pioneering studies that have assessed insurance demand among emerging Asian and OECD countries during the period of the global financial crisis.

Item Type: Article
DOI/Identification number: 10.1108/IJSE-08-2019-0523
Uncontrolled keywords: Insurance demand, Asia and OECD regions, Insurance penetrations and BRIP, Global Financial Crisis.
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculties > Social Sciences > Kent Business School > Accounting and Finance
Depositing User: Vasileios Pappas
Date Deposited: 18 Jan 2020 11:14 UTC
Last Modified: 06 Apr 2020 11:07 UTC
Resource URI: https://kar.kent.ac.uk/id/eprint/79617 (The current URI for this page, for reference purposes)
Pappas, Vasileios: https://orcid.org/0000-0003-1885-4832
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