Financial Anxiety as a Factor in Insurance Behavior
4th International Scientific and Practical Conference on Digital Economy and Finances, DEFIN 2021
; 2021.
Article
in English
| Scopus | ID: covidwho-1731305
ABSTRACT
In the context of the economic and political uncertainty associated with the 2019-nCoV pandemic, it is necessary to determine the socio-psychological factors involved in the transformation of the behavior of insurance consumers under the influence of a biogenic threat. This study measures financial anxiety and its impact on the insurance behavior of Russian citizens. The analyses of the financial anxiety of Russian citizens cover three stages of observation before the start of the 2019 nCoV pandemic (N = 766), during the period of quarantine measures announced in Russia in March 2020 (N = 856), and after the relaxation of quarantine measures at the end of April 2020 (N = 963). Psychological analysis data were obtained from the online survey "Financial anxiety (in the context of insurance)". It includes five measurement scales. physical manifestations of financial incentive anxiety, with money shortages and financial uncertainty, the value of insurance coverage, financial confidence, and perception of insurance and investment risks. It was found that Russian citizens consider it important to have insurance coverage for a "rainy day", and they showed confidence in the insurance market during the biogenic crisis. However, unfortunately, during the 19-nCoV-1 Russian citizens did not feel financially secure, unlike in the period before 19-nCoV. Women showed high scores for physical manifestations of financial anxiety and low financial confidence in the future, in contrast to men, regardless of the observation period. © 2021 ACM.
Full text:
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Collection:
Databases of international organizations
Database:
Scopus
Language:
English
Journal:
4th International Scientific and Practical Conference on Digital Economy and Finances, DEFIN 2021
Year:
2021
Document Type:
Article
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