Gender Differences and Automobile Insurance Acquisition

Edimilson Costa Lucas, Wesley Mendes-Da-Silva and Angela Christine Lyons ()
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Edimilson Costa Lucas: Federal University of São Paulo
Wesley Mendes-Da-Silva: Sao Paulo School of Business Administration (FGV/EAESP)
Angela Christine Lyons: University of Illinois at Urbana Champaign

Chapter Chapter 2 in Individual Behaviors and Technologies for Financial Innovations, 2019, pp 25-45 from Springer

Abstract: Abstract This chapter examines the associations between driver gender, risk behavior when driving motor vehicles, and the inclination to acquire automobile insurance. To inform this investigation, a random survey was conducted of 566 middle-class adults. By using nonparametric tests and logit models, the results suggest that even when controlling for other variables, women feel a greater need than men to have automobile insurance in the event of possible accidents under rainy conditions and to have access to driver support services. Women also tend to have more respect for speed limits in various situations, such as during the rush hour, on local roads and on highways. The results also showed that men feel safer than women when driving in more precarious situations: at night, in unfamiliar areas, after drinking, or when they are tired. These results, while contributing to the theoretical development of road traffic and transportation safety, are of special relevance to the financial industry and the regulatory agency. The insurance industry may find these results particularly helpful in designing future policies and setting premiums.

Keywords: Gender differences; Risk taking; Attitude toward driving; Insurance; Traffic safety; G22; J16; L62 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-319-91911-9_2

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DOI: 10.1007/978-3-319-91911-9_2

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