Universal Insurance and the Prospect Theory

Mwenya Mwenya

MPRA Paper from University Library of Munich, Germany

Abstract: In today’s insurance market there is a void that is any one person can have several insurance policies, this entails different providers, different payment schemes etc. There is an opportunity for an insurance company to unite all policies and create a universal insurance (UI) policy, an all in one so to speak. There is an argument that such an policy would be very complex and costly as it would require several specialists to analyse every facets of the purported policy. This need not be the case.

Keywords: Insurance; Prospect Theory; Banks (search for similar items in EconPapers)
JEL-codes: G22 (search for similar items in EconPapers)
Date: 2013-07-07
New Economics Papers: this item is included in nep-ias
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