Welcome to the ARIA 2021 Annual Meeting Agenda App. You are seeing this in simple view. Click on any session to see Presenters, Discussants and a Session Description. Click on Presenters to find a single presenter and their sessions. If you find an error, please email gphillips@aria.org. Registrants have been added and will continue to be updated until 7/29/21 when registration closes. Zoom links will be shared directly with all participants two days prior to the conference. Please make notifications@sched.com a "safe sender" in your email system. We will be sending messages throughout the conference through this medium.
Christoph Jaenicke, University of St. Gallen; Martin Eling, Institute of Insurance Economics
Using representative survey data among the working Swiss population we show that insurance literacy is different from financial literacy. While both literacy measures are higher among men, we observe that financial literacy is largely driven by education, whereas insurance literacy increases with age and income. Insurance literacy occurs more event- than interest-related. Motivated by the differences between both literacy measures, we extend past research on the effect of culture to insurance literacy. We identify a significant and robust heterogeneity in insurance literacy depending on both spatial and cultural affiliation. The magnitude of the cultural effect is high compared to other control variables. Our mediation analysis attributes differences in insurance literacy to different levels of risk preferences across cultural groups. Also with respect to the impact of culture, we observe significant differences between insurance and financial literacy.
