Wharton Research Scholars

Document Type

Thesis or dissertation

Date of this Version



This study investigates the impact of culture on non‐life insurance consumption. Various economic institutional, and cultural variables regarding 82 countries across a 10‐year period are considered when building up the best and most parsimonious regression model. Employing blocking and bootstrapping techniques, we find that nations with a low degree of Power Distance, a high level of Individualism, and a high degree of Uncertainty Avoidance tend to have a high level of non‐life insurance consumption. The
empirical results suggest that consumers may respond to insurance solicitations according to their cultural belief, not only economic rationality.

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Insurance Commons



Date Posted: 16 November 2011