Insurers define absolute risks against which one must protect itself, however individuals evaluate them and protect themselves in function of their life context. To do so, they adjust the ways of protecting themselves to face their personal life events.
Depending on the moment of their life, individuals do not perceive the same risks and do not protect themselves in the same way. They will re-evaluate what needs to be protected and how. The day I buy my first second-hand car, I can decide to decrease the level of my insurance and take care of the non covered claims myself.
Depending on the risks they face, individuals can take different actions to protect themselves. They combine behaviors, insurance and savings to protect themselves. To face the risk of car accidents, I can get an insurance, save money or refrain from driving.
Banks and insurance companies do not help individuals coordinate the use of their own means to manage risks. Individuals are always obliged to define ad hoc the range of practices that seem to them the most appropriate to cover themselves.
Individuals create and adapt their protection against risks. Rather than inventing more complete and complex products, what if banks and insurance simply helped individuals to coordinate their protection?
The insurance sector has a fixed and absolute vision of the risks and the ways people must protect themselves. These assumptions shape insurance products and the relationship that insurance has with individuals. Yet, the ways people protect themselves are multiple and deserve to be studied. Are risk perception and protection practices in line with insurance assumptions? These lessons come from our investigation of risk perception and protection.Découvrir l'étude