(Social) Determinants of the Demand for Life Insurance

Project: Research project

Project Details


(Social) Determinants of the Demand for Life Insurance (Social) Determinants of the Demand for Life Insurance Our proposal's main objective is to investigate the impact of social-economic and other determinants of insurance demands. The socio-economic determinants include age, income, education, gender, etc. Additional population composition information such as behavioral and attitudinal characteristics may consist of crime rates or attitudes towards government, climate change, etc. In our work, we hypothesize that these determinants across space impact on different spatial scales the insurance demand, as measured via aggregate premiums. For example, income as a determinant of insurance demand might be affecting it on the scale of the entire USA. The percentage of representatives of a particular minority community can impact determinants of demand of counties' level. At the same time, education or religious affiliations can have a regional or state impact. To address our hypothesis, we plan to use Multi-scale Geographically Weighted Regression (MGWR). The main benefit of using this statistical methodology lies in it's extending the traditional regression-based models and allowing the parameters to vary over space. Thus, the resulting parameter estimates are location-specific, allowing for examining how each determinant's impact differs by geographical area. We propose using county-level data for determinants under investigation.
Effective start/end date7/30/216/5/22


  • Society of Actuaries: $28,732.00


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