TY - JOUR

T1 - Russian citizens' attitude toward insurance policies as a factor of individual economic security

AU - Medyanik, Olga

AU - Deyneka, Olga

N1 - Olga Medyanik, Olga Deyneka. (2019). Russian Citizens’ Attitude toward Insurance Policies as a Factor of Individual Economic Security. Behavioral Sciences. 10 (1). DOI: 10.3390/bs10010023 www.mdpi.com/2076-328X/10/1/23/pdf

PY - 2019

Y1 - 2019

N2 - Today, insurance enables the functioning of the market system. In modern Russia, such a mechanism of protection against internal and external threats exists to ensure the economic security of each citizen. Indeed, individual insurance policies continue to gain importance as the most effective risk management tool to guarantee the safety of the health and property of private citizens. The goal of this study was to investigate Russian citizens' attitudes towards insurance policies and investment bearing in mind the concept of personal economic security. Preparations for this study were focused on theoretical understandings of economic security problems, taking the field of insurance as an example. Our research consisted of four stages, with a total of 1794 participants. The results of this study can offer insight to improve the functioning of the insurance market in accordance with the framework of the Insurance Industry Development Strategy for the Russian Federation-2020. The obtained results can be used from both a political and economic standpoint in the development of a set of measures dealing with the control of financial institutions, promotion of financial literacy, preparation of courses for universities, and trainings for participants in the insurance market. Policyholders can also use this information to advocate for improved insurance programs for citizens.

AB - Today, insurance enables the functioning of the market system. In modern Russia, such a mechanism of protection against internal and external threats exists to ensure the economic security of each citizen. Indeed, individual insurance policies continue to gain importance as the most effective risk management tool to guarantee the safety of the health and property of private citizens. The goal of this study was to investigate Russian citizens' attitudes towards insurance policies and investment bearing in mind the concept of personal economic security. Preparations for this study were focused on theoretical understandings of economic security problems, taking the field of insurance as an example. Our research consisted of four stages, with a total of 1794 participants. The results of this study can offer insight to improve the functioning of the insurance market in accordance with the framework of the Insurance Industry Development Strategy for the Russian Federation-2020. The obtained results can be used from both a political and economic standpoint in the development of a set of measures dealing with the control of financial institutions, promotion of financial literacy, preparation of courses for universities, and trainings for participants in the insurance market. Policyholders can also use this information to advocate for improved insurance programs for citizens.

KW - insurance behavior; individual economic security; policyholders

KW - insurance behavior

KW - individual economic security

KW - policyholders

UR - http://www.scopus.com/inward/record.url?scp=85078163537&partnerID=8YFLogxK

U2 - 10.3390/bs10010023

DO - 10.3390/bs10010023

M3 - Article

C2 - 31906180

AN - SCOPUS:85078163537

VL - 10

JO - Behavioral Sciences

JF - Behavioral Sciences

SN - 2076-328X

IS - 1

M1 - 23

ER -