Embedded Files
Anthony Vuillaume
(ENS Paris-Saclay)
TItle: Preferences for prevention in life insurance contracts: a discrete choice experiment
Abstract: The term life insurance market is huge and highly competitive. The market was valued at approximately $1.1 trillion in 2023 and expected to reach $2.4 trillion by 2032 . Insurers, in order to survive in this market, need to differentiate themselves through price, coverage, or the benefits attached to the policy. In addition, individual health risks are increasing in certain areas, such as obesity, sedentary lifestyles, and mental health. Life insurers therefore have increasing interest in encouraging individuals to make preventive efforts in order to better control risk and avoid paying claims. However, prevention remains underdeveloped in the insurance sector, often limited to educational and incentive measures to encourage behaviors conducive to a long and healthy life, without truly maximizing their impact. Combining prevention and insurance coverage within a single contractual relationship coordinated by the insurer could offer two key advantages: firstly, controlling and reducing the risk exposure of policyholders by optimizing preventive behaviors and improving their health; secondly, it would improve the functioning of insurance markets by reducing information asymmetry and the proportion of high-risk individuals. A discret choice experiment (DCE), applied to the prevention incentives provided by the insurer, will make it possible to assess the demand and willingness to pay associated with the different types of prevention that can be included in an insurance contract.
Marine GARREC (IFPEN, GREDEG, EconomiX)
Title: Here or There? The impact of project location on the (un)support for carbon and hydrogen storage: a Discrete Choice Experiment
Abstract:
This article uses Discrete Choice Experiments (DCEs) to investigate the key factors influencing the social acceptability of carbon (CO₂) and hydrogen (H₂) storage projects in France. Two samples were used: one representative of the general French population and another focused on residents living near potential storage sites. While these technologies are essential for achieving carbon neutrality goals, they often encounter local opposition or, at the very least, a lack of public support. The experiments emphasize the importance of information: the study explores how geographical proximity (e.g. the distance between a respondent's home and the proposed storage site) affects risk perceptions and preferences, and whether providing this information alters levels of support or opposition.
Eric Vansteenberghe (Banque de France)
Title: Eco-anxiety and Insurance: Behavioral Experiments
Abstract:
This paper examines the impact of eco-anxiety on the classification of insurance loss data using experiments with Large Language Model (LLM) agents. When individuals experience eco-anxiety, a third perceive risks as uninsurable, while those who still consider them insurable anticipate a 50% increase in expected loss. Additionally, wisdom—proxied by demographic characteristics such as age and experience—has no statistically significant effect on these outcomes. These findings highlight the need for a rational, collective approach to risk assessment that fosters informed action without exacerbating anxiety.
Title: A discrete choice experiment exploring forest owners' preferences for insurance against natural and weather events
Abstract:
Natural hazards threaten forest ecosystems, and this threat is increasing as a result of climate change. Among the relevant means of covering natural risks, insurance is presented as a risk-sharing strategy. Indeed, insurance is seen as a means of financing resilience and adaptation to climate change by numerous international bodies and reports (OECD, 2015; Global Agenda Council on Climate Change, 2014; Article 4.8 of the United Nations Framework Convention on Climate Change (UNFCCC) and Article 3.14 of the Kyoto Protocol). However, adoption of forest insurance by private landowners remains low or non-existent in most European countries due to factors such as cost, lack of knowledge and poor risk perception. In this study, we use a discrete choice experiment to reveal the insurance contract preferences of private forest owners. The results of this study could help to develop forest insurance policies that are better adapted to the needs and preferences of private forest owners, and promote more sustainable and resilient forest management practices in the face of climate change.
Title: Information disclosure and mortgage insurance choice under substandard risk
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