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Consumer perceptions and purchasing behavior of sustainable insurance products

Author

Listed:
  • Jonas R. Jahnert

    (University of St. Gallen)

  • Hato Schmeiser

    (University of St. Gallen)

  • Meike Zehnle

    (University of St. Gallen)

Abstract

Insurers are beginning to change their business practices and add sustainable attributes to their insurance products. However, little is known about consumers’ reactions to such sustainable attributes in insurance contracts. In three surveys, of which the main study is incentive compatible, we investigate how sustainable attributes affect consumers’ purchase decisions and examine the mediating roles of trust, quality, brand image and perceived consumer effectiveness on purchase intentions. Our results provide converging evidence of a strong preference for sustainable insurance products. Surprisingly, this preference exists even at higher price levels. This can be explained by improved perceptions of the insurance company in terms of brand equity, product quality, and perceived consumer effectiveness.

Suggested Citation

  • Jonas R. Jahnert & Hato Schmeiser & Meike Zehnle, 2025. "Consumer perceptions and purchasing behavior of sustainable insurance products," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 50(3), pages 619-649, July.
    • Handle: RePEc:pal:gpprii:v:50:y:2025:i:3:d:10.1057_s41288-025-00345-4
    DOI: 10.1057/s41288-025-00345-4
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