Study Results from University of Turin Provide New Insights into Engineering (Black Box Technology, Usage-based Insurance, and Prediction of Purchase Behavior: Evidence From the Auto Insurance Sector): Engineering

2022 OCT 05 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- New research on Engineering is the subject of a report. According to news originating from Turin, Italy, by NewsRx correspondents, research stated, “Disruptive technologies are changing the car insurance sector, with behavioral and adaptive impacts for in-dividuals as well as organizations. An innovative factor in this industry is connected to telematics and concerns the installation of a small device called a ‘black box’, which is becoming more and more widespread, with consequent financial impacts on the insurance policy market.”

Our news journalists obtained a quote from the research from the University of Turin, “However, the psychological drivers that underpin consumers’ intentions to purchase black box auto insurance are scarcely researched. To fill this gap, we used a mixed-methods sequential exploratory design to analyze a sample of 757 consumers. Our results, obtained through PLS-SEM, highlight that attitude, awareness, subjective norms, risk perception, and trust have a sig-nificant positive influence on consumers’ intentions to purchase black box technology auto insurance, while the effect of perceived behavioral control is not supported. Furthermore, the blindfolding analysis underscores the predictive relevance of the model.”

According to the news editors, the research concluded: “Our results have important implications for auto insurance companies interested to better understand consumers’ needs and motives in relation to the purchase of black box insurance.”

This research has been peer-reviewed.

For more information on this research see: Black Box Technology, Usage-based Insurance, and Prediction of Purchase Behavior: Evidence From the Auto Insurance Sector. Technological Forecasting and Social Change, 2022;183:121896. Technological Forecasting and Social Change can be contacted at: Elsevier Science Inc, Ste 800, 230 Park Ave, New York, NY 10169, USA. (Elsevier - www.elsevier.com; Technological Forecasting and Social Change - http://www.journals.elsevier.com/technological-forecasting-and-social-change/)

The news correspondents report that additional information may be obtained from Enrico Battisti, University of Turin, Turin, Italy. Additional authors for this research include Simona Alfiero and Elias Hadjielias.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1016/j.techfore.2022.121896. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.

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