Compulsive panic buying of insurance in pandemic
Keywords:
panic buying, insurance, pandemic, panic behaviorAbstract
During the pandemic there are different change in of buying behavior and the consumers. If we see the types of consumers they respond differently to the different situations. But there are some areas of business that will show the sudden need in case of the disasters and again forget after the impact of the disaster is not in the range. One among such business is the insurance sector. The impact of the pandemic on buying of the insurance products is similar all over the world and even the way the insurance companies responded with the new products is also commendable. Among the type of the compulsive buying behaviors, buying for the purpose of security and stability is also one of important and it proved again in the pandemic. Even the insurance sales shows a classic example that surge in the insurance sales is not due to the awareness but mostly due to the panic among the public and it is also proved that decline in the fear is relative to the decline in the sales of insurance policy sales. This paper will provide the relative research about the fear that caused to take insurance policies.
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