When customers are willing to disclose information in the insurance industry: A multi-group analysis comparing ten countries

Purpose
The purpose of this paper is to show antecedents of customers’ information disclosure in the insurance industry and demonstrate central levers that foster customers’ information disclosure to companies in the insurance sector.

Design/methodology/approach
A conceptual model is presented, which is empirically tested with 3,494 insurance customers from ten counties with structural equation modelling and multi-group analysis.

Findings
Customer value in the insurance industry consists of three factors (customer value provided by the company, the agent, and the product) and affects information disclosure directly and indirectly (via satisfaction and trust).

Research limitations/implications
Antecedents of customers’ information disclosure in the insurance industry were identified. Moreover, the authors show that, in line with resource exchange theory, customers are willing to disclose personal and behavioral data to an insurance company in exchange for lower premiums or additional services.

Practical implications
Customers expect benefits in exchange for their personal data. In combination with new technologies (e.g. smartphones or wearables), companies can offer tailored products to their customers and can create a win -win situation for customers as well as insurance companies.

Originality/value
The paper identifies the antecedents of customers’ information disclosure in the insurance industry with a conceptual model. This model is tested in ten countries and offers insights in established (e.g. USA) as well as emergent markets (e.g. Brazil).