Research on Long-term Care Insurance: Status Quo and Directions for Future Research
12 December 2018
Law Building (Map Ref F8), Room 201, UNSW, Kensington Campus
Using main path analysis and text mining, we identify three research areas in the field of long-term care insurance (financing, demand, and insurability). We then rely on three established frameworks to systematically evaluate the results in the identified research fields: the Chen (2001) financing framework, the Outreville (2013) insurance demand framework, and the Berliner (1982) insurability criteria. In this context, we also review established and innovative (insurance) solutions for long-term care financing. Our results illustrate the immense difficulties in insuring long-term care both on the demand (e.g., low value of consumption while in care, existence of substitutes) and supply side (e.g., lack of predictability and asymmetric information) explaining the marginal contribution of insurance mechanisms to long-term care financing. Based on this observation, we discuss avenues to overcome the insurability limitations and present future research directions, both from the academic and practitioner points of view.
This is a free event with online registration required.
About Professor Martin Eling
After his doctoral degree in 2005 he joined the Institute of Insurance Economics (St. Gallen) as post doc. In 2008 he was visiting professor at the University of Wisconsin-Madison (USA). Then in 2009 he was appointed Professor of Insurance at the University of Ulm. Since November 2011 he is Director of the Institute of Insurance Economics and holds the Chair for Insurance Management at the University of St. Gallen. Martin Eling is doing empirical research in the intersection of insurance management, mathematics and economics. Current research topics are digitalization (big data and cyber risk), microinsurance, and social insurance (pension and healthcare).