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Time windows of opportunities to fight earthquake under-insurance: evidence from Google Trends

Author

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  • Fabrizio Terenzio Gizzi

    (National Research Council (ISPC-CNR))

  • Jonghun Kam

    (Pohang University of Science and Technology
    Pohang University of Science and Technology)

  • Donatella Porrini

    (University of Salento)

Abstract

Earthquake insurance can be a useful tool to build more sustainable societies and disaster-resilient communities. However, the coverage is not common in many countries. This article aims to contribute to the literature through an empirical analysis of the online interest in earthquake insurance through Google Trends. The proposed methodology implies to move from a top-down conceptual approach to a bottom-up/data-enabled one. It allows us to explore potential triggers and dynamic patterns of online interest in earthquake insurance at daily time-scale through the lens of Big Data. In order to validate the methodology, the article considers Italy as a test area. For this country, where the coverage rate is low, we fuse multiple databases to create 16-year daily time series of public search activities about the insurance in Italy and analyse it with other data sources. As a result, the peak analysis shows a connection with the occurrences of large domestic earthquakes, overseas earthquakes, and policy decisions, which create time windows of opportunities for insurers and policymakers to boost the public’s motivation towards the coverages. The research outcomes suggest that the data-enabled approach can additionally be applied in other countries where the coverage rate is low and stakeholders are facing the challenge to strive against earthquake under-insurance.

Suggested Citation

  • Fabrizio Terenzio Gizzi & Jonghun Kam & Donatella Porrini, 2020. "Time windows of opportunities to fight earthquake under-insurance: evidence from Google Trends," Palgrave Communications, Palgrave Macmillan, vol. 7(1), pages 1-11, December.
    • Handle: RePEc:pal:palcom:v:7:y:2020:i:1:d:10.1057_s41599-020-0532-2
    DOI: 10.1057/s41599-020-0532-2
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    10. Sungyoon Kim & Wanyun Shao & Jonghun Kam, 2019. "Spatiotemporal patterns of US drought awareness," Palgrave Communications, Palgrave Macmillan, vol. 5(1), pages 1-9, December.
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    2. Fabrizio Terenzio Gizzi & Donatella Porrini & Francesco De Masi, 2021. "Building a Natural Hazard Insurance System (NHIS): The Long-lasting Italian Case," Sustainability, MDPI, vol. 13(21), pages 1-22, November.
    3. Fu-Wei Huang & Panpan Lin & Jyh-Horng Lin & Ching-Hui Chang, 2023. "The impact of war on insurer safety: a contingent claim model analysis," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-6, December.
    4. Francesco Masi & Donatella Porrini, 2021. "Cultural Heritage and natural disasters: the insurance choice of the Italian Cathedrals," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 45(3), pages 409-433, September.
    5. Donatella Porrini & Francesco Masi, 2021. "Managing climate change risk: the case of the Italian Churches," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 105(3), pages 2619-2637, February.
    6. Shasha Li & Xinyu Peng & Ruiqiu Pang & Li Li & Zixuan Song & Hongying Ye, 2021. "Information Preference and Information Supply Efficiency Evaluation before, during, and after an Earthquake: Evidence from Songyuan, China," IJERPH, MDPI, vol. 18(24), pages 1-28, December.
    7. Fengwan Zhang & Xueling Bao & Xin Deng & Wei Wang & Jiahao Song & Dingde Xu, 2022. "Does Trust Help to Improve Residents’ Perceptions of the Efficacy of Disaster Preparedness? Evidence from Wenchuan and Lushan Earthquakes in Sichuan Province, China," IJERPH, MDPI, vol. 19(8), pages 1-15, April.
    8. Jonghun Kam & Jihun Park & Wanyun Shao & Junho Song & Jinhee Kim & Fabrizio Terenzio Gizzi & Donatella Porrini & Young-Joo Suh, 2021. "Data-driven modeling reveals the Western dominance of global public interest in earthquakes," Palgrave Communications, Palgrave Macmillan, vol. 8(1), pages 1-9, December.
    9. Misato Uehara & Makoto Fujii & Kazuki Kobayashi & Keita Shiba, 2022. "Narrative-Based Disaster Learning Programmes Simultaneously Improve People’s Disaster Awareness Scores, Willingness to Pay and Settlement Preferences," Sustainability, MDPI, vol. 14(11), pages 1-17, May.
    10. Fatma Lestari & Yasuhito Jibiki & Daisuke Sasaki & Dicky Pelupessy & Agustino Zulys & Fumihiko Imamura, 2021. "People’s Response to Potential Natural Hazard-Triggered Technological Threats after a Sudden-Onset Earthquake in Indonesia," IJERPH, MDPI, vol. 18(7), pages 1-17, March.
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