A Comparative Study of Policyholder Behavior and Regulatory Alignment in International Insurance Markets

Abstract

As insurance markets globalize, the diversity of regulatory environments, consumer expectations, and economic conditions presents both opportunities and challenges for international insurers. This study examines policyholder behavior across five key regions—Southeast Asia, Western Europe, North America, Sub-Saharan Africa, and the Middle East—focusing on factors such as trust in institutions, insurance literacy, claim settlement satisfaction, and perceived fairness of policy terms. Using survey responses from 1,200 policyholders and interviews with regulators and multinational insurance executives, the research uncovers significant disparities in consumer behavior and expectations, particularly between developed and developing insurance markets. It finds that while European policyholders prioritize long-term stability and regulatory protection, emerging market consumers place higher value on accessibility, claim speed, and affordability. Regulatory fragmentation remains a barrier to harmonized international insurance operations, affecting service consistency and consumer trust. The paper recommends a tiered framework for regulatory alignment that respects regional contexts while fostering global insurer accountability and transparency, enabling a more inclusive and resilient international insurance ecosystem.