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The Impact of Pop Culture on the Demand for Insurance

It’s commonly believed that insurance policyholders make rational decisions to maximize the benefits and protect their assets. Surprising as it may seem, people don’t exercise a high degree of competence and rationality when purchasing insurance products, no matter how complex or abstract they might be. They’re largely influenced by popular culture, which makes them aware of what is going on in the world. It’s the common beliefs and practices that show them what to value as individuals. Movies, shows, art, comics, and books have a really important impact on everyday life.

Popular culture gives more topics to talk about

With the arrival of technology, it has become simple to disseminate information or knowledge across the globe and transform the world into a global society. Popular culture, which is transmitted through mass media, provides more topics to talk about in social settings. You might not know a topic very well, whether it’s insurance or something else, but there’s a good chance that you know something about it. Probably the best-known film about insurance is The Comeback Trail, in which two movie producers attempt an insurance scam to try to save themselves.

New movies, books, and games keep coming out, so people are constantly exposed to new ideas, stories, and artists who bring their own experiences to the table. Insurance, in particular, is very cinematic. If you type the word “insurance” in the search bar, you’ll find a great many films and TV episodes. Examples of Hollywood productions you can watch include The Rainmaker, Along Came Polly, and John Q. Many agree with the fact that older movies have better screenplays as opposed to new ones. Viewers don’t learn all they need to know about insurance, but if they’re interested in the motion picture, they’re encouraged to do some research.

How popular culture influences perceptions about insurance

The power of popular culture has become a parameter for business success. To be more precise, the image that’s created is a key factor influencing clients. Unfortunately, the insurance industry is viewed rather negatively. That’s why it’s important to highlight the positive contributions of the industry and its practitioners to society. The image that is created by the media doesn’t always reflect reality. As a matter of fact, it rarely does. The insurance industry should polish its image, even if it’s confronted with new challenges in the context of globalization. Image is everything in terms of business. With tools like social media, it’s possible to project a positive image onto the world.

People take on insurance to avoid having to face financial consequences resulting from a particular event. Let’s take an example. There are inherent risks to running a barbershop, related to the possibility of injury. It’s possible to minimize exposure by taking out barber insurance. Insurance promotes economic growth by sharing risks, so groundbreaking technologies can be capitalized. All in all, it’s important to understand that insurance benefits society in ways that the average person doesn’t even realize. Understanding these advantages is paramount in terms of justifying the costs of purchasing insurance. 

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