## 1 Introduction
\begin{table}
\begin{tabular}{c c c} \hline \hline
**Model** & & **Influence Points** \\ \hline [PERSON]’s model (1966) [37] & \(\bullet\) & A mutual relationship between the organization and the consumer. \\  & \(\bullet\) & Feedback area. \\  & \(\bullet\) & The interactive repurchase cycle. \\ \hline [PERSON], [PERSON], and [PERSON] (EKB) model (1968) [38] & \(\bullet\) & Consideration of interactions between both internal and external inputs, information retrieval. \\ [PERSON], [PERSON], and [PERSON] (EKB) model (1968) & \(\bullet\) & Presence of consumers’ perspectives, feedback-search loop, and partial decision making. \\  & \(\bullet\) & The postponent of decision-making. \\ \hline [PERSON] and [PERSON] model (1969) [39] & \(\bullet\) & Inclusion of marketing, social influence, and exogenous variables. \\ \hline [PERSON] and [PERSON] model (1990) [40] & \(\bullet\) & Stage of awareness set. \\  & \(\bullet\) & Passive and active information acquisition. \\ \hline [PERSON] model (1997) [41] & \(\bullet\) & Identification of suspected target groups. \\  & \(\bullet\) & Differentiation and transformation of first time and \\  & \(\bullet\) & repetitive customers. \\ \hline [PERSON], [PERSON] and [PERSON] model (1997) [42] & \(\bullet\) & Impact of social, situational, and mental factors. \\ \hline \hline \end{tabular}
\end{table} 
Table 1: The influence of the main CDM models on digitalized insurance decision-making processes. Source: created by the authors, following [30; 32; 33; 34; 35; 36]. For a long period of time, main CDM models defined in Table 1, together with the expected utility theory have been accepted as a dominant paradigm by economic and marketing researchers, and used practically by organizations to determine and model customer responses to products or services, purchase offerings, and motivational appeals [33; 36]. On the other hand, modeling of the financial attitude and decision-making process in digital platforms has specific circumstances to consider. The stage of the initial problem, problem recognition, or need arousal, together with a non-standard combination of high psychological and monetary risks, internal and external biases associated with certain consequences of financial decision-making, have a strong influence in this field [30; 34]. These particular characteristics of financial decision-making require reframing processes and variables of existing CDM and HCDM models. It is also essential to identify and apply the fundamentals of customer behavior models to the comprehensive examination of the insurance service customer's engagement and characteristics. The following essential points of traditional consumer decision-making models can remarkably contribute to a conceptual framework of the digital insurance decision-making process. Fundamental outcomes of [PERSON]'s (1966) [37] model, as a separation of the buying process to the multiple stages, iterative and constant connection between the organization and the customer (in the form of a feedback area and repurchase cycle) can be identified in the insurance. Relevant factors, considering various endogenous and exogenous variables, marketing stimuli components, process options of partiality, and postponement of decision-making, were presented in the EKB (1968) [38] and [PERSON] and [PERSON] (1969) [39] models. These elements support the content and the context of the modern insurance and decision-making process, but are also limited to apply fully, due to the logic of the linear process and the unmeasured relationships between variables [36; 46]. Later revisions and elaborations of these limitations in the choice set model of [PERSON] and [PERSON] (1990) [40] and the hybrid choice model of [PERSON] and [PERSON] (2002) [43] introduce relevant factors of possible disturbances, irrational behavior, and an unreliable memory of customers, as well as the initial stage of the awareness set [32; 33; 36].