Can major public health emergencies increase the participation of commercial insurance? Evidence from China

Frontiers in Public Health Pub Date : 2024-05-23 DOI:10.3389/fpubh.2024.1363451

Yiqiu Wang, Chong Guo, Yang Xu, Meng Xie

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Abstract

Public health emergencies have a lasting impact on a country's economic and social development. However, commercial insurance can disperse these negative consequences and reduce risk losses.Based on the Chinese Household Tracking Survey and Peking University Digital Inclusive Finance Index, this study employed a difference-in-differences model to test the impact of the COVID-19 outbreak on commercial insurance participation and the impact mechanism.The analysis showed that the outbreak of COVID-19 improved residents' risk perception, risk preference and digital finance and promoted their participation in commercial insurance, commercial endowment insurance, and commercial medical insurance.Major public health emergencies can increase commercial insurance participation, but the promotional effect of commercial insurance on rural and low-income individuals is relatively limited. To tap into potential customers, financial institutions should focus on vulnerable societal groups. This study supplements the relevant literature on the impact of major public health emergencies on commercial insurance participation.

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重大突发公共卫生事件能否提高商业保险的参与度？来自中国的证据

突发公共卫生事件会对一个国家的经济和社会发展产生持久影响。本研究基于中国家庭追踪调查和北京大学数字普惠金融指数，采用差分模型检验了 COVID-19 疫情对商业保险参与度的影响及影响机制。分析表明，COVID-19疫情提高了居民的风险认知、风险偏好和数字金融水平，促进了居民对商业保险、商业养老保险和商业医疗保险的参与。为挖掘潜在客户，金融机构应关注社会弱势群体。本研究补充了重大公共卫生突发事件对商业保险参与度影响的相关文献。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Frontiers in Public Health

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