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. 2024 May 23:12:1363451.
doi: 10.3389/fpubh.2024.1363451. eCollection 2024.

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

Yiqiu Wang  1 , Chong Guo  1 , Yang Xu  1 , Meng Xie  2
Affiliations

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

Yiqiu Wang et al. Front Public Health. .

Abstract

Background: 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.

Method: 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.

Results: 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.

Conclusion: 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.

Keywords: COVID-19; commercial insurance; difference-in-differences; digital finance; risk.

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Conflict of interest statement

The authors declare that the research was conducted in the absence of any commercial or financial relationships that could be construed as a potential conflict of interest.

Figures

Figure 1
Figure 1
Test the parallel trend hypotheses. (A) represents parallel trend test for dem, (B) showcases parallel trend test for endowment, and (C) delineates parallel trend test for medical.
Figure 2
Figure 2
This figure shows the placebo test by randomly generating treatment groups. (A) represents placebo test in dem, (B) showcases placebo test in endowment, and (C) delineates placebo test in medical.
See this image and copyright information in PMC

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