The impact of digital finance on household insurance purchases : evidence from micro data in China

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<title>The impact of digital finance on household insurance purchases</title>
<subTitle>: evidence from micro data in China</subTitle>
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<namePart>Hu, Xiao</namePart>
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<namePart>Wang, Zhengjie</namePart>
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<namePart>Liu, Jun</namePart>
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<abstract displayLabel="Summary">Using panel data from the 2013, 2015 and 2017 China Household Finance Survey (CHFS) and the digital finance index developed by Peking University, this study examines the impact of digital finance on household insurance purchases and explores its mechanisms. The results indicate that digital finance can promote household insurance purchases by increasing residents' financial literacy and their accessibility to internet financial services. A heterogeneity analysis reveals that digital finance has a more positive effect on the insurance purchases of households with fewer assets, lower income and located in less developed and rural areas. Regarding the type of insurance, digital finance enhances the purchase of property and life rather than health insurance. The regression results of household insurance purchases on the three dimensions of digital finance show that the breadth of coverage and depth of usage of digital finance have more significant impacts on household insurance purchases than digitalisation level. Robustness checks with different measures and samples, also addressing potential endogeneity using the instrumental variable approach, show the reliability of our findings.

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<note type="statement of responsibility">Xiao Hu, Zhengjie Wang, Jun Liu</note>
<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080624972">
<topic>Seguro multirriesgo del hogar</topic>
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<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080547271">
<topic>Finanzas</topic>
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<topic>Digitalización</topic>
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<subject authority="lcshac" xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080644178">
<geographic>China</geographic>
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<classification authority="">324.1</classification>
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<title>Geneva papers on risk and insurance : issues and practice</title>
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<publisher>Geneva : The Geneva Association, 1976-</publisher>
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<identifier type="issn">1018-5895</identifier>
<identifier type="local">MAP20077100215</identifier>
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<text>06/06/2022 Volumen 47 Número 3 - junio 2022 , p. 538-568</text>
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