Research on Factors Influencing the Needs of Chinese Commercial Health Insurance Caused by COVID-19

DOI

10.2991/aebmr.k.210409.004How to use a DOI?

Keywords

Commercial Health Insurance, Effective demand, Panel data analysis

Abstract

With the global spread of pneumonia virus COVID-19 in 2020, commercial health insurance will solve the unbearable expenses faced by families infected by the epidemic. Residents’ demand for health insurance services has increased dramatically, and insurance companies’ innovations in health insurance products have also increased. According to the existing literature, China’s commercial health insurance has huge potential demand, but there are a series of problems such as insufficient segmentation of consumer groups, lack of innovation of products, and lagging business model. Inadequate development of health insurance market leads to less effective demand and hindered industrial development, which is far from meeting the needs of China’s economic and social development. This paper adds the sequential chain structure of risk factors, combines the research of pneumonia epidemic situation in COVID-19, and selects the latest information for panel data analysis to improve the analysis accuracy. In this paper, the panel data of 31 provinces in China are selected to establish a fixed effect model, and the effects of nine factors on the effective demand of commercial health insurance are compared and analyzed by FE and FGLS methods. The results show that the development of domestic economy, the improvement of residents’ wealth consumption level, the increase of financial and residents’ investment in medical and health care, the improvement of residents’ insurance awareness and residents’ education level will promote the development of commercial health insurance demand. According to the above analysis and conclusions, this paper puts forward the following suggestions: in terms of policy, we should adhere to stable economic growth and vigorously develop the insurance industry, coordinate the development of social medical insurance and commercial health insurance to promote each other; in the market, insurance companies should increase product development and enhance the degree of specialization, strengthen linkage communication with consumers and adjust in time close to social needs.

Copyright

© 2021, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Boya Shi
AU  - Chengyi Pu
PY  - 2021
DA  - 2021/04/12
TI  - Research on Factors Influencing the Needs of Chinese Commercial Health Insurance Caused by COVID-19
BT  - Proceedings of the 9th Annual Meeting of Risk Analysis Council of China Association for Disaster Prevention (RAC 2020)
PB  - Atlantis Press
SP  - 27
EP  - 32
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.210409.004
DO  - 10.2991/aebmr.k.210409.004
ID  - Shi2021
ER  -