 Does online payment promote the purchase of commercial insurance? Evidence from ChinaLifei Gao, Dongni Wang, Guojun Wang and Hao Shi International Review of Economics & Finance, 2025, vol. 98, issue C Abstract: China is a major insurance country, but the insurance density and insurance depth have long been lower than the world average. It has been found in literature that the rapid development of online payments in China promotes individuals' consumption. This research aims to explore whether online payment can promote individuals' purchase of commercial insurance. Using data from the Chinese General Social Survey 2017–2018 and China Household Finance Survey 2017, we apply the probit model, propensity score matching, instrumental variable (IV), placebo test, and other methods to examine impact of online payment on individuals' commercial insurance purchases. We find that online payment can significantly increase the probability of individuals' purchasing commercial medical and endowment insurance, partially by increasing individuals' browsing of Internet information, Internet social interaction and financial literacy. Thus, online payment system development may improve individuals’ risk protection levels. Keywords: Online payment; Commercial insurance; Financial literacy; Internet social interaction; Internet information; China (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:reveco:v:98:y:2025:i:c:s1059056025000577 DOI: 10.1016/j.iref.2025.103894 Access Statistics for this article International Review of Economics & Finance is currently edited by H. Beladi and C. Chen More articles in International Review of Economics & Finance from Elsevier |
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