Study Findings on COVID-19 Are Outlined in Reports from Central University of Finance and Economics (Research on Factors Influencing the Demand of Chinese Commercial Health Insurance Caused by COVID-19): Coronavirus – COVID-19

2024 JAN 15 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Investigators discuss new findings in COVID-19. According to news reporting originating from Beijing, People’s Republic of China, by NewsRx correspondents, research stated, “The COVID-19 pandemic in 2020 enhanced the need for commercial health insurance to address the sudden and overwhelming healthcare costs faced by families.”

Our news reporters obtained a quote from the research from Central University of Finance and Economics: “This also led to an increase in the demand for health insurance services requiring insurance companies to innovate and develop suitable services. However, in the context of China, despite the huge potential for growth, health insurance market faces numerous challenges such as inadequate availability of tailored services, educational issues, income limitations, and emphasis on social insurance. To examine the issues and consider areas for improvements, this research investigated the impacts and effects of commercial health insurance from a macro perspective and considered potential recommendations to enhance the effective demand. This paper performed an empirical investigation by using the short panel data for regression analysis. The data was collected over ten years (2010 to 2019) involving 31 provinces in China to establish a fixed effect model. It employed FE and FGLS method to compare and analyze the impact of 9 factors while the health insurance premium was set as the dependent variable.”

According to the news editors, the research concluded: “Results showed that domestic economic development led to increasing residents’ wealth and consumption levels has increased, including healthcare investments. Elevating the awareness of people through education can promote the development of the commercial health insurance demand, but the influence of urbanization level and the aging of the population remain to be demonstrated.”

For more information on this research see: Research on Factors Influencing the Demand of Chinese Commercial Health Insurance Caused by COVID-19. Journal of Risk Analysis and Crisis Response (JRACR), 2023,13(4-5):301-318. (Journal of Risk Analysis and Crisis Response (JRACR) - https://www.atlantis-press.com/journals/jracr). The publisher for Journal of Risk Analysis and Crisis Response (JRACR) is Society for Risk Analysis - China.

A free version of this journal article is available at https://doi.org/https://doi.org/10.54560/jracr.v13i4.414.

Our news journalists report that more information may be obtained by contacting Bo-ya Shi, School of Insurance, Central University of Finance and Economics, Beijing (102206), Beijing, People’s Republic of China. Additional authors for this research include Pei-huan Li, Cun-wen Tao, Cheng-yi Pu. Our reports deliver fact-based news of research and discoveries from around the world.