Internet Insurance Research Articles

The impact of digital inclusive finance on high-quality consumption: evidence from Jiangsu, Zhejiang and Shanghai of China

Purpose Digital inclusive finance has a positive promotion effect on the development of the national economy, but little research exists on how digital inclusive finance affects high-quality consumption in economically developed regions. Therefore, to fill the gap, this paper aims to study the impact of digital inclusive finance on high-quality consumption development using the economically developed regions of Jiangsu, Zhejiang and Shanghai as examples. Design/methodology/approach Firstly, the entropy method is used to construct the index of high-quality consumption among residents. Then, the municipal-level data of Jiangsu, Zhejiang and Shanghai from 2011 to 2020 are used to test the impact. Subsequently, the mechanism of action test and heterogeneity analysis are conducted. Findings The results show that digital inclusive finance has a positive role in promoting the high-quality consumption of residents in Jiangsu, Zhejiang and Shanghai. At the same time, digital inclusive finance can promote high-quality consumption through its own digital payment and internet insurance channels. There is regional heterogeneity in the impact. Originality/value To the best of the authors’ knowledge, this study is the first to examine whether and how digital inclusive finance affects high-quality consumption. The authors consider multiple dimensions, such as consumption level, consumption structure, consumption ability, consumption environment and consumption mode, to measure high-quality consumption. The findings provide valuable insights for policymakers, investors and regulators in planning regulations.

Review of the Development of Internet Insurance in China and Countermeasures Research

Review of the Development of Internet Insurance in China and Countermeasures Research

An Empirical Study of Internet Insurance in Taiwan Adopting the Theoretical Framework of UTAUT2

Abstract Insurance company managers must focus on improving the quality of internet insurance services in the near future. Since young people are early adopters of internet insurance, insurance companies in Taiwan must introduce value-added services to young people regarding internet insurance and provide more convenient services to older customers. This study investigated the factors that influence the intention of using internet insurance in Taiwan, adopting the theoretical framework of UTAUT2. The study determined which factors influence the intention to use internet insurance to allow insurance companies to develop more marketing strategies. The results of the study revealed that Performance Expectancy, Effort Expectancy, Facilitating Conditions, Perceived Risk, and Price Value significantly influenced consumers' intention to use insurance online services. Facilitating Conditions were also found to be a mediating variable with enhanced effectiveness between Behavioral Intention and Use Behavior. The intention to use had a significant effect on the Use Behavior of insurance network services. JEL classification numbers: G22, M15, Q55. Keywords: UTAUT2, Intention to use, Internet insurance services.

Role of Perceived Credibility in the Acceptance of Online Insurance Services

The number of studies have been conducted on the acceptance of internet banking but very few studies are available that aims the acceptance of internet technology in insurance. The chief aim of the research study is to explain the factors of UTAUT2 model that determine the intention of user’s to use internet insurance for availing insurance services online. A model was developed and the data was collected through structured questionnaire from those respondents who have health insurance and are using internet insurance services. The collected data was then analyzed through structured equation modeling using IBM AMOS 22.0 .The results showed that UTAUT2 model when integrated with perceived credibility found significant in explaining the online insurance service use behavior. Specifically Performance Expectancy, Perceived Credibility, Social Influence, Effort Expectancy has significant influence on Behavior Intention. Further Facilitating Conditions and Behavior Intention were also found to have statistically significant relationship with Use Behavior.

Effect of Service Quality on Internet Insurance: Focused on Information Technology Development

Effect of Service Quality on Internet Insurance: Focused on Information Technology Development

How Insurance Industry of China Responds to The Crisis of COVID-19

In the context of the normalization of the COVID-19 epidemic, the insurance industry, as an important part of the financial market, has been affected positively or negatively, and its functions such as risk management and social stability have been widely valued. The transformation of the insurance industry is already in progress. In addition to the stimulation of the epidemic, the development of China's insurance industry faces many inevitable challenges in the fight against COVID-19; For example, insurance consumers are not rational, insurance claims are under pressure, offline business is blocked, and other challenges also usher in opportunities such as stimulated insurance demand, marketing upgrading, business transformation, and rapid development of life insurance, health insurance, Internet insurance, and credit insurance. In order to effectively cope with the crisis faced by the insurance industry, insurance companies can learn from international experience, establish emergency response function organizations, open online marketing models, innovate insurance types related to the epidemic, and actively build insurance smart enterprises by using science and technology to do a good job in the prevention and control of COVID-19 epidemic, so as to achieve the sustainable and healthy development of the insurance industry.

Effecting Information Quality of Information System on Corporate Performance: Focused on Internet Insurance

Effecting Information Quality of Information System on Corporate Performance: Focused on Internet Insurance

Effecting System Quality Factors on Purchase Intention of Internet Insurance

Effecting System Quality Factors on Purchase Intention of Internet Insurance

A Traceable Online Insurance Claims System Based on Blockchain and Smart Contract Technology

In the current medical insurance claims process, there are problems of low efficiency and complex services. When a patient applies for medical insurance claims, he/she must go to the hospital to apply for a diagnosis certificate and receipt and then send the relevant application documents to the insurance company. The patient will not receive compensation until the company completes the verification with the patient’s hospital. However, we can improve the current dilemma through blockchain technology. Blockchain technology can effectively open up the information channels of the insurance industry and medical institutions, promote industry integration, and enhance the ability of insurance companies to obtain information. In this research, we used blockchain and smart contract technology to make the following contributions to the development of Internet insurance. First, blockchain and smart contract technology can effectively solve the problem of online underwriting. Second, it is conducive to improving supervision. Third, it is conducive to solving risk control problems. Fourth, it is conducive to effective anti-money laundering. The proposed scheme fulfills the following security requirements: mutual authentication of identities, non-repudiation between each of two roles, and other major blockchain-based security requirements. In the event of a dispute, we also proposed an arbitration mechanism to divide responsibilities.

"ACTUAL PROBLEMS OF LEGISLATION OF THE DEVELOPMENT OF INTERNET INSURANCE IN UZBEKISTAN"

This article will explain one of the new types of insurance called Internet insurance and the need to introduce it into the insurance system of Uzbekistan. Below paragraphs will propose to make amendments into the investment legislation of Uzbekistan regarding the use of Internet

College Students' Cognition of Internet Accidental Injury Insurance: A Case Study of Guangdong Province

Objective: to explore college students' understanding and satisfaction of internet accidental injury insurance, and to analyse the factors influencing college students' awareness and satisfaction of internet accidental injury insurance. Methods: 836 college students in Guangdong Province were selected by stratified ramdon sampling. They were investigated with the self-designed questionnaire "College Students' Cognition of Internet Accidental Injury Insurance (CSCIAII)". Results: 29.67%, 52.18%, 10.13% and 8.02% of the college students didn't know, knew a little, knew relatively well and knew very well about internet accidental injury insurance, respectively. 55%, 16. 82%, 47. 73%, 11. 82% and 14. 09% of the college students satisfied with, , respectively. Conclusion: College Students' awareness of insurance is weak, and they do not pay enough attention to accidental injury insurance. The percentage of college students who are very satisfied with the internet accidental injury insurance, think the internet accidental injury insurance basically meets their own needs, think it is acceptable but needs to be improved, do not agree with and are not satisfied with it at all are 9.55%, 16.82%, 47.73%, 11.82% and 14.09%, respectively. The design, publicity and sale strategies of internet insurance products may be important factors affecting college students' understanding and satisfaction with internet accidental injury insurance.

The Effect of Service Quality of Internet Insurance on Intention to Purchase Online

The Effect of Service Quality of Internet Insurance on Intention to Purchase Online

Spatial Aggregation Analysis and Systemic Risk Prevention of Internet Finance Based on Neural Network Model

With the development of science and technology, the application of neural network model is more and more extensive. In order to avoid the outbreak of financial crisis, economists and policy makers around the world pay special attention to the timely warning of financial crisis. If we can make an accurate early warning of the economic crisis, the government and regulatory agencies will have more time to deal with the possible risks and avoid major interference to economic growth. Based on this, this paper studies the spatial aggregation analysis and systemic risk prevention of Internet Finance Based on neural network model. Based on BP neural network, this paper constructs a spatial econometric model by using spatial econometric analysis method, and analyzes the empirical results of financial spatial aggregation. The results show that the Moran’s I value of China’s Internet finance index in December 2019 is 0.372, P value is 0.001, Moran’s I value of Internet payment is 0.395, P value is 0.002, Moran’s I value of Internet monetary fund is 0.357, P value is 0.001, Moran’s I value of Internet investment and financing is 0.324, P value is 0.002, Moran’s I of Internet insurance is 0.313, P value is 0.001. The results show that there is spatial agglomeration in the development of Internet finance in China. In addition, this paper also studies the systemic risk of Internet finance, analyzes its causes and puts forward corresponding preventive measures.

РОЗВИТОК ІНТЕРНЕТ-СТРАХУВАННЯ У НОВИХ УМОВАХ

The article is devoted to the study of internet insurance development in the light of the new circumstances, including its catalysts and inhibitors. The relevance of the topic chosen is based on the fact that such distribution channel as internet insurance helps to minimize face-to-face contact while insurance services distribution, that plays important role during the pandemic of Covid-19. On the basis of the conducted research different approaches to the definition of "internet insurance" were considered and generalized definition was determined. The article examines the current state of the Ukrainian insurance market and its tendencies. The way of internet insurance development in China and its impact on the whole insurance industry was analyzed. Determined insurance services consumers’ willingness to use digital distribution channels, that showed significant growth in the past year. Although the insurance market in Ukraine is characterized by a low level of insurance culture and there are contradictions in the legislation of the insurance field, insurance companies tend to use innovations, including internet insurance. There are two internet insurance systems: on-line and off-line, which are characterized by different levels of internet use. Matrix of on-line and off-line internet insurance services of top 10 Ukrainian insurance companies in terms of gross insurance premiums is characterized. Insurance companies use combination of internet insurance system and related services based on internet technologies to attract consumers by more personalized offers. Analysis of internet insurance products number and available related services is carried out. Despite benefits of internet insurance there are some problems to deal with. Advantages and disadvantages of internet insurance are analyzed. Prospects for the development of internet insurance in Ukraine are substantiated. In order to enhance development of internet insurance, it is necessary to improve the current legislation of Ukraine and financial literacy. An important point is the use of international experience.

Research on the Development of Internet Insurance in China ——Based on the exploration of the road of Huize insurance

In 2020, Huize insurance came to the market in the United States, which will again push the Inter net insurance industry to the peak of social concern. As the one of three pillars of the financial industry, the Internet insurance industry is generated with the promotion of Internet finance. After experiencing a blowou t growth around 2015, the Internet insurance industry bypassed the monopoly of traditional insurance indust ry, At that time, big and small companies had their own characteristics. But as the policy tightens, Internet i nsurance suffers. With the impact of the epidemic in 2020, people’s insurance awareness is constantly streng thened, and the Internet insurance industry will usher in a spring with its unique advantages. This paper com prehensively reviews the development of Internet insurance, analyzes the main problems of the Internet ind ustry, and put forward development recommendations based on Huize’s business model, explore methods th e Internet industry in the social sense of responsibility, product design, and connect with the epidemic, comb ine with the government, to strengthen the construction of preferential and universal insurance, innovate the PPP mode, combine insurance technology to carry on the prospect.

Service Innovation of Insurance Data Based on Cloud Computing in the Era of Big Data

With the advent of the era of big data, great changes have taken place in the insurance industry, gradually entering the field of Internet insurance, and a large amount of insurance data has been accumulated. How to realize the innovation of insurance services through insurance data is crucial to the development of the insurance industry. Therefore, this paper proposes a ciphertext retrieval technology based on attribute encryption (HP‐CPABKS) to realize the rapid retrieval and update of insurance data on the premise of ensuring the privacy of insurance information and puts forward an innovative insurance service based on cloud computing. The results show that 97.35% of users are successfully identified in test set A and 98.77% of users are successfully identified in test set B, and the recognition success rate of the four test sets is higher than 97.00%; when the number of challenges is 720, the modified data block is less than 9%; the total number of complaints is reduced from 1300 to 249; 99.19% of users are satisfied with the innovative insurance service; the number of the insured is increased significantly. To sum up, the insurance innovation service based on cloud computing insurance data can improve customer satisfaction, increase the number of policyholders, reduce the number of complaints, and achieve a more successful insurance service innovation. This study provides a reference for the precision marketing of insurance services.

КЛЮЧОВІ АСПЕКТИ ІНТЕРНЕТ-СТРАХУВАННЯ

In the conditions of virtualization of economic relations, the subjects of the insurance market can not stay away from these processes, so in order to improve the quality and level of availability of insurance services it is necessary to spread internet technologies in insurance. The main incentive for the introduction of Internet services by insurance companies is the need to reduce costs, expanding the geography of activities, ensuring diversification of risks. No less important factors are simplicity and comfort of on-line purchase of insurance product. The Ukrainian insurance market is at the stage of development and formation, having a number of problems and uncertainties. Therefore, its further information and technological development should receive priority in the economic and social aspects of government policy, taking into account its European integration guidelines. The article deals with the concept of Internet insurance. It is established that the approaches of scientists to the disclosure of the content of the concept of "Internet insurance" have differences. However, they converge on the definition of the Internet insurance as a process of interaction between the insurance representative and the insurer, connected with the provision of insurance services by the insurer, their service, performance of insurance payments in case of occurrence of an insured event due to the use of Internet technologies. The main advantages and disadvantages of online insurance are presented. The list of main advantages includes: simplification of the insurance process, efficiency of registration, simplicity and universality of payment methods, minimization of "human" factor, automation of calculation of the sum insured and tariffs with the help of insurance multicalculator. The list of main drawbacks includes: a much smaller number of insurance products are placed on the Internet sites of insurance companies for sale, the need for the client to understand the nuances and subtleties of working with the site of the insurer, set certain options for insurance amounts, which the client can not change. The stages of obtaining the insurance service through the Internet system have been considered, the offer of services by insurance companies of Ukraine "in live" and "on-line" and innovations on the Internet insurance market of Ukraine have been analyzed, the main spectrum of Internet services providing insurance companies in the Internet has been investigated, the number of insurance companies for the last years has been considered in dynamics. For the further development of Internet insurance it is necessary to improve the legal framework on this issue; it is necessary that the sites of insurance companies contain sufficient information content and for the customers a number of opportunities: obtaining true information about the activities of the insurance company and its services; calculation of the cost of the insurance policy with the help of online calculator; filling in an application for insurance; in case of an insured event, the implementation of remote payment of the insurance policy and insurance payments; delivery of the insurance policy to the customers; and delivery of the insurance policy to the customers.

Impacts of Customer Psychology Analysis on Insurance Marketing Models and Strategies

<p>In recent years, China's insurance industry is developing rapidly and China has become the world's second largest insurance market. As a modern service-oriented industry, insurance is undergoing a transition from a large-scale to a competitive industry and plays an increasingly significant role in people's social life. From the perspective of traditional insurance marketing, this article analyses the features of insurance products and the models and current status of insurance marketing. It explores the existing problems in traditional and internet insurance marketing and provides suggestions for improving the models and strategies of insurance marketing based on customer psychology.</p>

Інтернет-страхування в Україні: проблеми і перспективи

Інтернет-страхування в Україні: проблеми і перспективи

How does the Quantity of Disclosed Information Provided by Insurers Affect Entity Behaviors in Internet Insurance Market?: A Study Based on Tripartite Evolutionary Game Analysis between Government, Insurance Companies and Consumers

The emergence of internet insurance provides a new consumption pattern for insurance consumers in the e-commerce era. However, without insurers fulfilling duty of disclosure, consumers’ interests cannot be guaranteed. This paper will analyze the costs and benefits of three parties (i.e. government, insurance companies and consumers) and their strategies regarding information disclosure of insurance products on the internet. Using an evolutionary game model under bounded rationality assumptions, the Nash Equilibrium (NE) and evolutionary stability strategy (ESS) of the system are explored. The results show that (Disclosing, not Regulating, not Complain) is the best ESS and it is consumers’ buying decision not regulation that ultimately compels insurers to disclose enough information. The different current situations in China and Japan are discussed in light of the model, and some measures are suggested to promote the development of internet insurance markets in both countries.