The Impact of Covid-19 on Chinese Insurance Market

DOI

10.2991/978-94-6463-010-7_11How to use a DOI?

Keywords

China; Covid-19; insurance market; negative effect; positive effect

Abstract

In 2020, the Covid-19 spreads around the world, this research focuses on the influences of Covid on the Chinese insurance market. By using theoretical and data analysis, this study finds that this pandemic has negative impact on the market in the short term. There is a sharp decrease in the total premium collected for both social and commercial insurance. However, they rebound in the midterm, when China has control over the spread of the epidemic and resurgence of social activities. In the long term, Covid has a positive effect on the insurance market. People have reduced their prejudice against insurance after the Initiatives of insurance companies in times of this crisis. Furthermore, market is aware of their high dependence on offline sales and imperfection of online platforms. In addition, it also increases the demand of public to purchase insurance.

Copyright

© 2023 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Download article (PDF)

TY  - CONF
AU  - Lingxi Huang
PY  - 2022
DA  - 2022/12/02
TI  - The Impact of Covid-19 on Chinese Insurance Market
BT  - Proceedings of the 2022 International Conference on Artificial Intelligence, Internet and Digital Economy (ICAID 2022)
PB  - Atlantis Press
SP  - 78
EP  - 84
SN  - 2589-4919
UR  - https://doi.org/10.2991/978-94-6463-010-7_11
DO  - 10.2991/978-94-6463-010-7_11
ID  - Huang2022
ER  -