Research On The Impact Of Mobile Payment On Household Purchase Of Commercial Insurance

Commercial insurance is an important supplement to the social security system,which plays a key role in promoting socio-economic development and providing security for families.It is an indispensable component of the insurance market.With the rapid development of mobile payment and insurance technology,the connection between mobile payment and the insurance industry has also been increasing in recent years.Studying the influencing factors of family commercial insurance purchase behavior can not only provide new ideas for the further development of the commercial insurance market,but also help us understand family insurance decision-making behavior.Based on the 2019 China Household Finance Survey(CHFS)data,this article uses Probit model and linear regression model to explore the impact of mobile payment on household commercial insurance purchasing behavior.In order to address the impact of endogeneity on the estimation results,this article selects smartphone usage as a tool variable for estimation.The empirical results show that mobile payment significantly improves the probability of household commercial insurance purchase,and significantly increases the purchase scale of household commercial insurance.The heterogeneity analysis results show that the impact of mobile payment on household commercial insurance purchase is significantly different under different registered residence,different cities,and different income levels.The mechanism analysis results show that mobile payment may promote household commercial insurance purchases through two ways: increasing financial knowledge and reducing liquidity constraints.This thesis can provide some reference for taking measures to promote the development of the commercial insurance market.