Exploration of the impact of demographic changes on life insurance consumption
Empirical analysis based on Shanghai Cooperation Organization
Bibliographic Data
| ID | 15066560 |
|---|---|
| Authors | Zhifeng Zhang (0000-0002-4411-4259, Qingdao University), Haodong Xu (0000-0003-3987-5309, Qingdao University, corresponding author), Shuangshuang Shan (0000-0001-6084-9055, Qingdao University, corresponding author), Yuqi Lu (0000-0002-9602-3551, East China University of Political Science and Law), H Duan (0000-0001-8016-0714, University of Sheffield), Yipin Lyu (Stony Brook University) |
| Year | 2023 |
| Volume | 36 |
| Issue | 2 |
| Publication date | 2023-07-10 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Economic Research-Ekonomska Istraživanja (JOURNAL) |
| Journal identifiers | ISSN: 1331-677X • E-ISSN: 1848-9664 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/1331677x.2022.2134905 |
| OpenAlex | W4308144904 |
| Language | EN |
| Citations received | 1 |
| References cited | 27 |
Based on the panel data of eight member states of Shanghai Cooperation Organization (SCO) from 1996 to 2019, this study explores the impact of demographic changes on life insurance consumption in SCO member countries under the framework of static panel model and dynamic panel model. And the study analyzes the heterogeneity of religious division and different aging degrees. The empirical results show that both old-age dependency ratio and teenager dependency ratio have positive impacts on life insurance consumption in the SCO countries. Besides, the current consumption of ordinary life insurance significantly stimulates the future consumption of ordinary life insurance. Furthermore, demographic changes have heterogeneous impacts on life insurance consumption in terms of different religions and different degrees of aging. Our findings provide managerial implications for insurance companies that carry out life insurance business in SCO member states. Insurance companies should consider the policyholders' life insurance consumption in accordance with demographic changes of both old-age dependency ratio and teenager dependency ratio, and also take differentiated life insurance sales strategies according to different degrees of aging and whether the residents believe in Islam
Actuarial science · Business · Empirical research · Life insurance · Social science · Sociology · Statistics · Healthcare Policy and Management · Insurance and Financial Risk Management · Insurance, Mortality, Demography, Risk Management
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| Citations per year | 1 |
|---|---|
| Citation span | 2025 - 2025 (1) |
| Highly cited | No |