The Impact of Digital Economy on the Development of Insurance——From the Perspective of the Insurance Intermediary's Effectiveness
The digital economy has brought new opportunities for the insurance industry,but research on the impact of the digital economy on insurance is still relatively scarce.This paper explores the effects of the digital economy on promoting insurance devel-opment and the underlying mechanisms.In theory,this paper proposes for the first time that the digital economy promotes insur-ance development through various mechanisms,such as enhancing the effectiveness of insurance intermediaries.Empirically,this paper measures the levels of the digital economy and insurance development in 280 cities at the prefecture level and above from 2011 to 2020.It also introduces insurance intermediary indicators for the first time and conducts econometric analyses based on this data.Empirical results indicate the following findings.First,the digital economy significantly promotes local insurance devel-opment.This conclusion remains robust after various tests,including the replacement of the dependent variable,the use of multiple instrumental variables,and the construction of a multi-period DID model with exogenous shocks.Second,stimulating the vitality of insurance intermediaries,promoting entrepreneurship and employment,and increasing income are the mechanisms through which the digital economy empowers insurance development.Third,the digital economy has a negative spatial spillover effect on insur-ance development.This study contributes to a better understanding of the driving factors behind insurance development and the effects and mechanisms of the digital economy on empowering insurance development.
digital economyinsurance intermediaryBroadband China
NETL
NSTL
万方数据
