Insurance purchasing channels in China 2021, by income

Consumers' insurance buying channels in China as of August 2021, by income

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Sources

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Release date

November 2021

Region

China

Survey time period

August 2021

Number of respondents

3,155 respondents

Age group

20-60 years

Special properties

multiple-choice question; among residents from Tier-1 to Tier-5 cities

Method of interview

Questionnaire

Supplementary notes

High income: monthly household's after-tax income of 26,000 yuan and above.
Higher-middle income: monthly household's after-tax income of 14,000 to 25,999 yuan.
Lower-middle income: monthly household's after-tax income of 7,000 to 13,999 yuan.
Low income: monthly household's after-tax income of 6,999 yuan and below.

One yuan equals 0.15 U.S. dollars and 0.14 euros (as of May 2022).

Among all respondents, high-income households accounted for 26 percent, higher-middle income occupying 48 percent, lower-middle income occupying 21 percent and low income representing five percent.

Purchasing channels: based on consumer’s perception of insurance buying channels in interviews.

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Statistics on " Insurtech in China "

Statistics on Insurtech in China

Overview

5

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4

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5

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Consumer perspective

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