China: leading reasons for purchasing online insurance for the first time 2021

According to a survey conducted in China in 2021, around 65 percent of respondents bought online insurance for the first time to provide additional protection for family members. The same survey also outlined that advertisement was not a major decision factor for buying insurance. Only 13 percent of respondents stated that they bought online insurance because they saw an advert.

Leading reasons for purchasing online insurance for the first time in China in 2021

Characteristic	Share of respondents
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Release date

November 2021

More information

Region

China

Survey time period

August 2021

Number of respondents

3,155 respondents

Age group

20-60 years

Method of interview

Online survey

Supplementary notes

Multiple answers possible.

50 percent of respondents were male and 50 percent were female.

15 percent of respondents were 20-30 years old, 45 percent were 31-40 years old, 30 percent were 41-50 years old, 10 percent were 51-60 years old.

30 percent of respondents lived in tier-1 cities, 33 percent lived in tier-2 cities, 33 percent lived in tier-3 cities and below.

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

Participants are permanent residents from tier-one to tier-five cities, family wealth products or insurance products regulators, do you use online insurance or need for online insurance, have not participated in a similar study in the three months prior.

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