Big Data Application for Long-Term Care Insurance

摘要

This paper focuses on the impact of long-term care insurance demands and big data, thus, to complement the shortcomings of existing literature, and to provide advice on individual, corporate, and government-related policies. According to the literature review and expert interview results, the variable of LTCI demand is set as the willingness to pay for LTCI, and the willingness insurance payment amount. It is found that 51.3% of Chinese respondents are willing to purchase LTCI, and the annual amount that respondents willing to pay is RMB 6,006.67 on average. The influencing factors of LTCI demand are the big data cognition of long-term nursing cognition and LTCI. It is found that Chinese respondents agree that the influencing factors of LTCI purchase intention are long-term nursing cognition and LTCI. Moreover, the big data cognition of LTCI has the highest degree of approval. Based on the results, this paper gives suggestions on (1) Big data selection for the type of LTCI system; (2) Selection based on big data for coverage and protection level of insurance; (3) Broadening the financing channels with big data; (4) Enhancing public's awareness of LTCI with big data.