The Prospect of P2P Insurance Development in Taiwan

• Main Authors: Jhih-Ciang Jheng, 鄭志強
• Other Authors: Dr. Tian, Jyun-Ji
• Format: Others
• Language: zh-TW
• Published: 2018
• Online Access: http://ndltd.ncl.edu.tw/handle/awxxk8

碩士 === 淡江大學 === 保險學系保險經營碩士班 === 106 === As financial technology is becoming more important in the insurance field, P2P insurance is a new trend in the development of internet insurance in foreign countries. P2P insurance which is applied by many financial technologies such as big data and blockchain presents a new insurance operation model. In Taiwan, as the regulatory envioronmetn is more restrictive comparing to the foreign insurance market, P2P insurance has some difficulties to enter Taiwan insurance market. It may take more time to obtain consumers’ trust even if P2P insurance entered Taiwan insurance market. Thus, P2P insurance cannot develop rapidly in Taiwan. As the literature rarely discussed the application and development of P2P insurance, the purpose of this study is to investigate P2P insurance development in Taiwan. This study reviews the development status and cases of P2P insurance in foreign countries. Then, we discuss how P2P insurance can be developed in Taiwan under the premise of following the laws and regulations. By using the questionnaire collected by the respondents, this study analyzes the willingness of purchase P2P insurance. The empirical results showed that respondents were 41 to 50 years old have more willingness to accept P2P insurance (based on broker mode) with lower default risk. If the respondent is married, has only one child, and currently has an annuity insurance or health insurance, he (or she) has more willingness to accept P2P insurance with higher premium (based on broker mode). Respondents which often shop online, aged 31 to 40 and 41 to 50, the average monthly income is 30,000 to 50,000, having annuity insurance or fire insurance have more willingness to accept P2P insurance (based on broker mode). According to the empirical results, if Taiwan deregulate P2P insurance through the supervision of the sandbox bill in the future, it will be more appropriate to adopt the P2P insurance based on broker model.