Does the subsidy policy for new energy vehicles increase the demand for commercial insurance ?

YunFei Liu

doi:10.63313/EBM.9008

Authors

YunFei Liu School of Statistics and Applied Mathematics, Anhui University of Finance and Economics, Bengbu 233030, China Author

DOI:

https://doi.org/10.63313/EBM.9008

Keywords:

New energy vehicle subsidy policy, commercial insurance, multi-temporal double-difference models

Abstract

The state vigorously develops the new energy automobile industry and launches the new energy automobile subsidy policy, at the same time, the commercial insurance industry is also developing rapidly, does the national new energy automobile subsidy policy have a significant impact on the demand for urban commercial insurance? Based on the theoretical analysis of the impact of the subsidy policy on the demand for commercial insurance, this paper systematically examines the impact of the subsidy policy on the demand for commercial insurance by constructing a multi-temporal double-difference model based on the subsidy pilot policy as a quasi-natural experiment. The results show that: the national new energy vehicle subsidy city pilot policy significantly improves urban commercial insurance demand, air quality as a mediating variable affects the demand for commercial insurance in China, and the implementation of the national new energy vehicle subsidy city pilot policy significantly reduces the AQI of the pilot city and improves urban air quality, which in turn positively affects the demand for commercial insurance. This paper expands the research field of the impact of the new energy vehicle subsidy policy on the behavior of the commercial insurance industry, enriches the theoretical literature on the influencing factors of the development of the commercial insurance industry, and can provide empirical references for the management and adjustment of premiums and so on in the development of the commercial insurance industry.

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