Exploring the intention of middle-aged and elderly consumers to participate in inclusive medical insurance

With the sudden and heavy consequences of diseases, medical insurance has become a vital part of the medical system. Inclusive medical insurance (IMI) aims to help people manage personal health risks from an economic perspective under the cooperation of government and private enterprises. With the worsening aging phenomenon in China, middle-aged and elderly consumers inevitably need to choose insurance services. However, the diversification of service forms and contents implies potential loopholes that may affect their intention to participate in insurance. In this study, we establish a trust mechanism model combining finance, technology, and institutions; collect and organize data using questionnaires; and explore the link between trust and intention to participate in IMI. Our results show that new service concepts under digital channels can increase financial trust, perceived ease of use affects technical trust, and reputation and security mechanisms positively affect institutional trust. Furthermore, trust transfer occurs among the three types of trust. At the same time, financial trust and institutional trust positively affect middle-aged and elderly consumers’ intention to participate in insurance. The findings of our study have theoretical value and practical implications for IMI research.