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All Journal International Journal of Multidisciplinary: Applied Business and Education Research
Fria Lyriech Fernandez
Cor Jesu College
Civil Engineering, Building, Construction & Architecture Computer Science & IT Economics, Econometrics & Finance Environmental Science Medicine & Pharmacology

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Digital Financial Literacy and Insurance Purchase Intention: The Mediating Role of Risk Perception Krizha Ela Adlawon; Precious Leah Bulat-ag; Fria Lyriech Fernandez; Ronnette Jumao-as; Ayzelle Majasol; Queennie Purca; Gyrelle Merr Rojas; Jasmine Somera; Janella Gwayn Tapic; Glozy Belle O. Pial; Almira Batulanon; Angelo A. Palmero
International Journal of Multidisciplinary: Applied Business and Education Research Vol. 7 No. 9 (2026): International Journal of Multidisciplinary: Applied Business and Education Rese
Publisher : Future Science / FSH-PH Publications

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.11594/ijmaber.07.09.04

Abstract

With the rise of digital financial services, young adults are widely engaging with digital tools and platforms. Despite this growing involvement, their intention to purchase insurance online remains uncertain. This study examines the relationship between digital financial literacy and insurance purchase intention, considering the potential mediating role of risk perception among digitally active young adults in the Davao Region. Using a quantitative correlational descriptive research design, data were collected from 300 respondents from January 2026 to February 2026 through surveys, using a nonp-probability sampling method that combined quota and purposive sampling techniques. A structured survey questionnaire, adapted from established instruments on digital financial literacy, insurance purchase intention, and risk perception, was used after undergoing expert content validation and pilot testing for reliability. Data were analyzed using JASP through descriptive statistics, Pearson's correlation and mediation analysis with bootstrapping were applied to examine the relationship. Findings indicate that young adults consistently demonstrated a very high level of digital financial literacy alongside high levels of insurance purchase intention and risk perception. Research found that people who know more about finances digitally tend to want insurance more. It turns out, too, that if someone thinks there's a higher risk, they're more likely to consider buying insurance. But interestingly, just because someone is good with digital financial tools doesn't mean they see insurance risks differently than others. These findings indicate that higher digital financial literacy is associated with greater insurance purchase intention, emphasizing the importance of targeted financial education initiatives.
Co-Authors Almira Batulanon Angelo A. Palmero Ayzelle Majasol Glozy Belle O. Pial Gyrelle Merr Rojas Janella Gwayn Tapic Jasmine Somera Krizha Ela Adlawon Precious Leah Bulat-ag Queennie Purca Ronnette Jumao-as