Insurance Participation: A New Approach to House Safety Risk Reduction in the Urban Village of Guangzhou, China

Urban village house safety has become a pressing concern in recent years, prompting various initiatives to mitigate these risks. This paper presents an innovative insurance participation approach for managing house safety risks in Guangzhou’s urban villages. We introduce an analytical framework grounded in stakeholder engagement to elucidate the mechanisms by which this insurance approach enhances risk management decisions. Our findings indicate that the insurance participation model fosters more informed decision-making through interactive communication, leading to a more holistic risk management strategy. This approach not only provides the urban village community with a deeper understanding of house safety risks but also ensures that these risks are effectively managed. However, due to the relatively short implementation period, potential shortcomings of the approach have yet to be identified, suggesting a need for ongoing observation and future research.