Climate change and green insurance: an analysis of purchase intentions among Generation Y in India

Green insurance is becoming an emerging financial tool to solve climate‑change issues by promoting sustainable risk management and responsible environmental actions. In India, where awareness of what influences the uptake of climate-related risks is important, especially within Generation Y, a key group that influences sustainable financial choices—this study adopts a quantitative approach with primary data collected from young Indians through an interview questionnaire. The use of analytical techniques like exploratory factor analysis (EFA) and confirmatory factor analysis (CFA) is growing in popularity. The analysis of the relationships between the variables was conducted using techniques such as CFA and structural equivalence modeling (SEM). The study examined the contacts between key determinants and purchase intention. The results show that green attitude, environmental concern, social value, emotive value, and green marketing efforts have a significant and positive effect on purchase intention. However, high premiums are a substantial obstacle. The study highlights growing environmental awareness among youth and emphasizes the need for affordable, accessible green insurance solutions.