Insurance Demand And Consumption Analysis

On the basis of critique of related knowledge of economic, sociological, and psychological analysis, this article aims to discuss motivation of insurance demand and consumption mentality in the views of economic psychology. In the past, researches on insurance were emphasized on insurance company which is one part of the insurance market, involving product design and exploitation, organizational management, business innovation, market supervision, and financing, whereas, researches on consumer, the other part, were overlooked. Some economists, sociologists, and social psychologists have done some researches on demand and consumption of ordinary consumers in the market in their respective views. However, there exists a different demand motivation and consumption mentality of the consumers to policy of insurance. For their respective logical development of economics, sociology, and psychology, there is a status quo which reflects that they are dissevered and neglected by each other. This situation limits the further studies on demand and consumption, and leads to a lack of scientific explaining power to current social problems. For example, study of consumption psychology focuses its attention on the consumer's individual factors which may affect the consumer's demand motivation and the real consumption behavior, and such researches are located in the paradigm of marketing. Economics takes insurance demand and consumption as an economic phenomenon and emphasizes "instrumental rationality" and "sufficient information". Sociology gives prominence to influence of institution, stratification, and culture on economic behavior. This research tries to analyze various factors that affect insurance demand motivation and consumption behavior by breaking the disciplinary circumscription and synthetizing related theories of economics, sociology, and psychology.The introduction is mainly to discuss concepts of risk, insurance demand and consumption, and the significance of the research. And its purpose is to provide conceptual and methodological support for cross-disciplines. Researches on insurance demand motivation and consumption is helpful to the correct knowledge of the current situation of imbalance in insurance market, to know well about all the factors which may have influence on the residuals' insurance demand and consumption, involvingsubjective-objective factors and macro-micro factors. Moreover, the researches will have specific theoretical and guiding significance for the marketing strategies' adjustment and the managemential strategies' transforming of the insurers,The first chapter of the article points out researching train of thought and framework. The second chapter take a review on related theories in economics, sociology, and psychology, which is related to demand motivation and consumption mentality. And the deficiencies of these theories are argued. The third chapter focuses on the theoretical basis of insurance demand and consumption, involving economic man and social man, social institution of demand and consumption, economic rationality. The fourth, fifth and sixth chapter analyze respectively the economic, social, and psychological factors on affecting insurance demand motivation and consumption mentality. It indicates that the factors which may affect insurance demand and consumption are multiple complicated, and residuals' insurance choices result from many factors. Psychological mentality of insurance demand and consumption is a kink of need and satisfying under certain situation, and it is the linkage of external environment (economic, social, cultural, institutional, traditional, historical and so on) and internal factors (demand motivation and attitude, personal preference, and so forth). Insurance demand and consumption is no mere a economic behaviour which is a function of profit, but a complicated behavioural orientation under synthetical influence of economic environment, historical traditional and culture, consumer's mentality. Fist job of researches on residual insurance demand and...