Empirical Analysis Of Life Insurance Needs. Shandong Province

As a special institutional arrangement, commercial insurance is a necessity of market-oriented economic growth, which plays the role of stabilizator and buffer in the running of economy. With the rapid development of insurance industry, especially the high-speed growth of life insurance, to meet the diversified demand, the innovations in product development, marketing and after-sales service of insurance companies are making more and more impact for insurance consumption. This requires the insurance companies attach importance to market research, understand commercial character, develop more insurance product to fulfill the insurance demand of the people.Based on the theory of life insurance and from the demonstration's point of view, by data analysis, this paper discussed the insurance demand of Shandong province with many factors, such as the income, age of policy-holder, insurance rate, etc. With abundant sample data and from the microcosmic perspective this paper has done deeper research and fetched up the drawbacks of current research which focused on macrocosmic perspective.With the rapid development of Chinese economy and Reforming and opening up, the industry of life insurance will have a lion's share of market. The development of any industry shell follow some economic rules and adapt the needs of consumers. This paper tries to find the demand diversity and give a enlightenment to the operating of insurance.This paper is composed of 5 elements:1 .Introduction, expatiate the background, significance and current research on this issue.2.A brief introduction to consumer demand theory, introduced some kinds of foreign consumer demand theories and discussed the impacts to insurance theoretically.3.Sample selection. Briefly introduced the data in the paper and find out the regularity.4. Regression analysis of correlative factors for insurance demand. The regression from deferent view shows that income, age and insurance rate affect theconsumers derferently.5.Policy suggestions. Based on the result of analysis. As for the commercial demand of insurance, the product development and marketing should have a great relevance and market segmentation. Meanwhile, the research of customer relationship management should be done to fulfill the deferent demands of deferent consumers with pointed services.