Study On The Influencing Factors Of Insurance Consumption Decisions Based On Structural Equation Modeling

Development of China’s insurance industry has got a late start, and at first we only mimic the experience. With the deepening of reform and opening up process, ushered in a rare opportunity for development of the insurance industry, insurance companies have sprung up in front of people. But in development at the same time, ignoring the improvement and standardization of the construction industry’s own structures, accumulating diseases seriously affecting the formation of industry upgrade and product innovation. Development of the insurance industry, and ultimately, dependent on consumer insurance awareness, as well as to the correct interpretation of the insurance, depending on the insurance company’s marketing initiatives, and efforts to reshape the reputation, and benefit from the support of government policies and the effective protection of the law. This article from consumers and insurance companies both deal principals, and insurance factors influence consumer decisions, trying to give feasibility proposals conducive to the development of the insurance industry. This article in the past about spending decisions affecting factors of documents on the basis of the results, with1000interviewees did not purchase insurance for survey respondents, using structural equation modeling and empirical analysis on the factors influencing the insurance and consumption decisions.First, select consumers’subjective factors, insurance products, insurance companies, power construction three latent variables model using AMOS21.0software enter the210respondents to the questionnaire data concludes. Results showed that subjective factors, insurance products, insurance companies, power of consumers on insurance spending decisions affect significant, in which consumers’ subjective factors more influence than impact factor less than the strength of the insurance company of insurance products, this article defines this phenomenon as forced passive. By forcing mean in the case of insurance market is not mature, insurance product is not enough to choose from, life insurance product type with these and decide which insurers purchase what insurance product to consumers is more of a consumer’s personal circumstances, such as consumer attitudes, motivations and ideology, is not an insurance product itself. So-called passive refers to insurance companies in the areas of marketing, services and corporate image effort is the biggest spending decisions consumers make insurance incentives, consumers not to rely on their own subjective initiative in making decisions. It states that insurance consumers in China belong to forced passive.Second, separately according to the level of income and education are divided into two groups and studied. AMOS results show, features two sets of data in the high income and high education than those with lower incomes and less educated persons, this article defines this phenomenon as consciousness. By consciously mean high income or high-educated edge due to income or education than those with lower incomes or with low qualifications who have relatively more independent choices, so they will be more interested in the properties of the product itself. But both the high income group and the low-income group, insurance company’s influence is still the most significant one, and consumers remain passive acceptance of insurance products. That is, although most insurance consumers in China to force passive, however, since some consumers make income or education be integrated into consciousness and passive.Once again, it groups according to age and gender respectively to study. AMOS output report showed that factors in different age groups and gender difference within the group, in other words, consumers of all ages and gender when making insurance consumption decisions, and more valued for their own subjective difference in status or product or insurance company strength, indirect impact is not significant.Finally, in view of the findings, this paper presents parallel supervisory accountability, actively encourages innovation, focusing on subjective factors to eliminate passive insurance consumption and consciousness with innovative high-end products such as conducive to the development of China’s insurance industry workable suggestions. Innovation was mandatory passive and passive consciously conclusions of this paper, there are many deficiencies in the study, the study found that insurance market gradually improved and matured, relying on insurance consumers, operators and the supervision of the principal, but also affects the three major subjects, how to coordinate the relationship between the rnarket and the subject is research a top priority in the future.