A Study On The Influence Factors Of Property Insurance Development

Insurance is a risk management approach, plays an irreplaceable role in the healthy development of the national economy. Since the resumption of domestic insurance, property insurance has experienced many years of extensive development. But the development of property insurance in the past two years showed signs of slowing, therefore, based on the empirical analysis method from the following several part discussed the factors influencing the development of the property insurance of our country.The introduction mainly introduces the research background and significance, literature review, ideas and methods, innovation and deficiency. Introduces theproperty insurance development situation, pointed out that property insurance development slowed down in recent two years. Through a large number of foreign and domestic literature research can know that:Awareness of risk and insurance concept, GDP, per capita disposable income, income gap, education and education expenditure are the main factors influencing the development of the property insurance. But the sense of risk and insurance concept is not measurable, and the influence of education level and education expenditure to the awareness of risk and insurance concept is not clear. Then introduces the research ideas and methods, namely through the combination of standardized analysis and empirical analysis, the overall and local interests to study. The possible innovation is that:using economic indicators combined to explain the level of economic development, studying the effect of the level of life insurance with characteristics of Engel coefficient; studying the problem combine macroscopic and microcosmic influence factor.The second part mainly introduces the basic theory of property insurance.Property insurance originated in the maritime insurance, can be divided into liability insurance, credit guarantee insurance and property insurance. Property insurance is insurance mark of diversity, the diversity of insurance insurable risks, the special interests, the amount of insurance can be valuation, short-term and character of compensation. The third part mainly introduced the development of property insurance in China.Since1980, the property insurance in our country has been achieved, the rapid growth of property insurance premium income; insurance personnel increased substantially; insurance company growing; constantly improve the relevant system; the insurance market is becoming more and more mature. But the property insurance in several large insurance development is not balanced, the motor vehicle insurance outshines.The fourth part introduces the property insurance factors theory. Factors influencing the development of the property insurance is the level of economic development, the per capita disposable income, Engel coefficient, civilian car ownership, investment in fixed assets. The level of economic development is the main motive force that property insurance development has been demonstrated by many scholars. According to Maslow’s demand theory, have security needs only to meet physiological demand. Insurance belongs to the category of safety requirements. The per capita disposable income of residents increased can make more out of physiological demand level, thereby increasing the other consumer durable goods. The durable consumer goods will have the insurance demand, thereforeis one of the important factors affecting the development of property insurance. The Engel coefficient also from another angle to explain the consumption level of residents, can be more perfect to the economic development level of understanding; interference can also eliminate the horizontal comparison and bring the price level index. Possession of civil motor vehicles and fixed asset investment variable selection for development of motor vehicle insurance and other insurance imbalance.The fifth part is the empirical analysis of the factors influencing The data are from the National Bureau of Statistics website or by calculation. Using2007-2012panel data of31provinces to carry out regression analysis. First of all,in order to stationarity test data, we use the method of ADF in statal2.0data obtained are smooth. Then analysising the fixed effect model and random effect model, the fitting and analysis results were calculated. Houseman test should be drawn using a random effect model, stationarity test data, using the method of ADF in statal2.0data obtained are smooth. Then analysising the fixed effect model and random effect model, the fitting and analysis results were calculated. Houseman test should be drawn using a random effect model. The obtained regression equation: LNCCBXit=0.3008511*LNGDRit+0.2918855*LNDPIit-0.2764127*LNENit+0.0909195*LNGUit+0.5770757*LNQIit-5.34787;The conclusion is China’s rapid economic development is an important driving force for the development of property insurance. Per capita disposable income increase also has an important influence on property insurance. The country is very rich, but people is very poor. In this special case, In gross national production unchanged, we can increase the per capita disposable income, and improve the property insurance demand. The Engel coefficient also confirms the reasoning, and the Engel coefficient difference is big.so there are much space which could be reduced. Possession of civil motor vehicles also has a considerable effect on the property insurance, and investments in fixed assets have little effect. This explains that the property insurance in our country development is imbalance.The sixth part provides some suggestions for the development of property insurance. To ensure the healthy development of the property insurance in our country, we can work hard from the two aspects. In the macroscopic aspect, we should maintain rapid economic development, promote industrial upgrading and transformation, effectively improve the disposable income of residents, improve the consumption ability, reduce the gap in income distribution, improve social fairness. In the microscopic aspect, we can improve our understanding of risk and insurance and improve insurance image. Insurance companies should improve their management efficiency and management level, strengthen the insurance product innovation.