The Analysis Of Farmers’ Behavior And Motivation For Insurance

The domestic insurance industry resumed operation in 1979. Insurance using its spread risk, loss compensation, finance and investment, and other functions effectively supplement the financial industry of our country.In recent years, a series of the rural social insurance system has been established and perfected. These social insurance effectively guarantee the farmers’ basic life, at the same time commercial insurance companies are also actively developing the rural insurance market and exploring agricultural insurance.Pengyang county is a Minority area in southern Ningxia Province. The farmer’s per capita net income of 2013 is only 5,542 Yuan.This paper use the method of case interviews and questionnaire to analysis Pengyang county farmers insurance behavior characteristics and motives.And using binary regression model as tools to analyze the influence factors of peasant household insurance behavior. We found that in Pengyang county rural the social insurance products is the main insurance product.So this paper mainly analysis social insurance.The results of the survey show that the insurance cognitive level of farmers in Pengyang county is low but the satisfaction of insurance is high. The higher satisfaction is mainly due to the implementation of the new rural cooperative medical system and the new rural endowment insurance brings benefits to the farmers. Farmers’ insurance behavior mainly affected by income, age, risk, and the implementation of the compulsory insurance. Farmers’ mainly insurance motivation are risk prevention, loss compensation, finance and investment, etc.Based on the above conclusion, this paper puts forward some policy Suggestions:(1) to develop the rural economy, increasing farmers income; (2) increasing insurance propaganda, improve farmer’s insurance cognitive level,further release the dividend of social security system; (3) lead the commercial insurance companies get into rural insurance market; (4) the insurance company improve service levels and simplify the claim process; (5) the government coordinated industry organizations to standardize market order.