A Study On The Level Of Development Of Property Insurance In Changsha

As an important part of the financial system and social security system,property insurance industry is one of the basic means of risk management under the condition of market economy.It is one of the basic methods of risk management in the construction of socialist economy and harmonious society.In August 2014,after the State Council has promulgated the 'Ten New Articles',it is clearly stated that the insurance should be promoted as the basic means of risk management and wealth management for government,enterprise and resident,and that the insurance should serve as an important channel to improve both the level and the quality of security.In the 21st century,as China's central region of the forefront of economic development,the property insurance market in Changsha maintains a rapid development speed.However,the share of property insurance in financial system of Changsha is relatively small,highlighting its weak foundation.To summarize,it is of vital importance to seize this opportunity,set our feet on the reality,identify our shortcomings,find out the bottleneck,accurately navigate our efforts and effectively promote its development.Based on the theory of insurance function and the theory of insurance development,this paper utilizes factor model and cluster analysis method to measure the development level of property insurance industry in Changsha and its specific rankings in China.On the basis of this,this paper also comes up with the development strategy from three specific aspects,namely the scale,depth and speed of development.The first part introduces the connotation of property insurance and the development level of insurance industry,and expounds the theory of insurance function,the theory of insurance development and the theory of industrial development.The second part applies the related data,explore the development situation of property insurance in Changsha by field investigation.It analyzes both its development scale and the operation of insurance division to prob the shortcomings in the development process.With the help of factor analysis and cluster analysis method,the third part builds up an evaluation system which includes seven crucial indicatorssuch as the income and compensation of property insurance,the density and the depth of insurance coverage,measuring the development level of 31 major cities in China and illustrating the actual position of Changsha.Finally,combining with the empirical results,this paper puts forward the countermeasures to promote the development of property insurance industry in Changsha from three aspects:development scale,development depth and growth rate.This paper suggests that the property insurance industry in Changsha has developed rapidly in recent years,the overall scale of the industry has expanded,the insurance density and depth have continued to grow,and the service social and economic capacity has been continuously strengthened.But on the national scale,Changsha stands at a moderate level of property insurance industry,revealing an imbalance with its economic status.Therefore,for the purpose to build up a healthy and orderly property insurance in Changsha,three perspectives of thinking are here to be employed:the large-scale development,cooperative development and synergistic development.