An Empirical Study On How Peer Effects Influence The Intention Of Purchasing Travel Insurance Of Chinese Seniors

In recent years,China's tourism economy has continued to develop at a high speed.At the same time,the overall development of China's tourism insurance market has been seriously lagging behind.Its failure to give full play to its support and protection of the Chinese tourism market and it has laid a hidden danger for the healthy and orderly development of the Chinese tourism industry,so that our tourism industry may face more challenges and uncertainties.The elderly group has become an important group in the Chinese tourism market.The elderly group has few channels to learn new things and it will take them a long time to learn something new.At the same time,they are affected by the decline of physical functions and their own health conditions.There exist more uncertain factors in the tourism process,the probability of tourism risks is more greater.Therefore,the demand for the management of tourism risks by the senior in our country is becoming more and more.If we can develop senior travel insurance products according to the characteristics of the seniors in China,we can more specifically make marketing strategies and measures to increase the insurance participation rate of senior tourists,and we can take senior groups as a breakthrough for the development of China's tourism insurance,and then it will help to attach the attention of other groups to travel insurance and increase the consumption of travel insurance,and it can effectively reduce the various uncertain factors of tourists during the trip and further it could ensure the healthy and rapid development of China's travel industry.At the same time,travel insurance has become a new business growth point for China's insurance market,and its development has also helped accelerate China's transition from a major insurance country to a strong insurance country.Therefore,based on the analysis of the characteristics of the seniors in China,this study thinks that peer effects will affect the formation of the intention of seniors to purchase travel insurance.Therefore,based on the theory of peer effects and the characteristics of the consumption behavior of the seniors in China,this research conducts an empirical study on how peer effects influence the intention of purchasing travel insurance of Chinese seniors.The research results show that the influence of peer effects on the intention of purchasing travel insurance of Chinese seniors is based on the synergy of three mechanisms: social learning,conformity and comparison.In addition,factors such as spending power and education level have a significant impact on the formation of China's senior citizens' intention of travel insurance purchase.Perceived risk factors will enhance the neutral perception ofChina's senior citizens' intention of travel insurance purchase.And gender factors have no significant effect on the formation of the intention to purchase travel insurance for the seniors in China.The research in this research has once again proved that the theory of peer effects has a good explanatory in empirical research,and has expanded the application field of the theory of peer effects.The research conclusions of this study provide empirical evidence for combination of peer effects and the research of marketing theory,and it can help marketing theory research to expand to new research directions and problems based on peer effects.The research in this study helps travel insurance marketing agencies to make marketing strategies and measures based on social learning mechanisms,conformity and comparison mechanism,and give full play to the same group effect to promote the development of China's elderly travel insurance market from a micro-level and demand-side perspective.At the same time,the research in this study is also helpful to other countries,which have similar characteristics of the senior group and cultural background with China,to develop senior travel insurance products based on peer effects and to make corresponding marketing strategies and measures.