An Empirical Study On The Influence Of Population Structure On The Life Insurance Market

With the rapid development of economy,the population structure of our country has also changed greatly,the rising trend of old-age dependency ratio and children's dependency ratio are becoming more and more obvious,and the years of education and urbanization rate are also increasing.The rise of old-age and young-age dependency ratio puts people under heavy maintenance pressure,and personal insurance can relieve this pressure.The improvement of the years of education and the urbanization rate makes the consumption level of the residents in our country increase,and the insurance consciousness increases,which will increase the effective demand for the personal insurance products and bring new opportunities to the development of the personal insurance market.In recent years,although China's insurance industry has developed rapidly and the premium income has been increasing,the depth of insurance in China is only 4.22% at present,which is still a big gap compared with the level of 12% in developed countries.In this case,based on the perspective of population structure,this paper constructs a panel model,studies the impact of population structure on the life insurance market,and explores new ways to promote the development of life insurance,which is of great significance to the healthy and sustainable development of life insurance.First of all,this paper analyzes the current situation of the natural structure,social structure and regional structure of the population in China on the basis of literature research.This paper analyzes the life insurance market,and points out that the rising rate of premium income in the life insurance market of our country is slowing down,the payment expenditure is relatively stable,and the health insurance products begin to occupy the market share.Secondly,using qualitative analysis method to study the different angles of population structure from the theoretical level,and explain its influence mechanism on the life insurance market.After that,the panel model is established,the data of 2011~2017 in China are selected,and the explanatory variables are selected from the three angles of natural structure,social structure and regional structure of population,and the influence of population structure on the life insurance market is analyzed empirically.The results showed that the old age dependencyratio,sex ratio,years of education,urbanization rate had a significant effect on the development of the personal insurance market,while the child support ratio,marriage ratio and family household size had no significant effect on the personal insurance market.Moreover,the increase in social insurance coverage is not conducive to the development of the personal insurance market,while the increase in the level of economic development per capita contributes to the development of the personal insurance market.Finally,the article summarizes,and according to the empirical results,from the aspects of improving product pertinence,innovating personal insurance products,developing personal insurance industry chain,providing all-round protection,improving the cultural quality of the population,strengthening insurance education,attaching importance to urbanization development,improving insurance purchasing ability,improving insurance industry service level,building talent team and so on,puts forward some countermeasures and suggestions to promote the development of personal insurance market in China.