An Empirical Analysis Of The Factors Affecting The Demand Of China's Property Insurance Market

Insurance has the functions of distribution risk,compensation loss,economic payment and financial communication,and is an important part of social and economic life.China's insurance industry has been growing at a high rate since its recovery in 1980.Property insurance is the most rapid development of the insurance industry.Studying the characteristics and demand factors of property insurance in China is conducive to the overall development of China's insurance industry.This paper firstly sorts out the development history of China's property insurance market in the past 40 years,and summarizes the characteristics of China's current property insurance market: it has become a big country in terms of scale,but it has not yet become a strong country;property insurance products have a single structure and uneven development.Can meet the needs of industrial development.On this basis,this paper builds the panel data model,selects the data of 31 provinces(autonomous regions and municipalities)in 2011-2016,and uses the fixed effect estimation method to verify the relevant factors affecting China's property insurance demand.The empirical results show that the level of economic development,personal disposable income,fixed investment growth and public insurance awareness can significantly and positively affect the demand for property insurance.The level of economic development and personal disposable income have the greatest effect,while the social security system has The effect of insurance demand is not clear.Finally,this paper has made some policy recommendations to the government departments and property insurance business entities.