Research On The Influencing Factors Of Life Insurance Consumption Behavior Of Urban Residents In Guizhou Province

In recent years,Chinese insurance industry has made a rapid progress,and the public demand for life insurance is growing.By the end of 2017,the total income of life insurance premium has reached 2.67 trillion yuan.Life insurance plays an increasingly important role in social risk transfer and economic compensation.At present,the development efficiency of life insurance industry in Guizhou Province is low,and the mismatch between insurance supply and demand is seriously.To study the influencing factors of life insurance consumption behavior of urban residents is helpful to improve the level of insurance consumption,improve the structure of insurance consumption,and make up for the deficiency of relevant theoretical research.Firstly,this paper carefully combs out the relevant literature which affects life insurance consumption behavior of the residents,and then analyzes the factors that affect the residents' life insurance consumption behavior from macro and micro levels by using behavioral economics and mechanism operation theory,and applies social survey to the current situation,existing problems and causes of life insurance consumption behavior of urban residents in Yunyan District of Guiyang City by means of Theoretical research and empirical analysis.The results show that the regression coefficients of gender,age,marriage,family income,land expropriation,population mobility and critical diseases of close relatives are 3.485,3.417,2.580,2.291,2.155,2.294 and 3.341 respectively,indicating that these factors have a significant positive effect on the consumption of life insurance of urban residents in Yunyan District.The regression coefficient of social security level is-0.520,indicating that there is a certain substitution between social insurance and commercial life insurance,while educational background and upbringing conditions have an inapparent effect on the life insurance consumption behavior of urban residents in Yunyan District.Finally,based on the current consumption situation of the life insurance market in Yunyan District,the data of practical investigation and empirical analysis,it is concluded that there are some problems such as the weak consumption ability of the residents' life insurance,the insufficient propaganda and the small difference of the insurance products.Suggestions are put forward from the two levels of the demand and supply of the life insurance.Measures on the demand side,we should speed up the development of Internet insurance,actively optimize the economic level and income distribution policies of low-and middle-income residents,increase insurance publicity,and effectively distinguish the social insurance and commercial insurance protection functions.At the supply level,optimize the design of price elasticity and personalized life insurance products,the innovation of Internet insurance products,and the optimization of men' life insurance product price redefinition,help to enhance the family life insurance consumer willingness.