| With the rapid development of China's social economy,the disposable income of residents' families has shown a sustained and stable growth,which makes a qualitative leap in China's residents' better life than before,and the residents' insurance awareness is also slowly awakening and gradually diversified in-depth enhancement.However,in terms of the current situation of China's insurance market,the enthusiasm of residents' families to participate in the insurance market is not high,and the degree of participation is not deep enough.Moreover,the insurance products in the market are lack of flexibility,and the types are relatively single,which can only meet the needs of a small number of people.At the executive meeting of the State Council held on December 30,2019,Premier Li Keqiang pointed out that China has entered an aging society,with 250 million people over the age of 60.In response to this problem,the meeting proposed to continue to promote the reform of the side supply of the insurance industry,to further open up the insurance market,to increase the innovation of the insurance industry,to enrich the types of insurance products,and to provide commercial insurance products to meet their needs for the majority of Chinese households.Therefore,commercial insurance,as one of the main types of insurance constituting the multi-level social security system in China,not only promotes the economic and financial development,but also has a crucial impact on the governance,decentralization and risk prevention of the people's livelihood.The concept of cognitive ability is gradually put forward by scholars in the study of human intelligence.It refers to the ability of human brain to acquire information,process and store itself.First of all,higher cognitive ability means better collection and acquisition of knowledge about finance and insurance.Secondly,cognitive ability is an important index to measure human capital in the economic field.However,due to the differences of geographical regions and economic conditions,the cognitive problems are different.Therefore,the cognitive difference in cognitive economics mainly reflects the difference of human capital between individuals.To sum up,this paper uses the data of China's family tracking survey(CFPS)in 2018,and first empirically analyzes the relationship between family cognitive ability and commercial insurance demand under different influencing factors through probit model.Then through Tobit model,this paper analyzes the relationship between family cognitive ability and commercial insurance demand under different influencing factors.According to the empirical results,first of all,without considering the influence of cognitive ability,regression analysis is carried out on the sample as a whole: family income,urban household registration,years of education,social gifts,Internet as the main channel to obtain information and other variables have significant positive impact on the demand and demand degree of family business insurance,while gender has significant negative impact on it.To some extent,age can affect the family's demand for commercial insurance,but the effect is not obvious.It can be inferred that the female headed households with higher income and frequent social activities are more likely to purchase commercial insurance and participate in the insurance industry more deeply.When the variables that measure cognitive ability are added to the model for analysis,it can be concluded that with the improvement of cognitive ability,the demand for commercial insurance and the degree of demand will increase.Then,from the perspective of urban-rural structure,age structure,income structure and risk preference degree,this paper analyzes the influence of cognitive ability on the demand and demand degree of family commercial insurance in China.The results show that phrase ability has a significant role in promoting the possibility and demand degree of commercial insurance demand in each structure.Every time the comprehensive cognitive ability of a unit is improved,the probability of rural families' demand for commercial insurance is greater than that of urban families,that is to say,rural families are more inclined to buy commercial insurance,and then it can be inferred that the market potential of commercial insurance in rural areas is larger.From the perspective of age structure,the marginal effect of phrase ability on the demand for commercial insurance will weaken with the increase of age.Memory ability has the greatest marginal effect on the demand for commercial insurance in elderly families.Compared with the marginal coefficients of the comprehensive cognitive ability of the three age groups,the marginal coefficients of the comprehensive cognitive ability of the middle-aged and old families are higher than that of the young families.Therefore,for each unit of improvement of the cognitive ability of the middle-aged and old families,the probability of buyingcommercial insurance is the largest,and the dependence on insurance is deeper.When the households with better income purchase commercial insurance,they are mostly influenced by the ability of phrase,mathematics and memory,and have no significant dependence on the level of intelligence.However,the memory ability of low-income families is not significantly affected by the ability of phrase,mathematics and intelligence.From the perspective of risk preference degree,for every unit of change in comprehensive cognitive ability,risk seekers' families are more inclined to buy commercial insurance,followed by risk neutral families,and finally risk averse families.At the end of this paper,the author makes a systematic summary of the previous analysis,and puts forward practical suggestions according to the conclusions of the analysis. |
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