The Empirical Analysis On Demand Of Property Insurance In Hubei Province

Insurance industry,banking industry and security industry formed the three pillars of the modern financial industry.Property insurance,as a major branch of insurance,has become a important standard to measure the level of social development.Though property insurance market showed the great potential,the fact that the property insurance market scale is small and the acceptance is low still exists.Nowadays,many learners have studied the demand of property insurance systematically.However,instead of exploring the regional property insurance market,the majority of them tend to take the nationwide and even the larger scope property insurance market as research objects.In view of this,according to the current situation of the property insurance market of Hubei Province,the empirical analysis about the demand of it is made in this paper.From the current situation of the property insurance market of Hubei Province,the comparison analysis of the property insurance development statement of six provinces in central part of China is studied in this paper.The influential factors of the demand of the property insurance of Hubei province are theoretical analyzed.At the same time,the influential orientation is predicted and the empirical models are constructed based on time series data and panel data.It takes unit root test,autocorrelation test,D.W.test and White test based on time series data to establish stepwise regression model.The obtained results point out that the increase of per capita disposable income,fixed assets investments and property insurance claim can promote the development of demand of property insurance of Hubei Province.Then it takes unit root test,co-integration test,Hausman test and F test based on panel data to establish modelsl.Panel FGLS estimation,quantile regression modeland GMM estimation are used for the empirical analysis.The obtained results point out that the increase of GDP,per capita disposable income,insurance claim and population growth can promote the development of demand of property insurance of Hubei Province.Finally,some strategic suggestions to the demand of property insurance in Hubei Province are proposed based on the empirical analysis results to promote the stable and healthy development of property insurance market of Hubei Province.