An Empirical Study On The Influential Factors Of Family Property Insurance Demand In Guangzhou

Family property insurance refers to an insurance that takes the property owned by urban and rural residents or the property held by others as the subject of insurance.It is one of the insurance types in which insurance business in China is relatively early.However,as the main insurance for the protection of family property,it has shown a trend of slow growth in recent years.China has a large population.At the same time of rapid economic development,the potential demand for residents' property insurance is huge,but in fact the effective demand is seriously insufficient.This paper selects the Guangzhou city with developed insurance market as the research object.Based on the in-depth study of the development status of the insurance market in Guangzhou,the method of combining norms and practice is used to firstly analyze the financial resources of Guangzhou from the macro and micro perspectives.Theoretical analysis of the influencing factors of insurance demand,and then empirical research on the macro and micro factors.The empirical results show that the macroeconomic factors such as economic development level,income level,urbanization level and fixed asset investment have a significant impact on the demand for home property insurance,while inflation and insurance prices have not passed the test.Among the micro-factors,the marketing channel and the level of insurance awareness have a significant impact on the demand for property insurance,while the comprehensive quality,product innovation and propaganda methods of insurance personnel have not passed the test.According to the conclusions of the empirical research,the suggestions for the development of Guangzhou property insurance include: first,increasing the disposable income of residents;second,improving the residents' awareness of insurance;third,exploring new marketing models;and fourth,strengthening government policies' guide.