An Empirical Research Of The Impact Of Urbanization To The Demand Of Chinese Property Insurance

Insurance is the important part of modern market economy and financial system,and also the important symbol of social civilization,economic development and social governance.40 years of reform and opening up,China's economy obtained significant achievement.As one of the fastest growing industries in China's economy,the insurance market continues to expand.Property insurance is expanding rapidly as an important component of insurance.At the same time,the process of urbanization has also been greatly promoted.This paper will analyze the relationship between urbanization and property insurance demand,and the influence mechanism of urbanization on property insurance demand from both theoretical and empirical aspects.First,based on the traditional theory of property insurance demand,this paper elaborates on how to promote property insurance demand by increasing the wealth of residents,increasing the risk exposure property,improving the level of risk aversion of residents and increasing the probability of property loss of urbanization.Second,this paper establishes model based on 2005-2017 provincial panel data to analyse the impact of population urbanization and spatial urbanization on property insurance demand.The regression analysis of model shows that there is a significant positive correlation between urbanization and property insurance demand.In the regional comparison model,it is found that there are differences in the development of regional insurance.Urbanization has the most significant promoting effect on property insurance demand in the eastern region.Finally,this paper puts forward suggestions on how to speed up the innovation of property insurance products,change the development mode of property insurance companies,increase the publicity of property insurance and improve the system of property insurance disaster prevention and loss reduction.