Research On Influencing Factors Of Passenger Accident Insurance Demand Of College Students

General Secretary Xi Jinping,pointed out in the report of the 19th National Congress of the Communist Party of China that"It is conducive to deepen supply-side structural reforms,improve the quality and efficiency of the supply system,build a moder supply chain and support the construction of a modern economic system to build a strong transportation country and promote the development of high-quality transportation."On the basis of past achievements,promoting the further development of railway and air transportation in China has become the due meaning of the great rejuvenation of the Chinese nation.In the future,China will build into a country with powerful transportation,with further development of railway transportation and air transportation.In order to ensure the safety of passengers and meet the requirements of passengers for the support of risk accidents,passenger accident insurance is an indispensable product.From the perspective of the price of passenger accident insurance,relatively low compared to the fare,but after a small survey in the previous period,it was found that a very high percentage of travelers choose to refuse to buy it.It will be important to increase the purchase rate of passenger accident insurance,enable passenger accident insurance to fully play its due protection role and improve the safety and security of transportation to take college students as an example to explore the reasons behind passengers not buying passenger accident insurance and explore the factors that affect the demand for passenger accident insurance.This article,firstly,introduces the development history of passenger accident insurance in China,insurance type setting and its comparison with the relevant insurance systems in the United States.And described the current situation of China’s passenger accident insurance market.In order to deeply explore the reasons why passenger choose not to purchase passenger accident insurance,this article cuts in from the path of passenger accident insurance purchase decision.Based on the five stages of insurance purchasing by consumers—risk perception,information search,plan evaluation,insurance decision-making and the post-assessment,combined with the special characteristics of passenger accident insurance,exploring the factors that can affect insurance consumers at each decision stage,especially the possible cognitive bias factors.Based on the analysis of these influencing factors,we can provide a theoretical explanation for college students not to buy passenger accident insurance.Secondly,in order to deeply study the performance when college students purchase passenger accident insurance and the factors that have a significant influence on the purchase decision of passenger accident insurance,this paper designed a questionnaire on the factors affecting the demand for passenger accident insurance of college students.The questionnaire collected data through internet.The basic composition of the questionnaire can be divided into four parts:purchase status and reasons,personal characteristics,cognitive bias and insurance cognition and experience.At the same time,demand influencing factors can also be divided into the above four categories.On the basis of sorting,screening and deleting the questionnaire data,descriptive statistics,non-parametric tests and logistic regression analysis were carried out on each relevant demand factor.And finally three factors with significant influence were obtained,namely,availability deviation,insurance communication and payment mode.Finally,based on generalizing and summarizing the above chapter,this article obtained five conclusions:The actual purchase rate is low and the risk awareness is insufficient;the insurance communication frequency is low and the insurance attitude is not positive;the payment mode is not flexible enough and college students are unwilling to undertake;college students have insufficient awareness of insurance,low willingness to understand and major deviations in cognition and they are prone to make mistakes when making decisions.According to the conclusions of the above five aspects and other problems found in the statistical analysis process,corresponding suggestions are given at three levels:railway companies or airline companies,passenger accident insurance underwriting companies and college students.A very small part of the fare is withdrawn to establish a carrier’s liability fund and make business investment for future compensation.When the fund reaches a certain level,it can reverse the subsidy of the premium.At the same time,the railway stations and airports should actively use the waiting time to simply publicize risk and policy provisions;passenger accident insurance insurers should cooperate with the carrier to operate the carrier’s liability fund and promote the payment mode,such as following the changes in the frequencies of passenger trips with additional protection,and should also propagate insurance;colleges students should improve their understanding of their own risks,understand insurance products and recognize the essential role of insurance products.