Network Usage、Social Interaction And Participation In Family Commercial Insurance ——Empirical Research Based On CHFS

With the rapid development of China’s economy,the family,as the key unit of economy and society,plays an increasingly important role in the development of social economy.Commercial insurance has the function of risk protection.As a supplement to the social security system,it plays a positive role in maintaining social stability.As the second largest insurance market in the world,China’s insurance industry is growing in size,but its insurance density and depth are still lower than those of developed countries.Limited family participation is an important reason that hinders the development of China’s commercial insurance market.Asymmetric information and lack of financial information make it difficult for families to participate in the insurance market,and it is impossible to provide necessary protection for families through rational allocation of insurance.In the past,Chinese families mainly relied on the traditional offline social interaction to obtain financial information,but the unitary way of information transmission was limited by the unbalanced development of regional economy,which led to the backward areas falling into the dilemma of information blocking and lagging behind.The wave of the Internet has reversed this situation,and massive financial information is spread efficiently in society with the network as the carrier.Comprehensive and timely financial information is readily available to Chinese families.Under the new media age,the new information media influences the decision-making of family commercial insurance participation.In the traditional information transmission mechanism,social interaction influences family financial decisions by transmitting financial information.As the main medium of information dissemination at present,the role of financial information in the path that affects household commercial insurance participation needs to be explored.In addition,whether the strengthening of network use affects the role of social interaction on household commercial insurance participation is also worth studying.Exploring the influence and mechanism of the new media of information transmission can help solve the problem of limited participation in the family financial market and promote the sustainable and healthy development of the commercial insurance market.Based on the perspective of information transmission,this paper designs three levels of empirical research: First,it studies the influence of network use on family participation in commercial insurance,and analyzes the probability and degree of family participation in insurance market by using Probit and Tobit models.The second is to study the influence of social interaction on the probability and degree of family participation in the commercial insurance market.The third is to explore the influence of Internet use and social interaction on family commercial insurance participation,and finally to test the robustness of the empirical research.The study found that the use of the Internet has a positive effect on the probability of households buying commercial insurance and the degree of participation.From the perspective of information transmission,the network enhances the frequency of information exchange through fast and convenient information transmission methods,and through the widespread dissemination of financial information,reduces the cost of family commercial insurance participation and eliminates the information asymmetry in the market.At the same time,new media platforms derived from the network have high interactivity and information dissemination efficiency,which can significantly improve the efficiency and quality of social interaction,and strengthen the role of social interaction in promoting family commercial insurance participation.Finally,on the basis of theoretical research and empirical analysis,corresponding suggestions are put forward from the three levels of government,insurance company and family.