The Impact Of Social Network On The Demand For Commercial Endowment Insurance Of Urban And Rural Residents

Nowadays,with the development of society,industrialization and urbanization have come along with it,and there are great changes in people’s social values,which makes pensions face new difficulties,and the key issue nowadays is to improve the pension insurance system.In the 14 th Five-Year Plan,it is recommended to improve the diversified pension insurance system.In particular,the importance of commercial old-age insurance needs to be fully brought into full play,so as to share the social pension pressure and get rid of the deepening pension system predicament.The state is also very supportive of commercial pension consolidate our investment and innovation in commercial pension insurance,however,contrary to expectations,residents’ willingness to purchase commercial pension insurance is still low despite the state’s strong support for commercial pension insurance,so the social network brings a role that cannot be ignored in the daily life of the residents,which in turn will also have an impact on the residents’ insurance behavior.Will social networks have an impact on the demand for commercial pension insurance for urban and rural residents?If so,will the impact be positive or negative? Will the impact on urban and rural residents be different? These are the questions that need to be studied in depth.To study the relationship between social networks and residents’ demand for commercial pension insurance and to explore the impact of the former on the latter,as well as to study the relevant policies of commercial pension insurance in China.To fully grasp the influence of social network relationship structure on urban and rural residents’ willingness to purchase commercial pension insurance.This paper uses the China Household Tracking Data Survey（CFPS）2018 as the data source,adds its own views to the existing research literature and combines micro data,and integrates social network analysis methods and econometric analysis methods to explore whether social networks affect residents’ participation rate and depth of participation in commercial pension insurance,and if so,does this effect positively promote or negatively inhibit? Will the impact be different for urban and rural residents? This is a complement to the research theory of residents’ demand for commercial pension insurance,and provides a new perspective on commercial pension insurance participation behavior.The study finds that: relatives’ relationship,government officials’ trust relationship,strangers’ relationship,and human gift expenditure of urban and rural residents will positively affect the participation rate and depth of participation in commercial pension insurance,among which relatives’ relationship,strangers’ trust relationship,and human gift expenditure have a greater promotion effect on urban residents than rural residents,and the positive promotion effect of government officials’ trust relationship is lower than that of rural residents;family relationship will have a negative impact,among which the inhibitory effect of family relationship is lower for urban residents than for rural residents;neighborhood trust relationship will have no effect,and human relationship will promote the demand for commercial pension insurance for urban residents,but will not have an impact on rural residents.In addition to social network proxy variables,other variables are added to investigate the effects on urban and rural residents’ demand for commercial pension insurance.Specifically,being female,having a higher level of education,spending more on medical insurance,receiving a pension,having a larger household size,and having increased household income.Taking the above research findings as the basis,in this paper,we will make full use of the scale leadership effectiveness of people whose position is at the center of the social network to make them effective in transmitting insurance information and passing on insurance literacy,so as to achieve the role of continuously expanding the scale and enhancing the quality of social network,to promote the relationship between the government,insurance companies and residents,to reduce the reliance on the marginal market,to develop the stranger market.