Research On The Impact Of Population Mobility On Residents’ Demand For Commercial Life Insurance

With the deepening of China’s urbanization process,the population mobility that started in the 1980 s will continue in the coming decades.The large scale of population mobility is an important power source to promote industrialization,urbanization and modernization,but it also significantly increases the social risks in the inflow areas,which is manifested as: impact on the original social order,worsen the residents’ living environment,aggravate the tension of public resources,intensify the competition for employment,and intensify civil conflicts.In addition,the floating population,the main actor of population mobility,has not received effective social protection in the face of a sharp increase in health risks and accident risks.In October 2021,China Banking and Insurance Regulatory Commission Official Release Guidance on further enriching the supply of life insurance products,which has clarified the development direction of China’s life insurance industry in the new era to promote supply-side reform and strengthen the supply of high-quality products.As an effective supplement to China’s social insurance system,commercial life insurance can play a positive role in strengthening residents’ security and stabilizing the public sentiment in areas where social security is vacant.Therefore,this thesis carries out a study on the demand for residential commercial life insurance by population mobility aiming to clarify the relationship between the two,and from the perspective of commercial life insurance,to provide ideas and policy suggestions for effectively improving the protection of residential risk,alleviating the risk of population migration and promoting the further development of commercial life insurance industry.Based on the risk perception theory in cognitive psychology,this thesis introduces risk perception into the path of population flow affecting residents’ commercial life insurance needs.Then,this thesis makes it clear that population mobility increases the demand for commercial life insurance by enhancing residents’ risk perception based on the availability revelation method and prospect theory in behavioral economics.Meanwhile,this thesis discusses the impact of population flow on health insurance and life insurance by different types of insurance.According to the above,the theoretical framework of this thesis is established.This thesis analyzes the current situation of China’s population mobility and commercial life insurance,and analyzes the current situation of China’s population mobility from the perspective of the process of China’s population flow policy and the characteristics of the present stage.From the overall size and life insurance demand and so on,this thesis analyzes the development status of China’s commercial life insurance,and further summarizes the development status of China’s universal insurance.This article establishes Probit model and Tobit model based on CHFS2017 database,which is to explore the impact of population mobility on residents’ demand for commercial life insurance,and further analyze the impact of population flow promotion on different types of insurance for different groups,as well as the impact of population mobility in different directions on commercial life insurance demand.The conclusions of this thesis are as follows: population mobility has a significant positive effect on the probability and degree of residents’ participation in commercial life insurance in China.There is heterogeneity in the impact of population mobility.For people with different hukou,education,income and age,population mobility has different impacts on the probability and degree of participation in commercial personal insurance.Population mobility also promoted the participation probability and degree of residents in commercial health insurance,but only increased the participation degree of commercial life insurance,and did not significantly improve the participation probability of residents in this insurance.Inter-city mobility did not significantly affect residents’ demand for commercial life insurance,while intra-city mobility promoted residents’ participation in commercial life insurance.Based on the above research and empirical conclusions,this thesis puts forward the following policy recommendations:(1)Establish a mechanism for risk communication;(2)Improve the service capacity and quality of the floating population;(3)adhere to the development direction of universal inclusive insurance.