With the continuous development of China’s economy,the per capita disposable income of residents has been significantly increased,and the growth of income has promoted the demand for commercial life insurance products.In 2020,the total premium income of commercial life insurance in China was 3.3 trillion,an increase of 7.5% year-on-year.But on the whole,compared with the insurance density,the insurance depth in China is still insufficient in developed countries,and the proportion of people participating in commercial insurance is still not high.The factors affecting the demand of commercial insurance have always been a classic academic direction in the insurance academic circle.Most scholars in the past focused on analyzing the demand of economic factors for commercial insurance,but there is relatively little research on the demand of social communication and social relations for insurance,especially in China’s "human society",the insurance demand brought by information exchange generated by social interaction can not be underestimated,and people are likely to exchange,discuss Obtain the cognition of insurance products and generate the idea of purchase.The research on this proposition can promote the understanding of social interaction and the relevance of insurance purchase.On the one hand,under the background of the return of insurance to the source of security,it is conducive to the regulatory authorities to reasonably guide the people’s understanding of insurance products,accelerate the reform of China’s Insurance Industry and promote the benign operation of the insurance industry;On the other hand,it also provides some ideas for insurance companies to adopt efficient and low-cost marketing products.This paper mainly uses the method of empirical analysis to study the impact of social interaction on commercial life insurance participation.Firstly,for the core explanatory variable social interaction,factor analysis is used to extract the score into regression,and then logit model is used to statistically analyze the relevant variables.Instrumental variable method is used to avoid the endogenous problem,and the heterogeneity of the results is analyzed,and then the replacement model is used Finally,the intermediary effect model is used to study the influence mechanism of endogenous interaction in social interaction.The main conclusions of this paper are as follows:Both online and offline entertainment and social interaction have significantly promoted the demand for commercial life insurance;Commercial medical insurance has higher sensitivity to online network interaction,while endowment insurance has higher sensitivity to offline social and entertainment interaction,and financial investment as an intermediary variable verifies that the information acquisition path in endogenous interaction is effective.For individual and family characteristic factors,it can be found that gender has a significant impact on insurance demand,and women have a stronger possibility of insurance participation than men;The level of education has a significant impact on insurance participation,and the people with higher level of education are more likely to participate in insurance;Health degree has an impact on life insurance participation,and has a significant impact on endowment insurance,but not on medical insurance;The insurance demand of people under the age of 45 increases with the increase of age,and the insurance demand of people over the age of 45 decreases with the increase of age;Income has a significant impact on insurance demand.People with higher income are more likely to buy insurance;Urban and rural factors have a significant impact on the demand for endowment insurance,but not on medical insurance;The number of children has no significant impact on insurance demand.Finally,according to the above research conclusions,this paper puts forward some policy suggestions in order to promote the further healthy development of China’s life insurance industry. |