Regional Development Difference,Convergence Trend And Governance Path Of Property Insurance In China

As one of the important industries in modern economic system,insurance industry is an important guarantee and symbol of economic development,public governance and social civilization,and plays an important role in economic development.Insurance is divided into life insurance and property insurance.Among them,property insurance is more closely related to economy.Property insurance develops rapidly in China,but there is a big gap between different regions and urban agglomerations,which will affect the economic development and social stability of each region and urban agglomerations.Therefore,it is necessary to study the regional development differences and convergence trend of property insurance.In this paper,284 cities at prefectural level and above in China are divided into four major regions and eight urban agglomerations.The data of property insurance premium income and GDP of these cities for consecutive 15 years from 2005 to 2019 are collected and collated to construct Dagum Gini coefficient and conditional β convergence measurement measurement measurement model.The regional development difference and convergence trend of property insurance in China are deeply analyzed.According to the econometric analysis,the development level of property insurance in China is still at a high level,and the overall difference shows a narrowing trend,but the difference of enterprise property insurance and accident insurance shows a widening trend.The main reason for the difference in the development level of property insurance in China is the imbalance in the development level of property insurance between regions.Although the contribution degree of regional differences is low,the regional differences in less developed areas and urban agglomerations are gradually expanding.Although the development level of property insurance differs greatly,all insurance types and urban agglomerations show a significant trend of conditional βconvergence,that is,over time,the development-level differences will stabilize in their own stable state,and the overall convergence rate is negatively correlated with the level of economic development.The same social and economic conditions have different effects on the balanced development of different urban agglomerations and different insurance types.To promote the balanced development of property insurance between regions,the developed areas should complete the transformation from quantity to quality,and the underdeveloped areas should strengthen the support of policies and funds.To narrow the gap in the development level of property insurance within the region,the cities within the region should have different and reasonable positioning,carry out division of labor and cooperation,and actively play the spillover benefits of core cities such as provincial capitals to the surrounding areas;Give play to the leading role of the government’s strategic layout,strengthen the top-level design,explore a reasonable path,and achieve a relatively stable equilibrium state of the development level difference of property insurance;At the same time,relevant suggestions are put forward for the development of specific property insurance market segments.