Research On The Impact Of Digital Financial Inclusion On The Development Of Agricultural Insurance

In 2021,the No.1 Central Document proposed to "vigorously promote the construction of digital villages.Promote the development of smart agriculture and facilitate the integration of information technology with agricultural machinery and agronomy.Focus on solving practical problems and expanding the application scenarios of agricultural and rural big data.Accelerate the standardization of the digital village.Research and formulate a development evaluation index system,continue the pilot operation of the digital village,and strengthen the construction of rural information infrastructure." Study the impact mechanism of digital comprehensive finance on the development of agricultural insurance,improve the coverage level and depth of digital comprehensive finance,and increase the per capita income of rural households.Disposable income will stimulate farmers’ demand for agricultural insurance coverage and contribute to the high-quality,effective,and stable development of agricultural insurance.With the above background,this paper summarizes the relevant literature and theories on the development of digital comprehensive finance and agricultural insurance using panel data from 24 major Chinese agricultural provinces(cities and districts)from 2011 to 2020.Development-level indicator system of digital inclusive finance by Guo Feng et al.(2020),the first six indicators such as per capita disposable income of rural residents,crop sown area,total power of agricultural machinery,total agricultural output value,crop damaged area,and water affairs cost,and the development of agricultural insurance by digital inclusive finance.A system of indicators was formed that included 53 indicators of the impact of digital inclusive finance on the development of agricultural insurance.As evidence,the direct impact of digital inclusive finance on the development of agricultural insurance is empirically analyzed by stepwise regression analysis,and the indirect impact of increased residents’ income on the development of agricultural insurance is empirically analyzed by a mediation effect model.We also conducted a regional heterogeneity analysis of the impact of digital comprehensive finance on the development of agricultural insurance by dividing the region into western and eastern regions.The results show that digital comprehensive finance has an important role in promoting the development of agricultural insurance in our country and passed the least-squares test.Digital inclusive finance can stimulate the effective demand for agricultural insurance by promoting the per capita disposable income of rural residents in our country.In the development of insurance,the disposable income of rural residents plays an intermediate role in the development of agricultural insurance.Therefore,in order to fully realize the positive impact of digital comprehensive finance on the development of agricultural insurance and the benefits of increasing farmers’ per capita disposable income,this paper will further promote the development of digital comprehensive finance from breadth to depth,improve farmers’ financing capacity,increase farmers’ income,smart agricultural insurance system and use insurance technology to provide comprehensive and integrated information services to farmers;and to promote the effective integration of digital inclusive finance and agricultural insurance by relying on the government and sending professional human resources into the field of agricultural insurance.