Urbanization Impact on Life Insurance Demand in Hunan Province
|Keywords||life insurance demand urbanization panel data model effective demand potential demand|
Urbanization is the engine of growth and accumulation of wealth, which is accompanied by the rise of industrial development. Worldwide experience has shown that:the development of urbanization is the only way from poverty to prosperity in a country. Research has shown that if urbanization rate is between20%and70%urbanization enters an accelerated development stage. By the end of2009, our country’s urbanization rate is46.7%. A Nobel economic prize winner so evaluation China urbanization "China urbanization and American high-tech development is two theme which profound influence the development of mankind in the21st century ". The speech makes China’s urbanization is worldwide attention.Now development of the urbanization in Hunan Province is in the acceleration phase. Population size has been increasing year by year. Per capita income is rising. It created a very good condition and foundation just for the life insurance industry. Standing in the position of life insurance companies, studying urbanization and the impact of the life insurance needs, is conducive to clear understanding of the life insurance market in Hunan Province. And it also has a very important point of reference value for the distribution of life insurance branch.The author firstly defines the concept of urbanization and life insurance needs; and then deals with the influence of urbanization on life insurance development from four dimensions in general framework; then based on the needs of research and the analysis of urbanization index system, the article established an appropriate indicator system of urbanization. Combined with the data of14Cities in Hunan Province, the relationship between urbanization and life insurance needs was done qualitative and quantitative analysis. Using panel data model, the paper analyzed and chose the right panel data model type, and made a regression equation. This thesis focuses on analyzing population and economic effects of urbanization on life insurance needs, than finds general rules. Finally, it made a summary and provided suggestions for life insurance companies.