An Analysis Of Non-Life Insurance Demand Of Henan Province

Insurance industry, as a kind of risk transfer mechanism, social mutual mechanism and social management mechanism, is very important for the current socialist harmonious society constructing. Meanwhile, as a part of the financial sector, except for financing, service modern economic function, it's still have functions like economic compensation, disaster prevention security and social management function. So, it plays a key role in economic growth.Since the reform and opening, with China's rapid economic growth, the insurance industry won both in scale and benefit in the long-term development. Since 1980, the insurance industry recovery, the insurance industry has made rapid development, the insurance premium income rising from 4.6 billion yuan in 1980 to the 1.45 trillion yuan in 2009, has increased 3152 times. But the insurance is still low in the share of financial industry, while in the insurance industry, the development also not balanced, especially,premium growth mainly rely on life insurance business, the development level of non-life insurance business is not only far lower than the world developed country, also far lower than domestic life insurance business. But it also means large potential and market demand for non-life insurance, with the further growth of economy, insurance industry will face more opportunities and challenges. Because Henan non-life insurance market development situation and problems is similar with China's non-life insurance market, the study of non-life insurance demand to promote the development of Henan non-life insurance market has very positive sense to national non-life insurance market developmentThis paper analyzes the reality situation and problems of the recent non-life insurance market development, compare Henan non-life insurance with eleven provinces (municipalities),including Beijing, Shanghai, Jiangsu, Shandong and so on, found the speed of Henan non-life insurance market development is slow, the fluctuation is large and internal development is not balanced, and the main reason is the small non-life insurance demand caused by the low level of economic development in our province and weaker residents insurance consciousness.On this basis, this paper selects some factors influenced non-life insurance needs like the economic development level, the income level, fixed assets investment and established the multivariate linear model, made some empirical analysis. The results show that:the GDP, fixed assets investment and non-life insurance prophase compensation, resident savings all influence the non-life insurance demand, the former three have positive correlation with it, and the resident savings has negative correlation with it and GDP is the most important factor which imply that our non-life insurance is almost promote by economic growth. According to the above analysis。Finally, this paper give some rationalization proposals from expanding non-life insurance endogenous demand and supply aspects to speed up the Henan non-life insurance market development.