| Since the resumption of domestic insurance business in China in1979, insurance industry in ethnic minority areas have been developed rapidly. Premium of Ningxia Hui Autonomous Region increased from of 391.7674 million yuan in 1998 to 5,274,662,500 yuan in 2010, an increase of nearly 13.5 times, and we notice that. The insurance density of Xinjiang Uyghur autonomous region increased from 116.17 yuan in 1998 to 725.90 yuan in 2009, which has been exceeded the national average level, even higher than the same level of Guangdong province in the corresponding period. Life insurance launched in the market of Tibet autonomous region in 2003, which change the market situation and insurance industry contributed to the development of this area. The growth rate of insurance industry in Inner Mongolia autonomous region in recent years has been come out in top. In 2009, the growth rate reached 17.49%,5 percentage points higher than the national average level (12.15%), when premium rate increased slowly over the nation. The development of the insurance industry of Guangxi Zhuang autonomous region is obvious.In recent years, the growth rate of premium has remained at a double-digit level; for example, the premium of 2008 is 133.48 billion yuan, gaining a 33.5% growth compared with 2007. Although the development of the insurance industry in minority areas has been flourished in recent years, but we can’t ignore the problems emerging from the process of development. These problems are as follow, First of all, minority areas own a lower economic development level compared with economic developed regions, which even lower than national average level. Second, because the scale of the insurance industry is small and the growth of insurance is unstable, insurance industry is vulnerable to external interference. Third, insurance depth in the minority areas is below the national average and at the same time insurance depth much lower than the eastern areas although minority areas enjoy a higher insurance density due to rare population. Fourth, the problem that the internal structure of insurance industry is not rational exists in both life insurance and property insurance. In addition, we cannot ignore the situation that insurance company branches in the minority regions are not enough. n this situation, it is necessary for us to study what factors that hinder the development of the insurance business in minority regions, according to results of which we can put forward some feasibility suggestions to promote the development of insurance industry in these regions.The first chapter is an introduction section which introduces the research background and significance of the study and analyzes the ideas and content of the article, at the end of part; we study the same research at home and abroad and analyze the ideas of other scholars and their results, laying the groundwork for the subsequent parts of this article. The second chapter is a qualitative analysis part in this article. Firstly this paper analyses previous studies on the insurance market factors, coming to a conclusion that most scholars believed that economic factors, social factors, cultural and legal policy environment affect the needs and development of insurance. In order to investigate whether ethnic and religious factors also affect the insurance industry, this chapter introduce in details the faith and customs in theses minority region with ethics derived from culture. Then, the article analyses the association of religious development and the insurance industry from the perspective of supply and demand theory, the "herding" theory, and the basic theory of economic anthropology respectively.This paper analyses the factors that affect the development of insurance in minority areas by the means of empirical analysis from the perspective of life insurance and property insurance respectively in chapter 3 and chapter 4. We select macro-year data of these five minority autonomous regions in China in 1998-2009 as the sample space when insurance density are chosen as a variable that need to be interpreted with the depth of insurance, per capita GDP, per capita investment in fixed assets, disposable income, per capita savings balance, mortality, dependency ratio, ethnic minorities ratio as explanatory variables and we use the time series model and panel data analysis model to show the factors that impact the development of insurance industry in these minority areas. The out coming results show firstly that the density and depth of insurance keep the pace with the development of insurance.Secondly, the income factor is the main driving power of insurance industry. Thirdly, the mortality rate and the dependency ratio have little influence on the development of insurance fourthly, the significance of the analysis is that customs and religious beliefs of these minorities effectively restrain the need of insurance and hinder the development of insurance industry.Although there are some problems in insurance industry in the minority areas, but its prospects are bright. Therefore we should try our best to promote the development of insurance in minority areas, follows are some suggestions according this paper. First, we should strengthen the economic development because insurance spur with economy. Second, we could advertise broadly in order to enhance the awareness of insurance products and to eliminate the concerns of local people. Third, we could practice policy insurance and compulsory insurance in some specific areas with the propose enlarging the scope of insurance and tying to let the local people familiar with insurance. Fourth, we should train employees with professional to serve better. Fifth, we also should carry innovative work of insurance products and services to satisfy the diversity needs off minority residents’. Sixth, property insurance develops rapidly, of which impact we can make use to expansion the development of other kind of insurance. The last one is that we should distribute more health resources into these minority regions. |
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