Factors Development Of Shandong Travel Insurance Product Development And Consumption

In recent years, Shandong tourism kept developing rapidly and healthy. In2012,the total revenue of Shandong tourism increased21.0%than2011, in2013, itincreased14.75%than2012and exceed500billion yuan, Shandong tourism rankedthe third place across China. At the same time, the insurance industry in Shandongrealized the continuous fast and healthy development, the total amount of insurancereached to112.8billion yuan in2012after it ranked the top three in China with morethan100billion yuan in2011. In the first11months of2013, the total amount ofinsurance in Shandong province (Qingdao is not included) achieved102.63billionyuan, which increased14.6%than a year earlier. Continous development ofShandong tourism and insurance industry plays an important role in Shandongeconomic and social development.However, compared with the overall development of tourism and the insuranceindustry in Shandong, the actual development of Shandong travel insurance market isobviously lagging behind. Take the most popular accident insurance products forexample, in2012, the total amount of this insurance was only2.23billion yuan inShandong province (Qingdao is not included), it just reached to2.52billion yuan in2013. The total amount of accident insurance took up only0.49%of total tourismrevenues in2012and dropped slightly in2013, which was only0.48%; The totalamount of accident insurance took up only1.98%of total insurance revenue, whichclearly doesn’t match the rapid development in tourism and insurance industry.The author has been working in insurance industry for years and keeps closeeyes on Shandong travel insurance market development. This paper starts from thepresent development status of Shandong travel insurance products and takesShandong travel insurance products as the research object, based on the research onthe successful experience of overseas travel insurance product development, it focuseson the potential customers of Shandong travel insurance market and obtained relatedresearch data by questionnaire, on the basis of statistical analysis and application ofLogistic model, it studies the consumption influencing factors and influence intense of those related factors of Shandong travel insurance product market. It gives somesuggestions on market development of Shandong travel insurance product.This paper studies and elaborates with seven parts:Part One: Introduction. It illustrates the research background and significance,research status both at home and abroad and review, research methods and contents,etc.Part Two: Related concepts and theoretical basis. This part mainly includesconcepts of risk and cognition, travel risk and functions,characteristics andclassification of travel insurance products. Theoretical basis includes insurancedemand theory, consumer behavior theory and demand analysis on travel insuranceproducts.Part Three: The successful experience of overseas travel insurance productdevelopment. Based on the research of overseas travel insurance products, it mainlyshares experience from three aspects, like the mandatory product consumption,consumption target and humanized innovation.Part Four: Analysis on present situation of Shandong travel insurance product.It mainly analyzes on the general description of Shandong travel insurance productsand the existing problems.Part Five: Analysis of influencing factors for Shandong travel insuranceproduct consumption. It studies and elabrates from the basic factor analysis,descriptive statistical analysis and empirical analysis respectively. This part is the coreof this paper, based on the market survey from the reprentative of people living in thecity in Shandong province, it uses Logistic model and discusses the many factorsinfluencing Shandong travel insurance product consumption and its influence intense.Part Six: Suggestions on Shandong travel insurance product development.Based on a lot research analysis on reference, with the method of combiningtheoretical and empirical research, based on the research results on Shandong travelinsurance individual comsumer and present status of Shandong travel insuranceproduct development, it gains sucessful experience from overseas travel insuranceproduct development and gives three suggestions: First, enhancing the guidance to tourism consumers; Second, intensing meeting the demand of travel insuranceconsumers;Third, strengthening the improvement of general travel insurance productcomsumption environment.Part Seven: Conclusions and expections. This paper reaches to a conclusion bysummarizing and analyzing research results, and have expectation on further researchabout inner mechnism that influences travel insurance development.