A Study On The Regional Differences Of China's Insurance Industry Development

Under the current situation of maintaining the slow and steady development of the overall economic situation,with the positive stimulation of relevant policies of"one area and one road" initiative.This paper mainly studies the regional differences in the development of the insurance industry and the factors that lead to such differences,and comparative analysis of the characteristics and characteristics of the development of the insurance industry in various regions.Based on the empirical results of previous literatures,this paper selects five indicators which have an important impact on the development of insurance industry,namely,per capita income level,education level,industrial structure,population age structure and social welfare level,and uses the provincial data of the whole country,eastern,central and western regions from 2011 to 2015 to represent the development level of insurance industry.The insurance density is the explanatory variable,and the panel model is established to compare and analyze the impact of various factors on the development of insurance industry in the eastern,central and Western regions.The empirical results show that there are huge regional differences in the development of China's insurance industry in the eastern,central and Western regions.The difference between the central and eastern regions is due to the gap in industrial structure,while the western regions lag behind in population age structure and education level.The level of social welfare has a significant role in promoting the development of the insurance industry in various regions;the income level is the most direct impetus to promote the development of the insurance industry,especially in the eastern region;the industrial structure plays the greatest role in promoting the development of the insurance industry in the central region;the education level mainly affects the personal insurance,and it has an impact on the western region.The region has the greatest impact;the ratio of population support representing the population structure has a negative impact on the development of the insurance industry,and the negative impact on property insurance is greater than life insurance.