Study On Regional Differences Of Insurance Industry Development In Shandong Province

In the past two decades,Shandong Insurance Regulatory Bureau has not only prevented the risks of the insurance industry and ensured the orderly and smooth operation of the insurance market,but also continuously optimized the insurance business and structure in the direction of insurance for the benefit of the people,and strived to improve the insurance service capacity.Under the leadership of Shandong Insurance Regulatory Bureau,the insurance scale of Shandong Province has been continuously expanded,the order and unhealthy competition of the insurance market have been continuously optimized,and the organizational system of the insurance market in Shandong Province has been further improved.As a coastal and economic province in China,Shandong Province has made good achievements in the insurance market.However,when we see the excellent achievements of insurance development in Shandong Province,we should also note that there are still regional differences in the insurance market in Shandong Province,mainly due to the differences in natural,economic and social conditions.If the regional difference of insurance in Shandong Province is too large,it may cause tremendous influence and loss to the regional insurance in Shandong Province and the economy of Shandong Province.Based on the regional insurance theory and financial insurance theory,and referring to the experience of others,this paper takes the insurance market of 16 cities in Shandong Province as the research object,and then makes a comprehensive and thorough analysis of the regional differences of insurance in Shandong Province.Firstly,this paper analyses the regional differences of insurance in Shandong Province from three aspects: the difference of insurance market share,the difference of insurance scale and the difference of insurance structure.Then,the characteristics of regional differences in insurance in Shandong Province are sorted out and analyzed,including insurance market factors,economic factors,financial factors,social factors and other factors.Then,the characteristic factors mentioned above are sorted out and extracted as ten factors in factor analysis,and the insurance market in Shandong Province is divided into echelons by cluster analysis.Factor analysis shows that Qingdao,Jinan,Yantai,Weifang and Zibo are in the top five,while Dezhou,Heze,Zaozhuang,Rizhao and Liaocheng are in the bottom five.Cluster analysis divides Shandong insurance market into four echelons.Among the four echelons,there are similarities within each echelon,while there are significant differences among different echelons.Finally,on the basis of the analysis of Shandong Province's current situation and empirical analysis,the paper puts forward targeted policy recommendations from the regional perspective and the overall perspective,with a view to providing reference for policy makers.