Research On The Influencing Factors Of The Development Of China’s Internet Insurance Industry From A Spatial Perspective

In the context of the Internet era,Internet insurance has developed into an indispensable part of the insurance industry.The rapid integration between the Internet and the financial industry has made Internet insurance a huge outlet,and its development is constantly having an impact on China’s insurance industry and insurance supervision.With the introduction of the regulatory measures for Internet insurance business in 2021,the development of Internet insurance has begun to get on track.In order to better seize this business opportunity and make Internet insurance serve the people’s livelihood at a higher level,it is imperative to analyze the influencing factors of the development of Internet insurance in China.Firstly,this paper analyzes the development status of China’s insurance industry and Internet insurance,and finds that China’s Internet insurance has a good development momentum and there is a large room for progress.However,the development level of Internet insurance in various regions of China is not balanced.In view of the above situation,indicators are selected from the four levels of economy,population,industry and Internet technology for grey correlation analysis,so as to establish the index system of influencing factors of Internet insurance development.Taking 31 provinces in China as the research object,the spatial weight matrix is established based on the data of Peking University Digital inclusive financial insurance index,and the Moran index test is carried out to judge the spatial autocorrelation and spatial aggregation of the development of Internet insurance in China.Based on the established index system,the spatial panel model is established to deeply understand the influencing factors of the development of Internet insurance in China from a spatial perspective.The results show that there is a spatial aggregation effect in the development of Internet insurance,which is better in the eastern region,while the development of Internet insurance in the western region is poor.Its spatial dependence makes the development of Internet insurance in its adjacent areas interact with each other.The economic growth of the region will have a negative impact on the development of Internet insurance in the surrounding areas,expanding the spatial difference in the development of Internet insurance.The improvement of total dependency ratio,education level and mobile phone penetration will promote the positive development of Internet insurance in surrounding areas.Based on the above conclusions,in order to better promote the development of Internet insurance in China,the following suggestions are put forward.Firstly,we should strengthen the top-level design,give full play to the government functions,and support China’s Internet insurance from the policy aspect.Secondly,we should strengthen industry exchanges,promote the economic and technological construction in the western region,and strengthen industry publicity,so as to enhance insurance awareness and narrow the environmental gap in China’s Internet insurance market.At the same time,we should also pay attention to talent introduction,strengthen talent training,and promote the personalized development of Internet insurance based on demand.