Research On The Influencing Factors Of The Purchase Intention Of Commercial Endowment Insurance Of New Citizens In The Yangtze River Delta Region

With the advancement of urbanization,the number of new citizens in China is increasing,according to statistics,there are currently about 300 million people.Compared with other regions,the Yangtze River Delta region is the largest economic zone in China,with the advantage of "advanced manufacturing and finance",superior location advantages,scientific and technological innovation advantages,etc.These advantages have attracted new citizens from all over the world.As the group with the fastest expansion and the greatest development potential in the process of urbanization,new citizens are not only the backbone of promoting consumption,expanding domestic demand and promoting economic growth,but also a key part of achieving the strategic goal of common prosperity,and they deserve more comprehensive protection.In addition to the needs of life,new citizens also have a wide range of financial service demands,and pension needs,as a key part of it,cannot and should not be ignored.In March 2022,the China Banking and Insurance Regulatory Commission and the People’s Bank of China jointly issued the Notice on Strengthening Financial Services for New Citizens,which clearly stated that the pension needs of new citizens should be guaranteed.Then,how to protect the pension rights and interests of new citizens in the Yangtze River Delta region has become an urgent problem to be solved.Basic endowment insurance is one of the ways of social security,but its degree of protection is still limited,and commercial endowment insurance can play its supplementary role well,how to make the old age life of new citizens have no worries,new citizens commercial endowment insurance commercial endowment insurance purchase willingness is affected by what factors are worth studying and discussing.Based on the above problems,this paper takes new citizens in the Yangtze River Delta region as the main research body to study the influencing factors of their willingness to purchase commercial endowment insurance.Firstly,the research status,ideas and methods of domestic and foreign scholars were sorted out.Secondly,on the basis of scholars’ research,the concepts of new citizens and purchase intention are further clarified,and then combined with life cycle consumption theory,behavior planning theory and Maslow’s demand theory,this paper theoretically analyzes whether new citizens purchase commercial insurance and its influencing factors.Thirdly,combined with the above theory,relevant hypotheses are proposed,and the logistic model is used to empirically analyze the influencing factors.Finally,based on the empirical analysis results,policy opinions are put forward for the development of commercial endowment insurance,so as to promote the willingness of new citizens to purchase commercial endowment insurance.Through research,this paper first finds that the participation of new citizens in commercial endowment insurance in the Yangtze River Delta region is not high.Secondly,this paper obtains the overall conclusion: the influence of the five variables of gender,marital status,household registration type,number of children and social trust is not significant,and the eight variables of age,education level,physical health status,family economic status,number of real estate,pension attitude,subjective happiness and basic pension insurance have significant effects.Finally,this paper concludes heterogeneity: the analysis of urban-rural heterogeneity shows that the significance of variables is higher than that of new citizens with urban account,which also indicates that new citizens with rural account will be potential consumers of insurance companies in the future.The analysis of year heterogeneity shows that the significance of new citizens’ willingness to purchase commercial pension insurance has increased year by year.