Analysis Of The Influencing Factors Of Household Property Insurance Insuring Intention

With the rapid development of China’s market economy and the increase in per capita income of urban and rural residents,property insurance has gradually entered the public eye,and the property insurance industry is thriving.As a pillar of China’s "old three insurance policies" along with auto insurance and business property insurance,household property insurance is now in a difficult position,with premium income of Chinese insurance companies fluctuating around 0.5% of the total premium income of property insurance for decades.As a basic insurance that provides comprehensive protection and wide audience,and protects the safety of every family’s property,it is not popular in the insurance market,and it is urgent to break the current dilemma.Based on the city of Shenyang,this paper analyzes the current situation and problems of the home insurance market in Shenyang by collecting and organizing data and information about home insurance.Compared with motor vehicle insurance,the growth of home insurance business in Shenyang is slow and the premium income is low.Then,the factors affecting the willingness to purchase home insurance in Shenyang are analyzed from macro and micro perspectives through both factor analysis and regression analysis.The regression analysis of macro factors affecting demand shows that GDP,urban disposable income,urbanization rate and market competition have positive effects on home insurance premium income in Shenyang,while CPI and residential investment do not pass the test.The regression analysis of the micro-influencing factors affecting demand shows that gender,age,marital status and education,monthly household income,insurance awareness,overall quality of insurance personnel,sales channels,and insurance services have a positive impact on the willingness to take out home insurance,while the occupation and publicity mode factors are not significant.Based on the results of the empirical study,the article proposes the following countermeasures and suggestions: improve the income level of residents,thus promoting their willingness and ability to purchase home insurance;strengthen policy guidance and provide certain policy support for home insurance;improve relevant laws and regulations;increase the publicity of insurance knowledge to improve people’s insurance awareness;continue to explore new sales channels for home insurance;improve the supporting services for home insurance and enhance the service Management level;strengthen professional education and improve the quality of practitioners.