| With the rapid development of the economy,the income of residents continues to increase,as well as the risk awareness.More and more families have begun to consciously allocate commercial insurance products to improve the level of family risk protection.However,with the rapid development of the insurance industry,some problems have occurred,the most serious problem will be the unbalanced and insufficient development of insurance industry.Commercial insurance only covers a small number of households in China,and the premium level of commercial insurance varies among households showing great differentiation.Therefore,it is necessary to study the influencing factors of family commercial insurance purchase decision-making,so that we can increase the participation rate and degree of family commercial insurance,enhance the ability of families to resist risks,and promote the development of commercial insurance in China.The purchase decision of family commercial insurance is affected by many factors.Past research mainly focused on personal characteristics and family characteristics,studies that focus on the perspective of emergencies such as accidents and disasters are rare.This article studies the impact and mechanism of catastrophic accidents and disasters on family commercial insurance purchase decisions from the perspective of behavioral psychology.In terms of data selection,the article selects samples from the Chinese household financial survey data.In terms of research content,the article sorts out the existing research firstly,then explains the theoretical basis of the article,analyzes the mechanism of the article,and puts forward the research hypothesis of the article.The article uses the Probit and Tobit models to empirically analyze the impact of catastrophic accidents and disasters on whether families participate in commercial insurance and the degree of participation in family commercial insurance,and subdivides commercial insurance into commercial life insurance,commercial health insurance and other commercial insurance for further analysis.To solve the endogeneity problem that may be caused by sample self-selection,the article uses the PSM method to conduct an endogeneity test.Then the article performs robustness tests by replacing the empirical model and explanatory variables.Also,the article carries out the heterogeneity analysis in two aspects of household registration.Finally,risk preference and risk perception are used as intermediary variables for mechanism analysis.The main conclusions drawn by the article through theoretical analysis and empirical research are as follows: Catastrophic accidents and disasters have significantly increased the participation rate and degree of family commercial insurance.Catastrophic accidents and disasters have significantly increased the family’s participation in commercial life insurance,commercial health insurance,and other commercial insurance.Catastrophic accidents and disasters affect family commercial insurance purchase decisions by enhancing individual risk perception and reducing individual risk preference.The impact of catastrophic accidents and disasters on family commercial insurance purchase decisions is different among families.In the end of the article,Relevant suggestions are made on the marketing and development of insurance products of insurance companies after catastrophic accidents.Relevant suggestions are also made on government’s emergency responses to catastrophic disasters,preprevention and post-compensation of catastrophe risks.The possible innovations of the article are the following ones:First,the article is innovative in the research content: this article explores how catastrophic accidents and disasters affect family commercial insurance purchases,which expands the theoretical research on factors affecting household commercial insurance purchases,the conclusions also contribute to how insurance companies carry out the product marketing after the accident.Second,based on behavioral psychology,this article introduces two factors:risk perception and risk preference,to discuss the impact mechanism of catastrophic accidents and disasters on household commercial insurance purchase decisions.The research provides relevant suggestions for insurance companies on how to carry out business marketing based on the psychological changes of the masses after catastrophic accidents and disasters and give the advice on how the government can take emergency measures to appease the panic of the masses after catastrophic accidents and disasters.Third,the article classifies the samples according to the number of dependents in the family to conduct heterogeneity analysis,which provides relevant suggestions and references for precise marketing of families. |
