Research On Insurance Pricing Of Tea Meteorological Index In Hubei Province Based On Risk Zoning

In order to seek high-quality development of the agricultural economy,how agricultural insurance serves rural revitalization has become a cutting-edge topic in the modern insurance industry.China’s agricultural production activities "depend on the weather",statistics show that meteorological disasters caused about 80% of the country’s agricultural production losses.Based on this background,agrometeorological index insurance has entered the public vision and been used in disaster prevention and mitigation of agricultural production.It indexates meteorological factors(such as rainfall,temperature,sunshine,etc.)and agrees trigger conditions.Based on the objective data of meteorological stations,claims will be automatically triggered when the meteorological index reaches the threshold value and corresponding compensation will be given to the insured.At present our country meteorological index insurance has been piloted in many places,involving more local characteristic crops.Hubei Province is a major tea producing province,and tea trade plays an important role in the economic development.The pilot project provides insurance guarantee for the sustainable and stable development of tea industry in Hubei Province.However,the current pilot project in Hubei only involves three regions,and the promotion and development efficiency is not good,and the pilot project is still in its infancy.After comprehensively analyzing the influencing factors of meteorological index insurance pricing and the development status of tea production and meteorological index insurance in Hubei,it’s of practical significance to take the most critical issues of risk zoning and pure rate determination in the process of further promotion of tea meteorological index insurance in the whole province as the research target to a certain extent.In terms of research methods,after analyzing various risks faced by tea planting in Hubei Province,the leading index method was selected,and four production indexes and four meteorological indexes were selected to carry out risk regionalization.The production indexes mainly included the fluctuation of tea yield per unit area,planting scale and efficiency,etc.The meteorological indicators mainly involve the influence of three meteorological factors,namely temperature,rainfall and sunshine,during the tea growing period,and 13 major tea producing states are divided into four risk areas by K-Means clustering analysis.Then,on the basis of the completion of the normal distribution test of tea(fitting)per unit yield sequence in each state,the distribution model estimation and parameter calculation were carried out.Under the condition of the normal distribution model,the expected loss rate was taken as the pure premium rate.Furthermore,according to the results of risk zoning mentioned above,different risk area coefficients were assigned to each state.To optimize and adjust the pure premium rate of tea meteorological index insurance in Hubei province.The research shows that,due to the differences in production and meteorological risk levels,risk regionalization is essential in the promotion of tea meteorological index insurance pilot process.The method of risk regionalization also optimizes the pricing of meteorological index insurance in Hubei Province,and then provides some references for the risk consideration and rate determination in promoting the pilot.Finally,the thesis puts forward research prospects for the subsequent optimization of meteorological index insurance pricing.Choosing the optimal pricing method and claim settlement scheme according to local conditions and improving the precision of risk zoning will increase the scientificity and rationality of insurance rate determination,effectively play the insurance guarantee function,and help rural revitalization.