The empirical analysis on demand of property insurance in Hubei Province based on panel data

From the current situation of the property insurance market of Hubei Province, the comparison analysis of the property insurance development statement of six provinces in central part of China is studied in this paper. The influential factors of the demand of property insurance in Hubei province are theoretical analyzed. At the same time, the influential orientation is predicted. Then it takes unit root test and cointegration test based on panel data to establish fixed effect model and quantile regression model for the empirical analysis. The obtained results point out that the increase of GDP, per capita disposable income and insurance claim can promote the development of demand of property insurance of Hubei Province, the population growth is significant negative correlation with the demand of property insurance. Finally, some strategic suggestions to the demand of property insurance of Hubei Province are proposed based on the empirical analysis results.