Abstract
As the foundation of the national economy, agriculture is a high-risk, weak industry. Affected by many factors, agricultural production is subject to catastrophe risks from time to time. Agricultural production is mainly faced with two major threats, natural disaster risk and market risk. As an effective risk management tool, the production and promotion of agricultural insurance have played an essential role in guaranteeing the development of the agricultural industry in some developed countries and major agricultural countries in the world. This article combines the Internet of Things and Markov model for agricultural insurance risk management. First, we combine the structure of the Internet of Things and select relevant statistical data. Then, we build a panel data system, starting from two perspectives in different regions and analyze agricultural insurance’s current development and characteristics at each stage. In addition, we use the Markov model to build a panel data model to explore the specific impact mechanisms deeply. We also study the effects of disaster risk levels in different regions on the development of agricultural insurance. After simulation verification, we believe that this model can effectively promote the balanced regional development of agricultural insurance.
Highlights
Policy-based agricultural insurance can protect the essential lives of poor people and prevent people from returning to poverty due to accidental disasters. is is the primary function of the insurance poverty alleviation system [1, 2]
As an effective risk management tool, the production and promotion of agricultural insurance have played an essential role in guaranteeing the development of the agricultural industry in some developed countries and major agricultural countries in the world. is article combines the Internet of ings and Markov model for agricultural insurance risk management
The main body of agricultural risk management has been at a low level
Summary
Policy-based agricultural insurance can protect the essential lives of poor people and prevent people from returning to poverty due to accidental disasters. is is the primary function of the insurance poverty alleviation system [1, 2]. Some scholars in Canada have discussed the role of agricultural insurance in protecting farmers’ income [3,4,5]. Most of these studies focus on the research of state intervention theory and macrocontrol theory, emphasizing the use of economic, administrative, and legal means such as government fiscal policies and financial policies [4]. As an effective risk management tool, the production and promotion of agricultural insurance have played an essential role in guaranteeing the development of the agricultural industry in some developed countries and major agricultural countries in the world.
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