Abstract: Based on the theory of economic growth and agricultural risk management, this paper insists that agricultural insurance can have a multiplier effect on government poverty alleviation through premium subsidy; meanwhile, increase agricultural output; and then increase farmers' income. By constructing the empirical model and starting from two dimensions of agricultural production technology and risk management technology, this paper probes into the function mechanism of agricultural insurance subsidy to alleviate poverty. The study found that the elasticity of agricultural output to agricultural technology investment is 0.112 767, the elasticity of risk management thcenology investment is 0.107 823. These findings show that agricultural insurance subsidy is used for agricultural output from two angles:Agricultural technology and risk management thcenology, and thus raises the income level of farmers and produces a good amplification effect for the government's poverty alleviation effect. Therefore, in order to give full play to and improve the efficiency of agricultural insurance poverty alleviation, the government needs to further improve the agricultural insurance subsidy system and provide technical support.