Abstract: Based on the concept of innovation and development, in accordance with the theory of institutional innovation to promote the rural revitalization strategy of agricultural insurance services as the main logic, this paper systematically reviews the domestic and foreign literature. Based on the theories of insurance, finance and risk management, this paper points out the necessity of these theories for agricultural insurance services and rural revitalization strategies, and then analyzes the theoretical basis of agricultural insurance system innovation. Focusing on the three dimensions of management system innovation, financial system innovation and risk management mechanism innovation, the paper summarizes the specific content of how agricultural insurance serves the rural revitalization strategy and realizes institutional innovation. Finally, the research prospects of the future development of agricultural insurance are put forward.