An effective governance system to end poverty is an important issue of common concern for countries and international organizations. 22 provinces in central and western China are taken as the object of empirical study, which cover more than 90% of poor areas in China, an evaluation system of financial inclusion in central and western China is constructed, including five dimensions of penetration, accessibility, use utility, affordability and rural financial development. Based on panel data from 2010-2017 in the central and western regions, a comprehensive measure of inclusive financial development is conducted, as well as a general panel regression model and a panel threshold model are further constructed to empirically test the impact of agricultural insurance on rural poverty alleviation under the inclusive financial system. The results show that both inclusive finance and agricultural insurance are beneficial to rural poverty alleviation in central and western regions of China during the analysis period. Specifically, based on the level of rural economic development, there is a double threshold effect of agricultural insurance development on rural poverty. In addition, the level of urbanization, rural social assistance, and rural medical care all have positive effects on rural poverty alleviation.