Research On The Competitiveness Of Insurance Brokers In China

In recent years,the transformation of insurance intermediary industry in China has been deepening.The professionalization of part-time insurance agency,scale development of insurance professional intermediary,professionalism of sales force and normalization of brokerage business has been carried forward step by step.The trend of production and marketing separation has become obvious.Meanwhile,insurance consumers' awareness of insurance products and demand for risk management are also improving.This requires that insurance brokers,as risk management experts,have higher professional technical ability and operating capacity,etc.And this gives insurance brokers a challenge from their own professional competence,management and other aspects.With the rapid development of digital technologies such as the Internet,traditional insurance company has been actively laying out Internet to sale insurance products directly,thus reduces the function of insurance intermediaries.In the context of the extended linkage inspection and the Internet"de-mediation",insurance professional agencies including insurance brokerage firms,face a critical challenge of life and death.How to use the Internet or other digital technology to service for customers more convenient and efficient,seek for their own survival and development space,which becomes a vital problem for insurance intermediary.In addition,as the trend of insurance broker globalization has become more and more obvious,foreign insurance brokers have started to lay out the insurance market in China and seize the market share of China's insurance brokers.Meanwhile,domestic industrial insurance brokers and foreign insurance brokers are stepping up their layout in market segments,so China's insurance brokerage market is becoming increasingly competitive.Making big and strong of China insurance industry also needs the support of the insurance brokers,it needs to give full play to their role,enhance professional technical ability and provide value-added services for insurance consumers.Compared with rapidly changing market conditions and increasingly severe market competition,there are many deficiencies in insurance brokerage firms in China,such as lack of experience,weak overall strength,lack of international vision and a global network of services and so on,which restricts the competitive power and development motivation of insurance brokerage firms in China to a certain extent.In the critical period of transformation of insurance brokerage and insurance industry,facing the Internet disintermediation and the impact of domestic insurance broker industry competition,how to improve competitiveness and realize the sustainable and healthy development,which is a major issue for China's insurance brokerage management.It is necessary to evaluate and analyze comprehensively the competitiveness of Chinese insurance brokers based on such a realistic background.To explore the situation of the competitiveness of insurance brokers through the longitudinal comparison of major insurance brokers in China,to put forward some effective measures to improve the competitiveness of Chinese insurance brokers in China by comparing the competitiveness of Chinese and foreign insurance brokers.Therefore,this paper will try to solve the following problems:first is what about the competitiveness of Chinese insurance brokers?(to evaluate the competitiveness of insurance brokers by constructing the competitive evaluation index system).the second question is where is the gap between Chinese and foreign insurance brokers,and Chinese and foreign insurance brokers?The third question is how to improve the comprehensive competitiveness of Chinese insurance brokers?So this paper is divided into seven parts to expand the research on the competitiveness of Chinese insurance brokers.Part one is the introduction of this paper.Firstly introduces the background,purpose and significance of the competitive research of Chinese insurance brokers,then reviews the theories of enterprise competitiveness and relevant research,the research results about insurance brokers,the competitiveness of insurance brokers and other insurance intermediaries,and points out the writing space of this paper.At last,expounds the research ideas,research contents,research methods,innovation and shortcomings of this paper.Part two is the theoretical station of the competitiveness of insurance brokers.This part firstly defines the competitiveness of insurance brokers and expounds its connotation.Then analyzes the competitiveness of insurance brokers with market structure theory,resource basic theory and enterprise ability theory.Finally,the part introduces the evaluation methods of insurance broker's competitiveness which will be used in this paper in detail.Part three is the study on the influence factors of insurance brokers' competitiveness.This part analyzes the factors affecting the competitiveness of insurance brokers by value chain analysis,literature sorting and fuzzy Delphi method orderly.The value chain analysis mainly analyzes the relationship between relevant activities and competitiveness of insurance brokers' internal value chain and external value chain.The summation of literature data is mainly based on previous research literature on the competitiveness of insurance brokers or intermediaries.Through the expert questionnaire survey,the fuzzy Delphi method makes an empirical analysis on the influencing factors of the preliminary screening,and finally determines the factors that affect the competitiveness of insurance brokers.Part four is the design and analysis of the evaluation index system of insurance brokers' competitiveness.This part firstly makes a statement on the principle of the evaluation index system of insurance brokers' competitiveness.Then,determines the content and ideas of competitive evaluation of insurance brokers based on the analysis of the competitive evaluation index system of insurance intermediary companies in China,and designs competitive evaluation index systems for domestic and foreign insurance brokers in China,which is different from previous research on insurance intermediary competitiveness.Finally,the part expounds the meaning of realistic competitiveness,environmental competitiveness,potential competitiveness and sustainable competitiveness of insurance brokers respectively.Part five is the measure and evaluation of the competitiveness of Chinese insurance brokers.This section is the focus of this paper.According to the size of the market share of insurance brokers,17 insurance brokers were selected as samples of the research on competitiveness of Chinese insurance brokers.The research range and content are the static competitiveness of 2015 and the dynamic competitiveness of 2013-2015.In order to find different types of insurance brokers' competitiveness gap,this paper compares the different background,different business model,different types of capital insurance brokerage firm's competitiveness respectively.In order to understand the development situation of insurance brokers' competitiveness in China,this paper compares the competitiveness of samples from 2013 to 2015 from vertical angle,analyzes the conditions and gap of insurance brokers in China with multi-view.Part six is the international comparison of competitiveness of insurance brokers.According to the global brokerage company's market share ranking,this paper selects the top four global insurance brokers and 17 insurance brokers in China to reconstitute the new sample as a sample of research on competitiveness of Chinese and foreign insurance brokers.The sample range is still selected in 2015.This part analyzes empirically on the sample company data using the same empirical method,classifies and evaluates the reality,environment,potential,lasting and comprehensive competitiveness respectively.Lastly,this part finds out the reasons for the competitiveness gap of Chinese and foreign insurance brokers by comparison.Part seven is the countermeasures to promote the competitiveness of Chinese insurance brokers.After studies and judges the development situation of Chinese insurance brokers,this part puts forward six specific countermeasures to improve the competitiveness of Chinese insurance brokers.These measures are to optimize the development environment of the industry,clarify clear strategic positioning,improve the talent management and incentive mechanism,build a successful business brand,improve service level continuously and strengthen enterprise innovation.Compared with the existing research literature,the innovation of this paper is mainly embodied in three aspects:First,the topic is novel.The existing literature has more research on the competitiveness of industrial and commercial enterprises or Banks and insurance companies,but it pays little attention to the competitiveness of insurance intermediary enterprises.This paper studies the competitiveness of insurance brokers and makes innovations in the research object.Secondly,this paper constructs the Chinese and foreign insurance brokerage firm competitiveness evaluation index system based on the theory of enterprise competitiveness combining the operating characteristic of the insurance broker.The construction of the index system makes the research content have strong practical application.The third is the application method innovation of competitive research.In order to achieve the relative objectivity of evaluation index and index weight,this dissertation introduces fuzzy Delphi method and fuzzy analytic hierarchy process to determine main factors that influence the insurance brokerage firm competitiveness and index weight rejecting traditional Delphi method and analytic hierarchy process.In view of the relatively few official public disclosure data of insurance brokers in China,some qualitative indicators of the past year are difficult to obtain.Therefore,the dissertation only selects the comprehensive competitiveness of nearly three years to carry on the situation analysis when comparing the longitudinal competitiveness and lacks the study of the longer period.At the same time,this paper has not studied the influence mechanism of influencing factors and comprehensive competitiveness due to the lack of qualitative and quantitative data.If we can use time series to study its influence mechanism,it'll further deepen the research conclusions.The research will be made up under the condition that the official public disclosure data is continuously improved.