Research On The Influence Of Insurtech On The Efficiency Of Insurance Enterprises

Insurance industry is an important part of modern marketlized economy and an important pillar of modern service industry.With the development of insurtech in the global financial insurance,insurtech has not only broken the solidified pattern of traditional insurance,but also brought a new stage of the development of the financial insurance industry.It is of great theoretical and practical significance to the development and innovation of the insurance industry,throughout the development process of insurtech and its profound impact on the efficiency of insurance enterprises and even the entire insurance industry,whether it is the early network,informatization,or the current digitization and intelligentization.Based on the influence of insurtech on the efficiency of insurance enterprises,the paper analyzes the role and significance of insurtech in promoting and transforming the traditional insurance industry.From the perspective of technical and economic analysis,this paper explores and analyzes the influence of insurtech on the innovation efficiency of insurance enterprises through factors and mechanisms based on the theory of industrial integration and the construction of modern society.First of all,this paper starts from the background and significance,and introduces the research object and the method adopted.Secondly,it comprehensively sorts out and summarizes the theoretical and literature basis at home and abroad,and makes a comparative study on the experience at home and abroad respectively,and analyzes the relationship between the efficiency of insurance enterprises and insurtech.Thirdly,based on the systematic study of theoretical knowledge of insurance science and technology and relevant calculation models,a new index system for the evaluation of insurance science and technology is set up based on the current level of insurance science and technology,with emphasis on the influence of the application degree of insurance science and technology and regional science and technology investment.Then,this paper selects the relevant data of the insurance enterprises above state designated scale in 31 provinces from 2009 to 2018,and conducted the demonstration by combining qualitative research with quantitative research.At the macro level,this paper studies the influence of insurtech on the efficiency of insurance enterprises through the Cobb-Douglas Production Function,so as to establish the feasibility for subsequent empirical studies.At the middle level,this paper uses the Data Envelopment Analysis(DEA)method to measure the effect of various regional insurance technologies on the technical efficiency,pure technical efficiency and scale efficiency of insurance enterprises.Micro level,this paper uses Tobit model,increased the marketization level,foreign investment level two external indicators and secondary indicators to systemic demonstration insurtech influencing factors of the efficiency of insurance companies,and based on this econometric regression,analyzed and discussed the factors of technical efficiency,pure technical efficiency and scale efficiency of regression results and effects.The results show that insurtech has a positive effect on the efficiency of insurance enterprises.In other words,for the technical efficiency,insurtech has a positive influence on the technical efficiency of insurance enterprises' innovation,and different factors play different roles.At the same time,insurance technology has a positive effect on the pure technical efficiency and scale efficiency of insurance enterprise innovation.To summarize,this paper demonstrates the influence of insurtech on the efficiency of insurance enterprises by means of theoretical analysis and empirical analysis.Based on this,three progressive research methods are adopted to empirically study the relationship between insurtech and efficiency of insurance enterprises above a certain scale,and elaborate that insurance industry cannot be separated from the drive of insurtech.Finally,based on the above theoretical and empirical research,put forward the corresponding feasible policy recommendations.