Study On Insurance Company Core Competence

Since the opening of the insurance market, lot's foreign insurance companies have come into China. National insurance companies have to face more severely competition than before. In order to survive the competition, insurance companies need to pay much attention to the following issues:1. What's the core competence in insurance company?2. How could the insurance companies cultivate the core competence and enforce the competition ability?There are five sections in my thesis. The first two sections explain the theoretic origin of core competence and hypothesis of the thesis. The third and the fourth sections set a model to evaluate the core competence and contrast it between two companies.In the first chapter, I point out characters of core competence and introduce the history of studies on core competence.In the second chapter, I use Michael porter's Value Chain Model to give out what core competence is in insurance companies and point out some puzzling areas that we often misunderstand as core competence. The underlying core competence factors of insurance are :consulting and service,efficiency of claims,quality of products,management ability on capital,risk control and etc. In the next step I summarize them to get seven dimensions which will be used in the model.In the third chapter, I put forward three ways to assess the core competence. After analyzing advantages and disadvantages of these methods, I decide to use the Fuzzy Comprehension Evaluation Method which is the most suitable way for insurance companies in my dissertation.In the fourth Chapter, core competences of two insurance companies are contrasted. I put all the data in the model and get the ultimate conclusion. Each company has three dimensions to describe core competence. These different numbers that represent different aspect will help insurance companies to aim in the long run.Chapter five is some suggestions on cultivating core competence in insurance companies.Ultimately, I must mention that some subjective weights that are brought forward by experts will greatly affect the conclusions and that is the limitation of my model.