The Research Of The Insurance Contract Under Asymmetric Information

China has been in the December 11, 2001, formally established the "WTO members, businesses in the near future with all the international standards, the life insurance industry is no exception. As one of the three major pillars of the entire insurance industry in and the financial sector in the national economy as a whole are decisive role in total, and health insurance industry in the insurance industry occupies an important position, but our country's medical insurance industry after nearly 20 years of development also is very immature, and, in every respect, also there is a small gap. China's medical insurance industry because of relatively short development history, but with China's economic growth, the aging of the population, the market the continuous deepening of economic reform, medical insurance market has great potential. this at the same time while the many difficulties: the people's awareness of insurance is rather poor, the impact of inflation, banks, such as the effects of changes in interest rates.China's insurance industry has just started, and the various forms of medical insurance are also continuously exploredInformation asymmetry produced in the last century the 1960s it was used to describe relevant information asymmetry in the distribution of parties to the transaction to the market trading practices and the efficiency of market operations generated by the series of important influence. Non-insurance market in the study asymmetric information provided vivid examples, Akerlof (1980), Rothschild & Stiglitz (1987), wilson (1987), spence (1985), have been in the insurance industry are to Beijing to study the theory of asymmetric information.Crocker and Snow (1985) on the insurance fraud, in particular whether that policyholders have suffered accidents, such as the loss will affect the optimal information in the form of insurance contracts. Conversely, insurers avoid fraudulent insurance policyholders an important strategy is to design targeted insurance contracts, although it is only part of the insurance market to eliminate the impact of asymmetric information.And Mookerjee and Png (1989) is that, after the moral hazard of circumstances, the insurance can not be observed that the real cause of the accident, in such circumstances, the insurer's correct countermeasures conduct random audit checks. Picard (2000) insurance fraud audit for the optimal development of the theory of a significant area of study. Thereafter, the insurance fraud general economic analysis, the method used was: pure theoretical research, the research is based on the optimal audit Theory is from the insurance interests of the people against all forms of insurance policyholders fraudulent means how to formulate appropriate countermeasures theory.The insurance companies did not know the extent of Fengxian policyholders, the insured does not understand the insurance company's strategy, therefore, it is not the scope and level of insurance to 10% in the information under the conditions of the optimal state.Insurance eventually appear in the development of the insurance industry impact of the two issues, namely, the problem of adverse selection and moral hazard problems. The signing of the insurance contract and insurance policyholders process is the process of the game, only the two sides have reached a state of their own choice of the optimal their optimal strategies, insurance contracts can be signed. The social insurance coverage to the lives of the people in all aspects, we should seek to reduce the impact of asymmetric information, the paper using game theory and information economics knowledge, insurers and insurance policyholders in the signing process is the analysis of the game, First example of a medical insurance policy holders and insurance artificially research object, the establishment of complete information static game model, and solved a Nash equilibrium, from which one can see both sides of the Friends of the strategy, and further high-risk insurance for the insured object, Dynamic Game establishing complete information model, a Nash equilibrium solution, the two sides pointed out that the optimal strategy.From the various models of the Game object to the conclusions and the strategic choice, we are given the following policy recommendations to eliminate the insurance market information asymmetry:1. Urge insurance companies establish an information disclosure system, which requires insurance companies to demand disclosure of the insurance information, including the operational status, the terms of detailed information (especially the new insurance risk products). At the same time insurance supervision departments should also enhance internal information on the insurance industry's open, the establishment of insurance practitioners (including agents and security 2. Insurance agency senior management staff) databaseto facilitate social enquiries. 2. Insurance supervision departments to strengthen the supervision and management of the insurer of such monitoring in many aspects3. Further refinement and development of the insurance mature technology developed Western countries are not good at summing up without insurance market and the development of new technology, the provisions of the design, rate setting, the exhibition industry, we are claims norms and learn from the target.4. Accelerate the increase in the development of the insurance market and technical knowledge in a relatively monopolistic position in any case to the public and are willing to understand and learn, as the professionals have a systematic and comprehensive, it is necessary to reduce and eventually eliminate the negative effects of asymmetric information, must think ways to eliminate insurers and the insured, the insurance is the gap in knowledge, and as an associate in the insurance insurers and the insured bonds is the appropriate role.From the above we can see that insurance for insurance knowledge is very limited understanding of our modern insurance such a backward country, the insurance market will be on the asymmetric information economy workers is the eternal subject of study 1.