Research On Product Innovation Of Shaanxi Sub-Company Of Ping'an Property Insurance Co.Ltd. Of China

In 2007, the original premium income of Shaanxi insurance industry was 15,050 billion RMB which increased by 29.54% comparing with that of last year; the original premium income of property insurance was 3,997billion RMB which increased by 33.63% comparing with that of last year, with a very good performance in sustainable growth; but the the property insurance has taken smaller part in the original premium, the reasons are many ,one of the most prominent is that the product innovation is not enough ,and the insurance can't find out the risk fully, and can't cater for the market segments needs.This article is trying to combine Shaanxi current development situation and trend of Shaanxi property insurance enterprises with referring to development experience of developed countries insurance industry to provide solid basis for product innovation theory and evidence and improve product innovativeness of China domestic insurance industry to upgrade operation level and competitiveness of Shaanxi property insurance enterprises.Via integrated analysis method of comparative analysis, standard analysis and positive analysis, and the system theory ,this article carried out comparison between product innovation practices of property insurance enterprises at home and broad and put forward suggestions and countermeasures of upgrading product innovativeness of Chinese property insurance enterprises. The direction which is brought forward in this article on product innovation of Chinese property insurance enterprises has been endued with a new meaning and important and practical referential value in aspects of key points, missions and direction of Chinese property insurance enterprises.It is thought that the innovative direction of products of Shaanxi property insurance enterprises shall be: a. widening the insurance service fields, covering the high-tech industry; b. based on the western financial center, developing the Integrated financial products ;c. developing the small Life Insurance to service the tridimensional industry chain of agriculture, rural areas and farmers, d. playing the social functions of the property insurance fully.Product innovative safeguards of Shaanxi property insurance enterprises: a. laws related with insurance are guarantee of insurance variety innovation; b. establishment of incentive system to keep the source of innovation power; c. well-conducting market investigation and find out the valuable innovation programs d. organizing the professionals to make the programs of risk management; e. to strengthen measuring and controlling the risk of innovation.