The Empirical Study Of Impact Factors Of Trust In Insurance Industry And The Construction Of Insurance Credibility Information System

The trust between buyers and sellers, especially the trust to sellers of buyers, is the base of commodities trading. In insurance industry, the fact that consumers have low trust to insurance agents is an important factor which restricts the development of insurance industry in China and it results from both the current insurance agent system and the personal reasons of agents. Because of the low entry barrier set by the system, the quality of agents is uneven. And the assessment mechanism focusing on sales performance in insurance companies causes a state of mind being eager for quick success and commission, which leads to cheat and illegal behavior doing the consumers'interests much harm. In the situation that the impression of insurance agents on the society is not so good, the agents who have good quality and capacity can't get the deserving recognition, and once they quit the industry the overall quality of agents will decrease further, which is a vicious circle.First, we use information economics theory to analyse the main factors impacting trust besides the defect of insurance agent system itself, and then discuss the method to improve the current situation(in this research limit to life insurance) and to optimize the trust establishing process in angles of agents themselves and the third party.In this research, we consider that a main reason of lack of trust is that buyers and sellers have different cognition in different factors which impact trust. From the angle of agents themselves, we subdivide those factors, design questionnaires, discover the cognition differences between consumers and agents and raise some advice to help agents improve their practice in the future. Different from the former empirical studies, our study use a method of comparing cognition differences in same factors substituting the that of unilaterally observing what consumers regard.From the angle of the third party, we discuss the basic model of insurance credibility information system. Referring to the different kinds of existing information system, we analyse the feasibility and method of this system and develop the main functions of it tentatively. The purpose to construct this system is to change the information asymmetry between agents and consumers and make an open information platform so they can understand each other more conveniently. The former researches mostly focused on information systems inside an insurance company and the E-commerce systems of insurance, and we choose a new content as the aim of an insurance information system.After the improvement from these two aspects above, the problem of lack of trust in insurance industry is expected to take a turn for the better and the development of this industry in China is expected to have a new chance.The structure of this paper is given as follows. The first chapter will introduce the current situation and main problems of insurance industry in China in brief, summarize the relevant literature and give the technique route. In the second chapter we will analyse the problem of lack of trust using information economics theory. The empirical study will be introduced and the statistics result will be given in the third chapter. We will discuss the feasibility and basic method of constructing the insurance credibility information system and show the tentative model of it in the fourth chapter. And in the last chapter, we will forecast the future of insurance industry after the improvement of trust problem, list the shortages of this research and discuss the further research. The manuscript of questionnaires will be given in the appendix.