On The Insurance Agency System In China In The Transitional Period

Insurance middleman, an important go-between in the insurance markets, acts as the provider of information and helps to optimize resources distribution. Even compared with that in other developing countries or trans-economy countries, Chinese insurance business has a lower rate of GDP. The insurance middleman system has become the "bottleneck", so it is urgent to improve this situation.During the shift from the planned economy to the market economy, our research on the insurance middleman system must depend on macro-economic conditions. Only by knowing the orientation of general economy, can we carry out transplanting and innovation. Based on the cultural environment, the foundation and content of innovation will be discussed with economy, finance and sociology.This thesis falls into three parts.Part A Restraint of Macro-economy and Insurance Industry to the Insurance Middleman System.The key is the choice of transformation path. The author explains that China's reform is a gradual process of self-perfection and points out two aspects about the gradual characteristics. The success of China's reform lies in expanding the signification of market economy.The features of macro-economy in transformation period are as following :a. Co-development of modern market economy and simple commodity economy.b. New market mainstay coming forward in great number.c. Altering the way to distribute resources largely.d. Enhancing the new growing mechanism joint with the west and the east of China.e. Speeding up finance economy to accomplish the market orientation.The features of the insurance business during transformation period are as following:a. The evolution of market model from total monopoly to oligarch, then going to monopolistic competition. b. The growth momentum of the insurance business becoming sharper than that of the national economy and the life business being the first.c. Overall arrangement of regional economy and city-countryside economy restraining the insurance d. The middleman system developing fast with a tendency to specialize and multivariate.e. The Opening-up policy and entry to WTO accelerating the insurance to accomplish the market orientation and synchronize with the world.Five cardinal principles can be upheld to promote the insurance middleman system to meet with the particular economic conditions. Part B Theories and Practices on the Innovation of the Insurance Middleman System.After applying institution economic theory for explaining the origin of the system, the author goes on analyzing what is the effect of the transformation economy on the industry. And the government has to regulate the marketing behavior considering interest equilibrium. China's traditional political structure, legal system, social customs and ethics form non-formal restraint to the insurance middleman system, so we should impose value reconstruction to improve it.Having analyzed and compared with other countries and regions' system model, the author makes a critical and affirmative comment on the current China's insurance middleman system. The aim model is drawn. The general model consists of the insurance agent, the mainstream of the middleman system, and the broker and notary. The dominant organization form is corporation. There is the difference between the life and fortune business:a. In life business, the major is the specialized agent, in which the individual agent and part-period agent are included.b. In fortune business, the majority of middleman is the specialized agent, but the broker and notary have the same importance as well.The next chapter focuses on the executing mechanism of the insurance middleman system during transformation period. Enlightened by other countries and regions' comments on the current executing mechanism of China, the author gives some proposals, which are putting regulatory departments on a sound footing, and setting up the self-discipline institutions.In spite of the weakness of China's rur...