A Research On The Development And Innovation Of The Technology Insurance

In the year2005to2006, the State Council have launched National Long-term Plan For Scientific and Technological Development (2006-2020)(SC[2005] No.44),Attitudes on Accelerating The Reform and Development of the Insurance Industry (SC[2006] No.23). In march of2010, Ministry of Science and Technology accompanied with CIRC issued Notice on Further Improving Work Of Technology Insurance (SIRC[2010]No.31), indicating the more regulated work of Technology Insurance starting being promoted across the country. Considering the situation, problems and measures of technology insurance tentative work for the passing three years, on December2010,Technology Department joined by PBC, CIRC,CBRC, CSRC released Promote the Combination of Technological and Financial Tentative Implementation Project (NSF [2010]720), exteriorly put forward the idea of fully integration of technology and finance, calling upon investment institutions, banks, broke agents, insurance companies and other units of technology finance intermediaries jointly commence technology innovation finance service system.Technological Insurance is a measure taken jointly by Ministry of Science and Technology and CIRC to serve the development of high-tech enterprise, with the aim of promoting the implementation of China’s innovation strategy. As a critical guarantee for self-innovation, Technology Insurance plays a crucial role in lifting the efficiency of self-innovation nationwide and building up our technological power. Technological insurance effectively disperse the risk of R&D projects, increasing R&D enthusiasm, in the meanwhile, decreasing the risk of fail-done in R&D project implementation, thus improving the efficiency and promoting social science development radically. The launch of Technological Insurance is an action promising the independent innovation strategy, urging the integration of technology and finance. After four years of experiment, science and technology insurance tentative work has made a breakthrough. However, exploring high-efficiency policy mode of promoting technological insurance and resolving problems uncovered in the experiment units become quite urgent. This paper aims to summarize the implementation effect of the pilot cities-Chengdu, Beijing, Tianjin, Chongqing etc., after studying on the basis of data analysis of three years pilot work. Analyze current pilot-processing issues according to the scientific and technological risks and characteristics, learn from the former successful experience of other policies of insurance, discuss the innovation of science and technology insurance and put forward the suggestions of expedite the implementation of Technology Insurance.The paper includes the theory of science and technology risks, analysis and innovation of Chengdu Technology Insurance surveys and case studies based on theoretical and experimental data analysis. Then the specific structure of this paper is as follows:Chapter Ⅰ, IntroductionChapter Ⅱ, science and technology risks and Technology Insurance Overview, which contains two sections:classification and characteristics of the technology risk; insurable risk and technology risk insurability.Chapter Ⅲ, the analysis and evaluation of the development status of China’s science and technology insurance, which contains three sections:the development status of China’s science and technology insurance; Chengdu, Sichuan Province, insurance field research; the development of China’s science and technology insurance lags behind the root cause analysis.Chapter Ⅳ, science and technology insurance products innovation and technology risk assessment mechanism, which contains three sections:the types of insurance products with science and technology innovation:product pricing innovation:insurance company technology risk assessment mechanism innovation.Chapter Technology Insurance risk-sharing mechanisms and innovation and risk financing mechanism, which contains three sections:the scientific and technological catastrophe risk spreading mechanism innovation; insurance companies and technology enterprises in the risk-sharing mechanism innovation; technology insurance, banking, secured in science and technology enterprise risk financing mechanism for innovation.Chapter VI, the Government introduced in science and technology insurance guiding mechanism of innovation, which contains two sections: The innovation of science and technology insurance financial subsidy mechanism; Government set up a technology risk to guide the Fund, analyzed the risk of Chongqing Science and Technology to guide the Fund Case.On the basis of former research accomplishment, this paper puts forwards the following new ideas:First, with regard to science and technology insurance products innovation and technology risk assessment mechanism, the paper analyzes on the market today there are nearly30kinds of insurance products provided by the four insurance companies still can not meet the diversification of the market demand, in view of this, according to the actual situation, this paper presents several new types of insurance, and described the feasibility and necessity; for risk assessment, drawing on the initiatives of other policy of insurance, Technology Insurance need to be perfected.Second, this paper introduce the catastrophe bonds, protect funds, risk-sharing mechanisms such as insurance companies, technology companies, banks, guarantee companies into risk-sharing system and the distribution of benefits, and let the technology to a greater risk within the dispersion to reduce the risk of the insurance company takes science and technology insurance. Technology risk assessment mechanism, innovatively induct the evaluation agency and post-assessment mechanism.Third, in the aspect of considering the science and technology insurance as a policy-trait insurance, combined with the current development of China’s science and technology insurance and the analysis of government-led behavior, proposed a few areas for improvement of financial subsidies for Technology Insurance and expatiate the establishment of introductory fund. Lastly, analyze the promoting effect of Chong Qing Science and Technology financial services platform towards the development of science and technology insurance.Technology Insurance is currently in the phase of piloting, yet not fully implemented all over the country, thus shorting of data of such insurance companies makes empirical research really hard to put into practice.While the paper still has a lot of shortcomings as the following aspects show, expecting deeper follow-up studies to be carried out:Research on determining the enterprise technology risk, industry risk and single project risks, risk level of control of enterprise technology project, the frequency of accidents, the correlation of the extent of losses; research on the divided risk level of the enterprise; intermediaries’assessment indicators and assessment criteria towards science and technology project risk, the corresponding relationship of assessment results and rate adjustment; study on work processing and supervision management mechanism of the technology risk assessment.