| In recent years, the insurance industry has become one of the fastest-growing sectors of China’s national economic development, with the constant improvement of the socialist market economic system and the continuous improvement of the living standards, the demand for insurance is also increasing year by year. It will able to play a greater role in the risk management and basic public service system construction. Especially after the2008financial crisis, the measures to deal with the financial crisis in the insurance industry, and the reflection of the financial crisis continues to deepen. The future for a period of time, China’s insurance industry will continue to be in the high-growth stage. As of2010, the scale of China’s insurance market ranked6th in the world, this ranking will continue to improve in the future, from a potential emerging market in China will grow into one of the world’s most important insurance market. Among them, the life insurance industry is also occupied a relatively large share of the entire insurance industry, the life insurance industry’s core strength lies in the long-term savings and risk protection features, this is a unique advantage is different from other industries. It promotes the country’s sustained economic development and harmonious social stability. The strength of the life insurance company’s competitiveness is the key to the long-term development, and the core of enhancing the competitiveness is the efficiency issues. It is also important reasons to choose the life insurance industry. That’s the important reason why I choose the life insurance industry efficiency as the research article.This paper selected17life insurance companies as an object of study, analysis of research on China from2005to2010, the life insurance industry efficiency by using the three-stage DEA method who can eliminate the environment and random error factors affect, as well as changes in the efficiency of research Malmquist productivity index method.The first chapter introduces the thesis research background, significance, research status and this research framework. The second chapter introduces the meaning of the efficiency and research methods. And the existing efficiency research methods were compared, explain the reasons for select DEA efficiency research. Next, given the correlation model, included the CCR model, BCC model and Malmquist productivity index. The third chapter, the paper makes an efficiency empirical analysis of life insurance companies in our country. First, select the input and output indicators, and environmental variables. The paper also gives proper index system. This paper argues that life insurance as an important means of risk management, financial ratios included in the output indicators. And negative treatment. Then, given the selection of the model and the sample is described. Finally, the empirical analysis of the three-stage DEA and Malmquist productivity index. The fourth chapter in the above the empirical results are given on the basis of the conclusion and policy suggestions.The empirical results show that, using three-stage DEA, we find compared to the first stage and the third stage, the resulting efficiency adjusted value changes, the environment and random error adjustment for efficiency is essential. It also shows the overall inefficiency of the life insurance Company in China mainly due to scale inefficiency, mainly life insurance Company in China is far from achieving economies of scale. Pure technical inefficiency inefficient company is also one of the reasons. Compare Chinese-funded and foreign companies found that, China’s overall life insurance industry scale inefficiency is mainly due to the low efficiency of the scale of foreign life insurance companies. Malmquist Index analysis shows the productivity growth of the life insurance company more from technological progress, and the progress of the productive forces of the Chinese-funded companies than foreign companies depend more on technological progress. |
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