The State Of Operation Of Small And Medium-Sized Property And Casualty Insurance Company And The Strategy Research

Since the property and casualty insurance business restored in our country in 1980, the insurance business has achieved rapid development, whose average annual growth rate of premium income reached 23%, during the 36 years. While the premium has substantially increased, the number of insurance companies is also increasing. At the end of 2015, there are 51 Chinese-fund insurance companies and 22 foreign property insurance companies in China’s property insurance market. In 2014, as the issue of "State Ten", the insurance industry is about to enter a golden period of development. By 2015, the launch of highly anticipated provision and tariff reform in commercial motor vehicle insurance, brings both opportunities and challenges to the property insurance companies.Our property insurance market is a typical oligopolistic market, the traditional "Big Three"-the People’s insurance company of China, Ping An Insurance company and Pacific Insurance company not only account for the most part of premium income but also take up most of the net profit. By the end of 2014, the "Big three" companies together with the "dark horse"-An Bang Insurance company take up 80% of the property insurance market profits, and the remaining 61 small and medium-sized property insurance companies only share 20% of total profits, even 21 small property insurance companies are at a loss. Therefore, the profitability of small and medium-sized insurance companies has become increasingly prominent.Based on the increasing operating costs of small and medium-sized insurance companies, the author select one of the small and medium-sized property insurance companies that of representative --D Property and Casualty Insurance Company, Zhejiang Branch as an example, which is different from the papers that focus on the group of small and medium sized companies or the head office, and this paper is targeting at the secondary branch, who has its own feature in operation. At the beginning, the author briefly introduces the basic situation of the head office. Next, by a descriptive analysis of overall business conditions, motor vehicle insurance and non-motor vehicle insurance operating conditions, the author summarizes some of the existing problems of D Insurance company Zhejiang Branch in the management process. Finally, the author put forward feasible recommendations respectively for the company level, motor vehicle insurance level and non-motor vehicle insurance level.