Comparative Analysis Of China Property Insurance Companies On Competitiveness

Since the reform and opening-up, our country gradually returned to the developing of the insurance industry. Insurance companies have appeared rapidly in China. In the property insurance market, as the foundation of Chinese insurance companies the dominant position of PICC has changed. With our country’s accession to WTO in 2001, our insurance market gradually open to the world, the foreign insurance groups began to establish branches on our land. The number of operators has greatly increased in the property insurance market in China. The premium scale of property insurance industry has increased from 60.6 billion in 2000 to 553 billion in 2012. It has turned over 5 times among 12 years. The profit scale has been rising steady. Although these are unprecedented opportunities for property insurance companies, as the number of competitors rising and the main property insurers’falling in market share, competition in the property insurance market becomes fierce. Faced with such fierce competition the best way to hold share in the market is improving enterprises’core competitiveness. So how to improve the competitiveness of the property insurance companies, especially the competitiveness of the Chinese property insurance company has important significance to support and develop the national insurance industry. Through researching the competitiveness of the property insurance company in China, this paper tries to find a systematic and objective theory to evaluate the competitiveness of property insurance companies, and come up with some methods and suggestions to help property insurance companies to enhance their competitiveness.Part 1 of the article lays the foundation of the research. I identified suitable theory of property insurance enterprises’ competitiveness by referring domestic and international research of competitiveness. I had not only determined to choose the core competence system as the starting point of property insurance companies’ competitiveness research, but also established a research method and thought. Part 2 mainly elaborates the core competiveness theory, on the basis of which differentiates out of the constituent elements of core competiveness, and builds the index system, selects samples firms. Part 3,Part 4,Part 5 mainly combine with 2012 insurance companies’business data to analysis the core competiveness on profitability, solvency and underwriting ability. Part 6 uses the variance coefficient method to make an empirical research on sample companies’ competitiveness. Part 7 gives some way to enhance competitiveness of Chinese property insurance companies. The last part summarizes the research results.The novelty of this paper is the exploration of evaluating the theoretical system of property insurance company competitiveness. The competitiveness evaluation index system highlights the pertinence and refining. And I constructed an empirical model about the competitiveness of property insurance company from a simply idea. The evaluation system not only has strong theoretical significance, but also has strong operability. Due to time constraints, data limitation and sample companies’ inadequacy, the scientific nature of the theoretical results remains to be further validation.