Construction And Application Of China’s Life Insurance Company’s Competitiveness Evaluation System

As China enters the acceleration of the aging society, pension gradually become major social problems, the life insurance plays an important role for solving the problem. Life insurance companies is the main bearer of the life insurance industry, the full opening of China’s financial markets today, the life insurance company has exposure to the larger environment of international competition, the study of the life insurance company’s position in the international competition for the development of the whole meaning of life insurance industry significant.Competitive academic research achievements have been many, depending on the stage and the environment, focusing on aspects of the Institute’s different, there are three main theoretical results:market positioning, differences in resources, the compitivete ability. Comprehensive definition of the three theories on competitiveness, combined life insurance company’s operating characteristics, this article will be defined as life insurance companies competitive life insurance companies for their own internal and external resources to optimize integration, more comprehensive ongoing ability to operate efficiently than rivals, including corporate earnings capacity, human capital, capacity development, the scale of strength, solvency and continued viability and other aspects.Competitiveness is to use scientific methods to evaluate various aspects of a comprehensive evaluation of the company, the method used in the academic competitiveness evaluation mainly fuzzy evaluation method-level analysis, gray correlation, factor analysis, factor analysis during Competitiveness when calculating the weight given by the objective to avoid subjective bias assignment to bring results, and factor analysis when building the competitiveness evaluation index system can effectively simplify the indicator system, relatively comprehensive ability to evaluate all aspects of the company.From the scale of strength, human capital, profitability, innovation and development capability of insurance, solvency, quality of service and management capabilities in six areas selected22indicators index system for life insurance companies to build competitive, to have two or more full year of operation and complete disclosure of47foreign life insurance companies as samples, after many calculations and ultimately by15indicators constructed evaluation model, based on the model of each factor and overall competitiveness score and sort of life insurance companies, according to results of empirical results life insurance companies there are obvious advantages in terms of the scale of strength, but in innovation and insurance solvency and foreign companies have significant gaps. According to the empirical results, in order to improve the competitiveness of China’s life insurance companies, the paper improve service quality, increase innovation in six areas gives some suggestions.