| On June 1,2015, China’s commercial auto insurance reform started in six regions of Heilongjiang, Shandong, Qingdao, Shaanxi, Chongqing and Guangxi, the relevant insurance company began the implementation of new commercial vehicle insurance clauses and premium rates management system, bringing the long-awaited new round of commercial fare rates market-oriented reforms began. At the same time, advances in science and technology constantly provide new conditions for the insurance industry."Internet+" pattern has a profound impact on the insurance industry, for example, product design, service model and business management. Widely use in big data makes precision marketing, accurate pricing and fine service possible. All this to the domestic auto insurance companies has brought opportunities but also brought new challenges.Efficiency is one of the core issues of economics. It is related to the rational allocation and use of scarce resources, by what means can be used to study scientific and effective allocation of scarce resources. Operating efficiency of an auto insurance company that refers to the contrast between the total investment and total output, total costs and total revenue in the auto insurance business operations. For auto insurance companies, the efficiency can reflect its input and output capabilities, market competitiveness and sustainable development capacity.Therefore, under the new environment, study of auto insurance operating efficiency, and explore the factors affecting the level of operating efficiency, put forward proposals to further improve of the operational efficiency of auto insurance have a very important practical significance.Throughout the study, the paper adopted a general idea of total - points - total. In the introduction, explained the background and significance of the study, pointed out that the relevant literature research and the method used herein. Next, a detailed analysis of the operation of insurance, including auto insurance business entities, auto insurance premiums and claims expenses as well as auto insurance business accounted for and business results, at the same time, discusses the theory and measureing methods of efficiency described herein are going to use. So far, it has completed the theoretical basis of this paper. On this basis, by 2011-2014 of "China Insurance years," collected a lot of data related to our auto insurance operations, using DEA analysis method to measure and analyze the efficiency of the company’s auto insurance businesses. After that, according to section arrangement, factors affecting the efficiency of auto insurance business were made a qualitative descriptive and empirical analysis, empirical analysis section use the correlation analysis methods. According to empirical results show, the loss ratio, expense ratio, company size, market share and operating efficiency significantly correlated,this is consistent with the view of most scholars, but the results are abnormal in that the loss ratio and the operating efficiency has positive correlation, indicating that low operational efficiency of insurance business is not primarily due to higher payments. This conclusion is in line with practice in the auto insurance market that the insurance company with profitability, high operating efficiency has a high auto insurance loss ratio. In addition, staff quality showed no correlation with operational efficiency but negative correlation with scale efficiency, indicating that the auto insurance business in the country, the quality of the staff yet to play its due role, knowledge and technology failed to bring real economic value to the enterprise, and this is closely related to the present stage. According to the results of the above empirical analysis, the paper puts forward some corresponding proposals from the insurance regulators, self-regulatory organization of insurance and insurance companies.This paper uses correlation analysis to inquiry the factors affecting the efficiency of auto insurance business preliminarily. The relevant literature was very few and did not specifically summarize the efficiency factors or have no systematical factors empirical analysis,which just calculated the operating efficiency only.This paper uses the correlation analysis to analyze the affecting factors of auto insurance operating efficiency and have done an empirical analysis, and the resulting conclusions are explained and analyzed. In the end, this paper puts forward some corresponding proposals. As some indicators are difficult to quantify and data unavailability problems, this paper does not include the auto insurance operating efficiency factors fully, and for the analysis of the factors taken into account are still in relatively shallow stage. In addition, due to the lack of unified input-output index system of insurance field, the scholars in the use of DEA method to study the efficiency of the insurance industry based on their study purposes and other factors to determine the input and output indexes, leading to the choice of input and output indexes herein can only refer to other documents and the relevant theoretical and practical situation. Using correlation analysis method for auto insurance operating efficiency influencing factors analyzing is also still in the preliminary stage of exploration, these problems have to be completed through continuous research. |
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