Evaluation Of Operational Efficiency Of China's Property Insurance Company

In the field of economics, efficiency evaluation is often used to adjust the resource allocation process. You can study the efficiency from many aspects, such as output accounted for the proportion of input, current assets turnover ratio, short-term solvency ratio, asset liability ratio and other indicators, are a reflection of the enterprise management efficiency and evaluation indicators of risk ability.This paper analyses the problem of evaluation of the operation efficiency of property insurance companies. With the deepening of the degree of opening, the foreign property insurance companies continue to enter the Chinese market. Foreign capital company, insurance products, risk management, claims service, and other aspects are at the leading level, which gives Chinese property insurance company in the process of market competition bring enormous pressure. Therefore, the researching about the status of the operating efficiency of property insurance companies within Chinese territory, analyzing the operating efficiency of the current situation of the development, and carrying on the appraisal, has an important role in the development of the property insurance company's business and financial industry.Use the data envelopment analysis method, factor analysis method and gray correlation analysis method to analyze 14 property insurance companies' operational efficiency, comprehensive strength and market acceptance. In this paper, the analysis of data from the Tai'an Chinese database, select the 14 property insurance companies as a sample from the insurance industry in China, the empirical analysis from the data of 2006-2012.Use data envelopment analysis method to measure technical efficiency, pure technical efficiency and scale efficiency about 14 property insurance companies from 2006 to 2012. The results of the study show that, China's insurance industry in improving the technical efficiency, there is a big space. Efficiency is not high, which mainly caused by the management is not in place. Risk management techniques and China's insurance industry profit level are progressing and developing. Technical progress and total factor productivity to enhance the efficiency of the property insurance company plays an important role.By using the method of factor analysis, from three aspects of the debt paying ability, business development and profitability, the comprehensive strength of a property insurance company is analyzed. According to the factor score to analyze the influencing factors about the comprehensive strength. The analysis found that the solvency of the insurance company, business development space, the rate of net assets are the three main factors affecting the insurance company's comprehensive strength.By using the method of grey correlative analysis, to quantitatively evaluate the insurance company's market acceptance, which is to help the insured to make optimal decisions when choosing insurance companies. Analyze and compare the differences between insurance companies can get the insured reasonably avoid the risk, so it has realistic significance to the application of analysis method. As a direct audience group insurance, service quality and operation efficiency of insurance companies will be directly related to the insured when the insurance during the effective date. When customers buying insurances, they will select from a number of insurance companies. Through combing the three aspects,such as the methods of efficiency evaluation, characteristics of property insurance industry, the current research situation about domestic and foreign, find the main problems which China's insurance industry will face, and put forward the corresponding policy suggestions and solutions, with the hope that it will promote the efficiency of China's property insurance industry.