| Since China comprehensively restored insurance business in the early 1980s, our motor vehicle insurance industry has begun to develop rapidly. The motor vehicle insurance income reached 51.593 billion RMB in 2014 whose percentage was 72.84% in the income of Chinese insurance company. Therefore, auto insurance has now become the most crucial support in the insurance market, and it has been more significant than ever because private cars has been our important products for production and life. It can be inferred that the fast growth of Chinese auto industry as well as the increase of car ownership straightforwardly stimulate people's demand for motor vehicle insurance. Although there is an obvious positive correlation between the development of motor vehicle insurance and the volume of auto sales in the car market, this thesis will not regard it as the only factor that affects the progress of the insurance industry. Increasing main bodies of motor vehicle insurance, policies and regulations, and so on also have great influence on the growth of motor vehicle insurance. On February 3rd,2015, the China Insurance Regulatory Commission released a guidance on deepening the management system reform of commercial vehicle insurance clauses and premium rates, marking the next phase of market-oriented motor vehicle insurance premium. From the review of premium rate reform in 2003, it is necessary to analyze its influence on the growth of Chinese motor vehicle insurance income.Based on the reading of related domestic and foreign materials for research, this thesis will analyze the current situation of our country's motor vehicle insurance market, and influencing factors in the insurance income through theoretical analysis as well as empirical test. By the means of the supply and demand theory, industrial economic theory, and econometrics as well as SPSS application, this thesis will analyze on the relevant data from 1995 to 2014 caused by GDP, household consumption level, civil motor vehicles, urbanization rate, number of traffic accident, loss ratio, number of insurance companies, and CR3, and conclude four factors including level of economic development, motor vehicle insurance market, risk factor, and level of loss ratio. This article is divided into five parts, the main content is as follows:The first part is the introduction. The introduction mainly introduces the research background and significance, combed the research ideas and methods, and through study of the influence factors of the motor vehicle insurance premium growth brief review and evaluation, this paper research on the innovation and deficiency.The second part introduces the concept of motor vehicle insurance in our country and its development process, and from the perspective of industry economics and analyzes the present situation of Chinese motor vehicle insurance market. In analyzing the current situation of insurance market is mainly analyzed the motor vehicle insurance market structure, market behavior and related motor vehicle insurance policies and regulations.The third part on the influencing factors of motor vehicle insurance growth in our country has carried on the principal component analysis. This section to identify induction of many factors affecting motor vehicle insurance premium growth, using principal component analysis will be dimension reduction, many factors extracted four principal component factor of economic development level factor, motor vehicle insurance market development level factor, risk factor, loss ratio level factors, for the follow-up study on the principal component factor analysis. Through co-integration analysis found that level of economic development factor, motor vehicle insurance market development level factor and risk factor is positive effect for premium income, and the loss ratio level factor is negative effect for motor vehicle insurance premium income. Among them, the level of economic development factor and the motor vehicle insurance market development level factor on growth of premium is larger, the influence of the level of economic development factors of residents'consumption level and the level of urbanization contribution is bigger. Through the error correction model, which can be found in the short term economic development level of the influence of motor vehicle insurance premium growth significantly below the long term. Finally the rate marketization reform and comprehensive implementation of the two factors as virtual variables into the regression equation, analyses its dynamic adjustment of the effect on growth of premium income, results show that the motor vehicle insurance rate changes and the implementation of the comprehensive growth has a promoting effect on motor vehicle insurance premiums.The fourth part is conclusion and policy recommendations. Several suggestions will be given at the end of this thesis for improving the progress of our motor vehicle insurance income from the view of government, insurance companies, and regulators according to the research and empirical results and China's present situation of auto insurance industry.Scholars at home and abroad on the motor vehicle insurance market research is more focused on research from the perspective of demand the influence of macroeconomic factors on the premium income, in terms of supply and demand theory focuses on the effect on demand, the lack of the study on supply factors. And this paper on the basis of considering the two aspects of supply and demand and in combination with the status quo of the motor vehicle insurance market, from the Angle of industrial economics analysis of automobile insurance market structure, market behavior on motor vehicle insurance premium growth, the influence of diversified research point of view, more objective and accurate to find the cause of the motor vehicle insurance premium growth. |
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