A Study On Efficiency And Influencing Factors Of Property Insurance Company Funds Companies' Fund Application

With the development of the insurance industry in China,the prudent use of insurance funds plays an important role in the development of insurance industry.As of2015,China's insurance funds have reached 7804 billion yuan,with financial return of7.56 percent,the best level since the 2008 international financial crisis.Notable is that benefit from the new pattern of diversified asset allocation,even if the insurance fund investment income stability significantly enhanced,but the low efficiency of use of insurance funds has gradually emerges,it will affect the healthy development of insurance industry,and the healthy operation of the financial industry.And life insurance and insurance are the two pillars of the insurance industry,the past scholars because life insurance funds accounted for so much more to explore the use of insurance funds,but as the economy gradually developed,the insurer has more important significance for enterprise development,therefore this article emphatically on the property insurance fund use efficiency and its influencing factors,targeted put forward countermeasures and Suggestions of general insurance fund use efficiency.This paper first summarizes the literature on the use efficiency of insurance funds at home and abroad,and then expatiates on the concepts and related theories,and introduces the methods of the main evaluation efficiency,laying the theoretical foundation for the empirical part.Then the empirical analysis part first uses the DEA method to measure the efficiency of the use of property insurance funds,and then establishes the Tobit model to analyze the influencing factors that affect the efficiency of the use of property insurance funds.Finally,according to the theoretical analysis and empirical research on the efficiency of China's property insurance funds to improve the feasibility of the proposed countermeasures and suggestions.The results show that:(1)the efficiency of the use of property insurance funds as a whole is low,the overall average technical efficiency,pure technical efficiency and scale efficiency in 2010-2015 are invalid.The level of efficiency of Chinese companies is higher than that of foreign companies.At the level of management and technical level,foreign companies are superior to Chinese companies.The level of pure technical efficiency of foreign companies is moderate,but because of the lack of local advantages,the scale efficiency is higher than that of Chinese enterprises So that the ratio of technical efficiency of foreign-funded enterprises is worse than that of Chinese-funded enterprises.(2)the large-scale management and technical level of large-scale companies,resource investment is highly efficient,and therefore the highest level of pure technical efficiency;and small companies in a part of the company belongs to foreign-funded enterprises,foreign companies pure technical efficiency value is high,but because Small-scale companies are too efficient in scale,so the overall technical efficiency of small companies is not high,and ultimately according to the size of enterprises to compare the level of technical efficiency from high to low sort,respectively,large and small.(3)Through the analysis of the annual Malmquist index of the whole sample,the technological progress curve is consistent with the fluctuation of the TFP curve,and the technical efficiency curve and the TFP curve are in the opposite relation(4)the enterprise scale to the wealth insurance fund The use of technical efficiency level has a positive role in promoting the scale of enterprises and other long-term securities investment ratio bond on the use of the size of the effectiveness of funds to promote the role of the market share of the use of wealth and capital to bring the negative effect of scale;Efficiency has a role in promoting.The increase in market share will lead to an increase in compensation,thus increasing the demand for enterprise management and technical level,especially large data analysis and actuarial modeling capabilities,thereby improving the level of pure technical efficiency of enterprises;compared to Chinese enterprises,foreign investment Enterprises with its mature management model and technical level is a high level of technical efficiency;investment sector highly educated talent to increase the efficiency of enterprises to improve pure technology.According to the research conclusion,this paper puts forward three countermeasures and suggestions to improve the efficiency of the use of wealth insurance funds,namely,optimize the market structure of the industry,strengthen the management level of the use of property and wealth insurance and introduce the professional knowledge talents.