Research On The Performance Evaluation Of A Life Insurance Company Based On Balanced Scorecard

As one of the three pillars of the financial industry,the insurance business has achieved unprecedented development in terms of business scale and insurance market.However,in the meantime,the insurance business faces increasingly fierce competition.Facing the severe situation,clear future development strategies,improvement of company management,complete the management mechanism,are the only way to win the business share,and keep its occupation in the insurance market.Therefore,for A life insurance company,the only way to get comprehensive analysis of the present management situation is to change management idea and to apply the combination of financial indicators and non-financial indicators,thus guide the business activity more effectively in the future and continue to solve problems in the development process of the company,achieving the strategic goals of the company.In this paper,a balanced scorecard is used to study the performance evaluation of A life insurance company.First of all,a comprehensively review of the relevant theories of papers from China and foreign countries was carried out.Secondly,the systematic description of performance evaluation theory and method is carried out.Again,applied the case analysis,selecting a representative of A life insurance company as an example,and analyzed in detail the present situation of the performance evaluation of A life insurance company,finding out the problem.Finally,applied the four dimensions of balanced scorecard,and decomposed the strategic targets of A insurance company step by step.Defined each dimension and evaluated index weigh by using the analytic hierarchy process.Considering different dimensions indices of A life insurance company,carried out the empirical analysis and implemented safe guard measures for the company.