Research On The Impact Of Commercial Auto Insurance Reform And Regulatory Trends On The Operation And Management Of Property Insurance Companies

With the continuous development of China's economic growth and Chinese people's living standards,automobiles have gradually become a necessity in production and life,followed by the crazy increase in automobile sales and the rapid expansion of the auto insurance market.However,due to the lack of overall regulation,a number of vicious problems have been revealed in the prosperous auto insurance market,such as the rivalry for market share among property insurance companies,the vicious competition of launching products at high costs,and the difficulty in the effective protection of consumer rights and interests.In order to better regulate the marketization process and ensure a sound and orderly market,after years of practice,the China Insurance Regulatory Commission officially launched the nationwide reform of commercial auto insurance marketization in 2015 and effectively solved the problems such as "high insurance and low compensation",giving more protection to the lawful operation rights of consumers.Meanwhile,the trends in China's regulation of the auto insurance market have also undergone tremendous changes.The commercial auto insurance reform has brought not only new opportunities but also huge challenges for the development of property insurance companies.Based on the introduction to the research background and significance,the present thesis conducts an analysis of the main content of China's commercial auto insurance reform.The author focuses on expounding its initiation background,development process,significance and evaluation by the method of literature research,and gives a detailed introduction to the changes in the clauses and rates through comparative analysis.Furthermore,this thesis probes into the challenges and strategic trends of auto insurance regulation in the light of China's commercial auto insurance reform,pointing out these challenges from the aspects of legislation,regulatory agencies and enforcement.For this purpose,by analyzing the implications of British,American and Japanese insurance regulatory systems for China's market supervision and taking into account a series of regulatory measures taken by China's regulatory agencies including the strengthening of "threshold regulation",the regulation of illicit phenomena in the auto insurance market and the increase of regulatory intensity,the author proposes that,given the current market regulatory trends against the background of the commercial auto insurance reform,the legal system of auto insurance regulation should be improved and the regulatory operability should be enhanced at the level of legislation;the responsibilities of banking and insurance regulation should be integrated and the three regulatory measures should be combined at the level of regulatory agencies;the improvement of auto insurance information disclosure mechanism and informatization construction should be further promoted at the level of enforcement;the intensity of regulation and administrative punishment should be increased at the level of regulatory intensity.After analyzing the development trends of commercial auto insurance regulation,in a bid to undertake a comprehensive analysis of the overall operation and management of property insurance companies under China's commercial auto insurance reform and supervision,the author adopts the methods of comparative analysis and empirical analysis,takes Z Property Insurance Company S Branch as the research object,studies the impact of the commercial auto insurance reform and regulatory trends on the company's operating conditions,growth rate of insurance premiums,channel development,etc.through data analysis,and focuses on the research on the opportunities and challenges faced by property insurance companies in the context of the commercial auto insurance reform.Eventually,the author puts forward the following countermeasures for the operation and management of property insurance companies in the presence of the commercial auto insurance reform:standardize underwriting policy formulation principles,implement delicacy management,optimize service system,develop channel marketing strategy,strengthen internal and external management,prevent and control claim settlement risks,strengthen benchmarking management of major performance indicators,enhance daily monitoring of regulatory indicators,strengthen information technology processing,realize the development and application of the internet of vehicles and so on.It is hoped that this research can contribute a useful reference to the property insurance companies in making correct choice of operating strategies in the context of China's commercial auto insurance reform and regulatory trends.