Research On The Evaluation Of Core Competence Of Life Insurance Companies In China

With the continuous development of China's life insurance industry,Life insurance market has become a stabilizer of social stability in china.Under the background of economic globalization and financial liberalization,the factors that affect the core competitiveness of life insurance companies are changing and becoming more and more complex.To provide a reliable basis and scientific guidance for establishing and perfecting the operating mechanism of life insurance market and improving the ability to optimize the allocation of resources,it is important to correctly understand the operating characteristics of life insurance market in China and the influencing factors of the core competence of life insurance companies.The life insurance company's core competitiveness is the combination of the business skills and knowledge.To make long-term competitive advantage and to achieve sustained,stable and rising competitive strength,the core competence is very important.Furthermore,it is of great significance to promote the development of the whole life insurance market and the rational allocation of resources.This paper summarizes the domestic and foreign research methods,research models and research status of core competence,on this basis,the paper makes a comprehensive and systematic analysis of the core competitiveness of life insurance companies.This paper by using the method of qualitative analysis and quantitative analysis,according to the features of the development of life insurance industry in our country,and put forward the definition of the connotation of the core competence of life,then based on absorbing the existing research results,the status of the core competitiveness of China's life insurance companies the analysis.According to the particularity of life insurance companies.The influence factors of the core competence of life insurance companies are analyzed by value chain,Resource Elements,Capability Elements and Environment Elements.In this paper,a quantitative evaluation on the structural equation model is applied to the life insurance company's core competitiveness,structural equation model pays more attention to the intrinsic link between variables.The data of fifteen life insurance companies from 2011 to 2015 are selected as samples,and the quantitative evaluation model of core competence is constructed.The core competence of fifteen life insurance companies is sorted,and the results of this sort can well accord with the actual situation of the year.Finally,combined with the results of empirical analysis,the paper puts forward some countermeasures and suggestions to enhance the core competitiveness of China's life insurance companies.