Research On The Degree Of Competition And Its Influencing Factors In China's Life Insurance Market

In 2017,China's insurance industry has a total of 3.7 trillion yuan in insurance premiums.The original insurance premiums have increased from 564 billion yuan in 2006 to 3.7 trillion yuan in 2017,with an average annual growth of 46%,and the insurance industry has achieved steady growth.Regional insurance market also shows prosperity,the market competition is increasingly fierce.The city is the basic unit of our administrative unit,which also is the basic module that promotes our country economy.Small market booms can drive big markets.The study on the level of competition in the life insurance market in the region-county can better understand the competition situation of the whole life insurance market in China.According to different levels of competition,it is necessary to develop a differentiated response policy so as to better promote the development of China's personal insurance market.This article first from the east,middle,west and northeast geographic four plates,premium income in high,medium and low three levels,hot spot area,I studied each municipal personal insurance market competition situation in these three aspects respectively.Secondly,the paper analyzes the competition degree and the influencing factors of China's municipal personal insurance market.Thirdly,the competition degree and influencing factors of the insurance market were analyzed by using the market data of region-county life insurance market from 2006 to 2015 in empirical analysis.Finally,this paper puts forward the research results and the policy Suggestions to promote the healthy development of the personal insurance market in China.The results of this study found that the market monopoly degree of the region-county insurance market was high and the market difference was large.GDP,premium income,insurance density,the number of companies all are positively correlated with the level of competition in the region-country market,reducing the general life insurance and increasing investment life insurance will promote the level of market competition.