Research On Influencing Factors Of The Insurance Paying Rate About Operating Trucks

China has become largest road transport market in the world.It has more than 30 million truck drivers in the year 2017.The road transport market has a scale of more than 5 trillion RMB.The huge scale of the market has driven the rapid development of the vehicle insurance industry.In order to create more profits and gain access to the insurance market,the optimization of the loss ratio can lead to higher profit margins and claims services.However,with the deterioration of the quality about the truck insurance business,insurance companies face extremely severe circumstance in the operation of truck insurance.The competitive pressure of market shares and higher loss ratio are challengeable for insurance companies.How to occupy a position in the truck insurance market and to control the quality of the truck insurance has gradually become a key research content for the development of truck insurance in various property insurance companies.Therefore,the research in this paper has important practical significance.Based on the insurance cargo data of the operating trucks which is published by the Shandong Insurance Industry Association,this paper studies the influencing factors affecting the insurance premium rate of the operating trucks.Based on the reference of domestic and foreign literatures,this paper conducts an empirical analysis on the influencing factors affecting the insurance premium rate of operating trucks in combination with the actual situation of truck insurance in China.In terms of the external environment,the PEST tool analysis method is used to study the impact of environmental factors on the operating truck payout ratio.The research results shows that under the influence of factors such as gradual improvement of social governance,rapid economic development,improved performance of operating trucks and maturity of regulatory technology,the risk management of operating truck insurance will be gradually improved.In terms of internal factors,the fixed-effects model is used for empirical regression analysis,and the real data of the operating truck industry in the past three years of the property insurance company announced by the Shandong Insurance Industry Association was selected for empirical research.Inspection and analysis,the results show that the operating truck insurance payout rate is not only affected by the external environment,but also by internal factors,including single-average premiums,business proportions,frequency of insurance,single-average claims,premium discount rates,and renewal ratios.There are many indexes that have significant impact on the operation of trucks.Therefore,in the management and control of truck insurance business,it is necessary to seize the important factors affecting the loss ratio.We should strengthen the monitoring of key indicators to achieve effective control over the operating truck insurance.It will be helpful to improve the business profit and market share.This paper suggests that the improvement of the operating truck insurance loss rate needs to focus on sales management,strengthening underwriting management,and improving claims risk management and service capabilities.The company should optimize the core work links to control the loss ratio of operating truck insurance.The company's core competitiveness and brand image will be set up.The research can provide a useful reference for the insurance company to improve the loss ratio of insurance.