Research On The Influence Of Business Structure Of Life Insurance Companies On Enterprise Efficiency In China

In recent years,the imbalance of business structure of China’s life insurance companies is serious,mainly due to the sharp increase in premium income of investment products such as universal insurance and investment-linked insurance;The products of payment,medium and short duration and high cash value have become important carriers for life insurance companies to absorb premiums;bank insurance channels further reduce the living space of individual agents and other channels;group business is further reduced,and some individual life insurance companies do not even carry out group business.Whether the life insurance company’s business structure is reasonable or not directly affects the quality of life insurance company’s operating results.The ability of life insurance companies to control input and output in the course of conducting business directly affects the level of efficiency of the enterprise and affects the life insurance company’s competitiveness in the market and its ability to develop in the future.Therefore,this paper explores the issue of enterprise efficiency from the perspective of the life insurance company’s business structure.This paper firstly reviews the relevant literature and summarizes the research methods and conclusions;Secondly,we introduces the theoretical basis of this paper and defines and divides the life insurance business structure;After that,we introduces the current business structure of China’s life insurance and analyzes the impact of business structure on the company’s operation;Finally,the panel three-stage DEA model is selected to measure the efficiency of the sample life insurance company.Taking the measured efficiency as the independent variable and the life insurance business structure as the dependent variables,study empirically on the impact of the life insurance business structure on the efficiency of the enterprise.The conclusions of this paper are as follows:First,the increase in the proportion of guaranteed types of insurance can significantly promote the technical efficiency and scale efficiency of life insurance companies in China at the level of 1%,and can significantly promote the improvement of pure technical efficiency at the level of 10%.Second,the increase in the proportion of personal agent channel business can significantly promote the technical efficiency,pure technical efficiency and scale efficiency of China’s life insurance companies at the level of 1%;third,the long-term life insurance business can increase at 1%.The level significantly improves the technical efficiency and scale efficiency of the enterprise,and the improvement is greater than other influencing factors.Fourth,the proportion of personal business is negatively correlated with the efficiency of business operations,but the correlation is not significant.