Research On The Factors Influencing The Competition Level Of Property Insurance Market In China

Since joining the WTO,with the end of the insurance market protection period,the requirements for foreign investment access have gradually lowered,and the emphasis on"making the market play a decisive role in the allocation of resources"in the Third Plenary Session of the 18th Central Committee.The degree of openness and competition in China's property insurance market has gradually increased.The number of market entities has increased,the market concentration has decreased,the degree of marketization of fees has deepened,and the types of property insurance products have gradually increased.From a national perspective,the market concentration is still too high,and the property insurance market is still in the oligopoly stage.However,it is questionable whether the conclusion at the national level is applicable to provincial and below markets.The basis of theoretical research on industrial organization is the delineation of the market.From the actual point of view in China,due to the limitation of the operating area,competition among property insurance companies is more Reflected at the provincial level and the prefecture-level level,the prefecture-level level can fully reflect the current degree of competition in China's property insurance market.Therefore,it is necessary to find the influencing factors that affect the degree of competition in China's property insurance market at the prefecture-level level,and then formulate targeted supervision and development strategies to promote the healthy development of China's property insurance market.On the basis of sorting out relevant literature,this paper takes the property insurance market at the prefecture-level administrative level as a research sample,and first measures the degree of competition in the property insurance market at the prefecture-level level,and selects₉),HHI index,and entropy index?E?.Three indicators measure the degree of competition in the prefecture-level property insurance market in China,and then analyze the degree of competition from different regions,premium income levels,and automobile ownership.Secondly,construct a panel data model at the prefecture and city level from 2008 to 2017,and select the GDP,premium income,civilian car ownership,insurance deposits and investment funds,insurance density,number of insurance companies,and insurance product structure as explanatory variables.To explore the impact on competition.And group regression based on HHI index,GDP,and number of insurance companies,and observe whether there are differences in the factors affecting the degree of competition in the property insurance market under different conditions.Finally,combining the measurement of the degree of competition and the empirical results,it is found that the impact of insurance deposits and investment funds on the degree of competition changes with the level of economic development,and the impact of credit guarantee insurance on the degree of competition is affected by the level of competition.Suggestions on expanding opening to the outside world,differentiated supervision by regulatory agencies,and optimizing the product structure of insurance companies.