Research On Market Access Supervision Of Branches Of Insurance Companies In Henan Province

Insurance industry is a financial industry that manages risks.It is closely related to the development of economy and society.It is called "economic booster" and "social stabilizer",which is social and public.In recent years,with the in-depth promotion of the market economic system,China’s insurance industry has developed rapidly.On the one hand,it has helped the domestic economic and social development,on the other hand,it has effectively guaranteed the production and life of the people.In view of the importance of the insurance industry,although it belongs to the market competition industry,governments all over the world supervise it to a certain extent.In August 2014,the State Council issued several opinions on accelerating the development of modern insurance service industry,which made important strategic guidance,planning and deployment for promoting the reform and improvement of modern insurance industry on the basis of fully affirming the contribution of insurance industry.After the reform and opening up,China’s insurance industry resumed business in the 1980 s.The government insurance regulatory authorities initially established market rules and carried out industry layout,ensuring the stable development and promotion of the insurance industry.However,with the continuous development of market economy,the continued implementation of strict government supervision will cause certain obstacles to the operation of the market and form government failure.In all kinds of insurance supervision,market access supervision is the most front-end and basic,but it is very important.The supervision form of the regulatory authorities on the market access of the insurance industry is the issuance of insurance licenses,which affects the number of insurance legal person institutions and their branches in the insurance market by controlling the number of licenses.Branches are responsible for sales management of insurance business.The particularity of insurance products determines that insurance marketing is very dependent on branches.Whether we can get the legal person license of insurance institutions determines whether a market subject can enter the insurance industry,which is the beginning of all insurance businesses.The branch license of an insurance company determines the business area coverage of an insurance company.It can be said that the insurance license is the "lifeline" of an insurance company.The supervision of insurance companies’ market access is an interdisciplinary subject,involving relevant theories and research in public management,finance,economics and law.Based on the public interest theory,bimodal theory and competitive market theory,this study adopts the research methods of literature research,statistical analysis and comparative research,and takes the market access supervision of insurance company branches in Henan Province as the research object.Through the analysis of the approval and holding status of insurance licenses in China as a whole and in the branches of insurance companies in Henan Province,it is found that according to the dimension of the number of licenses held by the branches of insurance companies,The licenses of branches at or above the county level in Henan insurance industry are mainly held by large insurance companies,which are currently centralized and Oligopolistic;The insurance market below the county level(mainly in villages and towns)is highly oligopolistic,and the licenses are mainly concentrated in the hands of one or two state-owned insurance companies.County level insurance is of great significance to serve "agriculture,rural areas and farmers".However,there is still a large gap in market supply,which reflects the problems such as the vague setting of access standards for branches in China’s insurance market,the lack of effective supervision in the approval process,and the inability of access policies to meet the needs of economic development.The main reasons for these regulatory problems are that the legal system for market access of branches is imperfect,the market access supervisors are market participants,unclear regulatory objectives for market access of branches,etc.Based on the above analysis,this study puts forward suggestions to improve the market access supervision of insurance company branches:first,improve the legal system of branch access supervision;Second,start monitoring the access effect of branches;Third,steadily promote the market access of township branches.The government’s market supervision over the branches of insurance companies is related to the long-term development of the insurance industry and determines whether the insurance industry can effectively play its function.It is an urgent task for the current insurance supervision to explore the way of market access supervision of insurance company branches in line with China’s reality and the requirements of the times.