Analysis On The Impact Of Business Structure On The Operating Efficiency Of Property Insurance Companies

The great changes in the world that have not been seen in a century and the epidemic situation in the century are intertwined,which puts forward higher requirements for the property insurance industry to optimize resource allocation and improve operation efficiency.Meanwhile,the "dominance" of motor vehicle insurance is still a concentrated reflection of the business structure of China’s property insurance industry;The 2021 Government Work Report stressed that all types of property insurance should go hand in hand,improve the corresponding service and guarantee functions,and promote the high-quality development of China’s property insurance industry.By effectively measuring the operating efficiency of property insurance companies and exploring the mechanism of business structure adjustment on the operating efficiency of property insurance companies,this paper can better improve the operating efficiency of property insurance industry and give play to the function of "social stabilizer" of property insurance industry.This paper adopts a combination of theoretical analysis and empirical analysis.In theory,firstly,the efficiency measurement model considering unexpected output is described;Secondly,using the synergy theory and economies of scope theory,this paper analyzes the function principle of property insurance companies to expand the non-auto insurance business market on business efficiency.In the empirical aspect,firstly,for the two stages of obtaining premium and earning profit,maxdea is used to measure the efficiency of 29 property insurance companies in China from 2013 to 2020;Secondly,the operating efficiency in the profit-making stage is selected as the explanatory variable,the proportion of non auto insurance business income is selected as the explanatory variable,and the corresponding control variables are selected to build a fixed effect model,and stata16 is used to analyze the impact and action mechanism of business structure adjustment on the operating efficiency of property insurance companies.The results of this paper show that: first,compared with foreign-funded property insurance companies,Chinese property insurance companies tend to pay more attention to business than investment;Second,the fixed effect regression model shows that there is a significant positive correlation between the proportion of insurance business income and the operating efficiency of property insurance companies.This positive impact is mainly realized by driving the increase of premium income,which is more obvious in large property insurance companies;Finally,combined with the current development situation of China’s property insurance companies,this paper puts forward effective suggestions from the two aspects of business structure adjustment strategy and guiding market order,and provides some reference for the research on the development of China’s property insurance companies.