Study On Operating Efficiency And Influencing Factors Of Property Insurance Companies In China

As one of the means of risk management in various industries,insurance gives full play to its guarantee function,which is of great significance to the development of economy.In recent years,China ’s property insurance industry has shown a rapid growth trend,and the market scale has been expanding.In this case,the CBRC has put forward higher requirements for the property insurance industry,trying to build it into a " shock absorber " in the economic field and a " stabilizer " for social stability,and promote high-quality development in this field.In addition,China ’s continuous improvement of the openness of the insurance industry has brought opportunities and challenges to the development of the property insurance industry.Therefore,it is of practical significance to explore the operating efficiency of property insurance companies,find possible problems,and find ways to improve operating efficiency.This thesis reviews the relevant literature at home and abroad,and uses the window SBM model to measure the operating efficiency of 40 Chinese and foreign property insurance companies in China except Hong Kong,Macao and Taiwan from 2015 to 2020.The study found that the operating efficiency of China ’s property insurance companies is not high,and the comprehensive technical efficiency of Chinese-funded property insurance companies is higher than that of foreign-funded property insurance companies.Then,the Tobit model is used to empirically test the influencing factors of the operating efficiency of property insurance companies.It is found that the quality of employees and return on investment of property insurance companies have a significant positive impact on operating efficiency.The operating cost rate has a significant negative impact on operating efficiency.The compensation rate has no significant impact on pure technical efficiency,but has a significant positive impact on comprehensive technical efficiency and scale efficiency.Finally,according to the results of empirical research,five suggestions are put forward :strengthening the professional construction of the team and improving the quality of employees;adjust asset allocation and play the role of social stabilizer;control the operating expense rate,reduce operating costs;optimize product structure and achieve product diversification;optimize the industry structure and guide reasonable competition.