Research On The Sustainable Commercial Pension Insurance Operation Mode

Reviewing the past reform,no field has ever faced as many disputes as the field of pension insurance system.For example,the debate of the basic pension insurance system implements the pay-as-you-go system or the fund accumulation system;Or it is a big account or a small account;And whether to make personal account real,et al.If the basic pension insurance is implemented by the government’s enforcement,the pension system can still operate within a relatively determined framework through the government enforcement.With the deepening of the reform of the pension insurance system and the dramatic changes in the social operation mode in the information era,the commercial pension insurance system is facing more institutional complexity and uncertainty due to the increased market participation,and it is more necessary to find the institutional construction path suitable for the national culture and psychological behavior.This makes it a real important issue for commercial institutions to follow the institutional logic with Chinese characteristics to innovate the operation mode of commercial pension insurance and realize sustainable development.Through the reform path of the pension system in the past,the author has increasingly felt the importance of theoretical thinking and systematic thinking.In the face of these complex problems,if we are keen to pursue colorful and ever-changing surface phenomena,but can not grasp the constant nature and the law of things that stay for a long time through the ever-changing phenomenon,the reform of the pension system can only fall into the misunderstanding and still difficult to break through.The understanding of the complexity of the pension insurance system itself becomes the key to the success of the reform.To understand the essence of pension system reform through these colorful images,we need to first systematically deconstruct these complicated images and their production mechanism.The article starts from three basic concepts of the sustainable commercial pension insurance operation model: sustainability,commercial pension insurance,and operation mode,to deconstruct the complexity of the commercial pension insurance system,identify the differences and construct the logical deduction relationship between different concepts,and form three different aspects of the sustainable commercial pension insurance operation mode research.First,in the research of sustainable operation mode,focus on the difference between the traditional industrial age commercial pension insurance operation mode and the information age? The core logic it constructs is how the commercial pension insurance as a financial mechanism undertakes the connection of all parties in society can promote the sustainable operation mode.Second,in terms of research on sustainable commercial pension insurance,the work focus on the logical differences between the western and chinese’s commercial pension insurance operation mode? That puts commercial pension insurance within the framework of multi-level pension security system,explore the historical context of pension system reform on customer preferences and the constraints of future commercial pension insurance product innovation.Thirdly,in the research on operation mode of commercial pension insurance,it explores how the operation mode of commercial pension insurance operated by commercial institutions can be changed to achieve sustainable commercial value.so forming three different interpretation systems and research categories.Overall,the article summarizes these three different research aspects in terms of organization model,product model,channel delivery model and asset-liability matching model.Now no matter which side of the sustainable commercial pension insurance operation mode research is limited to the dualistic structuralism research paradigm between methodological holism and methodological individualism,Therefore,the proposals for the reform and policy recommendations of the commercial pension insurance are limited to the research scope of their respective fields,and cannot form a systematic and integrated reform of the commercial pension insurance operation model.It is an important reason why China’s commercial pension insurance has not developed.To promote the development of commercial pension insurance,we must follow the concept of system integration.With the development of the times and the shift from a company centric perspective to a customercentered value creation perspective,the dual structure research paradigm that originally existed between methodological holism and methodological individualism will inevitably be unified in the institutional analysis at the meso organizational level.Furthermore,it provides the possibility to use institutional analysis methods at the meso organizational level to analyze the synergistic evolution between various aspects.The article believes that the operational mode of commercial pension insurance is a value chain division system consisting of organizational mode,product mode,channel delivery mode,asset liability matching mode,and various business processes that cooperate with each other and are organically combined due to element exchange.There are three connotations in the internal transactions of the system: element centralized management,element support carrier,and element exchange management.Among them,the element support carriers include the organizational mode(department),product mode(department),channel delivery mode(department),and asset liability matching mode(department)mentioned above.Element exchange management refers to the exchange management of assets,funds,information,manpower and other elements between different modes(departments)due to business operation needs,involving the mutual assistance functions of commercial pension insurance in the same time,space.Element centralized management refers to the centralized management process of the remaining elements generated by transactions between various departments at the system level,which involves the financial function exertion of the intergenerational mutual assistance in commercial pension insurance.The original understanding was limited to the internal operational processes analysis in organizational,product,channel delivery,and asset liability matching modes.However,in order to form a comprehensive understanding of commercial pension insurance operational mode,it is necessary to expand from the original analysis of internal operational processes to the interactions analysis between various modes,.And in this process,the transformation of the organizational model plays an important intermediary role,because the function of the system is completed through the organization and realized through the organizational mode.Correspondingly,the article takes the elements supporting at the mesoorganizational level as an important entry point for analysis,and applies the three major schools of new institutionalism,such as historical institutionalism,social constructivism institutionalism,rational choice institutionalism separately analyzes the organization mode,product mode,Channel delivery mode,the asset liability matching mode of commercial peension insurance in the information era.and clarify the interactive relationship between the constituent elements,constructing a theoretical model of sustainable commercial pension insurance operation mode.The contribution of the article is using three major schools of new institutionalism to analyze the various components collaborative evolution of the commercial pension insurance’s operation mode,and pointing out that the intergenerational mutual assistance function of the commercial pension insurance operation mode(i.e.the function of expanding to the Time Bank dimension)is the key to solve the current structural problems existing in organizational mode,product mode,and channel delivery mode and asset liability matching mode.Pointing out that proposing that the value loss of the previous commercial pension insurance operation mode did not come from a certain part,but rather from each component,resulting in a systematic imbalance of commercial pension insurance operation mode.Therefore,only through the coordinated reform of organizational mode,product mode,channel delivery mode,and asset liability matching mode can promote the sustainable development of commercial pension insurance.At the same time,the research conclusion of the article also have important implications for solving the current problem of wealth gap in society.The root cause of the wealth gap in the industrial era lies in the internal binary structure analysis of organizational departments,product departments,channel delivery departments,and asset liability matching departments,Extending the analysis paradigm of the binary structure analysis within each department to the operational processes between departments(i.e.the level of intergenerational mutual assistance in commercial pension insurance)will inevitably inject more humanized care into the previous simple perspective of maximizing economic benefits,which helps to solve the problem of excessive wealth gap in society.At the same time,this is also the significance of the sustainable commercial pension insurance operation mode.