China's Motor Vehicle Insurance Market Analysis

Commercial insurance is the most important social insurance supplement, in social and economic development has a special status and important role. China's insurance industry in the last two decades had made great progress, but there are some inadequacies and drawbacks. With China's accession to the World Trade Organization WTO, multinational corporations into China's large-scale cultivation of this fertile land will be the inevitable trend of future development. From insurance industry, the opening up of the timetable has been developed greatly accelerate the pace of opening up foreign Insurance will soon be able to enjoy national treatment, China's insurance market more than 20 years of the formation of an oligopoly structure has been broken, new patterns of competition have been highlighted, the Chinese insurance industry will face unprecedented opportunities and challenges.Join the WTO, China's insurance industry mean that a comprehensive insurance system with the international standards, China's insurance companies with foreign insurance companies on the insurance market in the world face-to-face competition. However, vis-à-vis developed countries in terms of development level of the insurance industry, China the insurance industry is still in the very low level. especially in the wake of the rapid development of the national economy, China's rapid growth in the number of motor vehicles, motor vehicle insurance in the national economy playing an increasingly important role, in recent years has accounted for its premium income of property insurance premium income of more than 60% has become the leading insurance and property insurance company. Auto insurance a direct impact on the operation of the entire company's development, various types of insurance companies to adjust structure, focus still on auto insurance. Auto insurance industry is operating at a loss, and the impact of the normal operation of the auto insurance market irregularities have occurred, after market auto insurance rates resulting from low rates, high fees for the characteristics of the market price of our country full of vicious competition auto insurance markets, payment rates are too high at the same time, bad credit auto insurance market is worrying acts, insurance companies keep internal control mechanism, insurance regulation and the imperfect laws and regulations, etc., these motor vehicles on China's healthy development of insurance industry have had a bad impact.Therefore, integration in the global situation, China's insurance industry should focus on current problems, and actively explore the development of the insurance industry response, as soon as possible with the developed countries to reduce the level of development of the insurance industry the gap and improve China's insurance industry competitiveness in the international market.The full text is divided into four chapters. The first chapter introduces the meaning of the insurance, as well as an overview of Marx's insurance, and introduced the meaning of motor vehicle insurance, as well as strong cross-risk, basic insurance and additional insurance, etc., are also aware of China's motor vehicle insurance market trajectory of development so that our motor vehicle insurance with more in-depth understanding of its important role more clearly. The second chapter analyzes the major motor vehicle insurance market in the status quo, as well as the existence of competition in the market, but also more difficult aspects of insurance supervision, and from China's motor vehicle insurance market trends are analyzed in Chapter III of the United Kingdom, the United States and Hong Kong's motor vehicle insurance market analysis, so that China's motor vehicle insurance operations draw on a lot of experience, such as "strong cross-risk" launch of the rate of market-oriented reforms and so on, but as a result of motor vehicle insurance market in China or an emerging market, the need to study and learn from a lot of places. Domestic insurance companies have to simplify the claims process, claims relaxed environment. Correct services, expand service channels. At the same time, the insurance companies but also new services, follow the "people-oriented and service-oriented" market principles of price competition from products and services towards the competition, to meet the challenges in the auto insurance business at the same time, auto insurance services should be gradually maturing. Chapter IV of the main response to China's current motor vehicle insurance market problem in the status quo and put forward ideas and measures to improve the ability of insurance companies operating control, insurance regulation, expand the marketing model, innovative model of insurance services to enhance the core competitiveness put forward five proposals, in particular, control of insurance companies and auto insurance business innovation capability is sustained, healthy development is the need for changes in market demand, but also after accession to WTO the highly competitive auto insurance needs.As China's Motor Car community to maintain the rapid growth in motor vehicle insurance has grown in strength and size. How to motor vehicle insurance, adhere to both the speed and efficiency, strengthening management, and reduce auto insurance payment rates, both to maintain a good pace of development and continuously improve their own economic benefit, of great significance for the insurance companies. This shows that China's motor vehicle insurance market research and analysis has important theoretical and practical significance.