Pricing Strategies T Company Property Damage Insurance Products

Property damage insurance refers to a variety of tangible property is the the insurance subject of property insurance. The kind of business which mainly include:homeowners insurance, commercial property insurance, engineering insurance, agricultural insurance, aircraft insurance, vehicles insurance, cargo insurance and special risk insurance and other types. Property damage insurance property insurance company tradition, one of the important types of insurance. Due to the unique vehicle insurance regulators and insurance companies operating in the Chinese insurance market, the property damage insurance property in addition to vehicle insurance.The characteristics of the property damage insurance products are:1. Insurance is the subject of various physical forms of property.2. The nature of the business organization of economic compensation.3. Operating complexity4. Each single independent insurance relationship with inequality.Relative to vehicle insurance, property damage insurance there are two prominent features:1. The social impact of the coverage is small, the impact on the public interest, the low level of public understanding.2. Customer demand for diversity determines insurance terms that protect the diversity of most types of insurance difficult to achieve scale underwriting requirements of the law of large numbers.The level of development of the property insurance market is much lower than the level of the international market, and low awareness of the public insurance, lower level of the operation and management of insurance companies in the world. To catch up with the process of the development of the world’s insurance industry, property damage insurance in China is in the development process from monopoly to competition.Market supervision, the premium rate regulatory system reform in2003, ushered in the property insurance market innovation. Insurance company before this is the implementation of a unified national regulatory authorities to develop insurance products (including price). In the insurance prices independently developed by the market nearly a decade, the insurance company has experienced the insurance pricing management from scratch, the process of learning from mistakes.Insurance level of development and market structure determines the current and future period of time, price competition is still the most important part of the insurance competition. Even after nearly a decade of constant exploration, the insurance company in terms of property damage insurance product pricing has accumulated some experience, but the CD actuarial theory and pricing randomness phenomenon appear alternately in the pricing process of the insurance company, insurance companies, cost, demand and The competition is not enough depth and detail, yet the formation of mature, scientific pricing system.Insurance pricing due to the risk of uncertainty and risk to operating in a certain time lag characteristics, if not mature pricing management system dictate prices is likely to result in the loss of cumulative risk outbreak and difficult to save. The insurance pricing Studies insurance development is very necessary and urgent.Vehicle insurance terms and rates due to the greater public impact, and basically perform the industry to develop a unified unified (ie as prices). Property damage insurance products in addition to outside the vehicle insurance also went to some of the industry regulatory product, but a wide range of various insurance companies to develop their own products more prominent phenomenon of product pricing randomness. In the systematic study of the practical aspects of property damage insurance product pricing less.This article will select the author in the work of the T property insurance company for a long time for objects around the property damage insurance product pricing strategy, combined with the T property insurance company pricing objectives, pricing strategy to determine pricing principles, methods of induction-related factors, drawing on the theory of domestic and international non-marine insurance product pricing strategy, using a combination of theoretical and field studies to analyze the existing problems in its pricing strategy, and to draw on the strengths, propose appropriate improvements and summarizes some of reference by other similar enterprisesOffice.