Research On The Development Strategy Of China’s Small And Medium Property Insurance Company Under The Trend Of The Comprehensive Financial Management

The periodic law of t he development of gl obal financial industry has be en “development, prosperity, crisis” in the past few decades, developing from the mixed operation(the primary comprehensive management) to the separate operation, and then from the separate operation to the modern comprehensive management. From the point of the present situation of financial development, comprehensive management is stil l the trend of the financial industry in the f uture, although it h as experienced many changes. China’s financial industry, though started late, but also experienced a cycle of “development, prosperity, crisis”. After the initial development of a few y ears, the development of domestic financial industry has tended to standardization and stability. China’s insurance market has been rapid healthy development. In the view of successful experiences of comprehensive management from some international financial institutions, comprehensive management of the m ainstream is the establishment of fi nancial holding companies, but also the main force in promoting the comprehensive management is ban ks and insurance groups. Since the “eleven-five” plan put forward to “ push on the comprehensive management pilot of the financial industry steadily ”, the organization structure of China’s financial industry is gradually changing. Banking, insurance groups and other institutions have expanded operations into other areas. Different forms of finan cial holding companies have also set up. Large cross-industry groups are also increasing. The cross financial products and services developed rapidly. In the insurance market, after large insurance companies to carry out comprehensive management, many small and medium insurance companies’ survival space are further squeezed. How to survive and develop in this brutal oligopoly competition on the market is a pressing problem.Comprehensive management is the trend of future development of the financial industry. Since the integrated financial management philosophy appeared and gradually developed, the international and domestic financial groups are steadily advancing their own integration process. Domestic and foreign scholars have being in the study of how the major financial groups achieve their goals and strategies in the trend of financial comprehensive management, where banks, large insurance companies and other financial institutions are the main object. Research on small and medium insurance company is limited in how to survive in the entire insurance market as well as the financial market. There are few researches involved in middle and small insurance companies to the trend in the overall financial operations development.This article is based on the background of comprehensive financial management, reviews the international and domestic development course of the comprehensive financial management, analyses several mainstream comprehensive management mode contrastively, subdivides China’s property insurance market, takes the small and medium property insurance company in our country as the research object, constructs a comprehensive management evaluation, analyses some important financial datas related to operating conditions and overall business conditions of small and medium property insurance companies in the application of accounting theory, uses SWOT to analyse the development status of the small company’s property finally. It summarizes advantages of many small and medium property insurance companies to carry out the comprehensive management-- the company is small in size, but its shareholders are strong; company management system is sim ple and res ponse fast, de cision-making is flexible. And product structure is irrational; lacking of cross-sector financial products and comprehensive management of human resources, and internal control mechanisms are weak; c omprehensive management cause the risk to pass easily; and other outstanding issues. China’s small and medium property insurance company must rely on their shareholders’ advantages, develop in the shareholders’ comprehensive management framework. Around the core competence of i nsurance, small and medium property insurance company take the differentiate competition and professional operation. On the premise of the professional management level promotion, they should actively carry out comprehensive management, to attract high-quality investment, using their shareholders’ and its subsidiaries’ and other resources reasonably, strengthening the cooperation with other companies to achieve complementary advantages. And on this basis, it puts forward some strategies for the small and medium property insurance company that how to survive and develop in the trend of the comprehensive management, suggesting that they should seize regulatory support, perfect laws and regulations and industry competition environment improvement opportunities, choose right partner selection and cooperation, combine with their own advantages, push out differentiated products and integrated services, strengthen the association between other institutions, actively participate in t he comprehensive management of the wave for survival and development.Starting from the c haracteristics of comprehensive management, and combining the characteristics of C hina’s small and medium property insurance companies, creatively constructing the evaluation index of comprehensive business development by combining qualitative and quantitative ways, combining with a variety of research m ethods, using the accounting theory, according to the number of financial indicators to reflect the development status of small and medium property insurance company, with the analysis of SWOT model, using the theory and method of strategic competition to carry on the comprehensive analysis and conclusions, this article not only enriches the theory research, but a lso gives many small and m edium property insurance company suggestions on how to develop comprehensive management. However, this article also has many shortcomings. It can not go on the research through the actual inspection to do more realistic research. At the same time, the small and medium property insurance company is t oo many to collect all of the data to be analyzed, and the evaluation index of the comprehensive management is the original, which is not under experts’ and scholars’ consideration. Therefore the content may be rational but not reasonable with some certain limitations, which needs experts’ elegant.