Study On Development Of Beijing Small And Medium-sized Insurance Company

Recently Beijing insurance industry grows rapidly: the insurance business scale keep expanding and the market participants keep increasing. In facing the various demands from customers, the function of insurance loss compensation and risking management are still under development. The organic growth of small and medium‐sized insurance companies is a necessary premise of motivating the enterprise innovation ability, offering ample insurance service and products to customers and the power of sustainable development of insurance industry.The fast growth of Beijing insurance company leads to a surging emergence of small and medium‐sized companies, but it does not break the oligopoly market structure, however, result in disorderly completion within the small and medium‐sized companies. The development of small and medium‐sized insurance company is now a crucial factor of steady development of Beijing insurance industry. As things stand there are some real problems obstructing the growth of Beijing small and medium‐sized company, such as unclear leading strategy, homogenous business, lack of self‐innovation ability, featureless marketing system, weak basic management, and etc..The paper summarizes the mutual problems of small and medium‐sized insurance companies. In addition, according to the disparity of different types of company, it mainly analyses the problems and reasons of the “market follower” and “stagnation” types of company, with the study of small and medium‐sized insurance companies’ development pathway in the United States. On this basis, the paper offers the policy suggestions on how to boost small and medium‐sized companies’ sustained and healthy development from the three perspectives from regulatory administration, insurance company and professional association.