Research On Risk Management And Monitoring Of Property Insurance Companies Based On Factor Analysis

The insurance industry is a high-risk industry, operating at greater risk. Property insurance companies bear the risk of the insured, their need to guard against and defuse the risk of, property insurance companies risk management more difficult. Property insurance companies of "safety, liquidity and profitability" business objectives and operating principles is reflected to effectively identify, evaluate risks faced by property insurance companies. Establishment of early warning and prevention mechanism, it means a lot not only for property insurance companies, and enhance competitiveness, improve insurance markets, increase operating efficiency, promote China's insurance market and promote the healthy development of the insurance industry is of great practical significance.Related literature in the area of fundamental research at home and abroad, remains of General cognitive frameworks, lack of awareness of the risk factors, the nature and characteristics. In the area of risk management, internal research focus on solvency and asset liability management, the lack of studies of other risk factors. In the area of risk management models, lack of systematic modeling of risk management mechanisms. In terms of risk control, existing literature concerning theoretical, conceptual study of enterprise risk management, risk control research, lack of risk early-warning and comprehensive research on the supporting platform of the control decisions. Based on systematic risk factors described on the basis of empirical analysis of insurance risk management, proposed the establishment of risk early-warning system and the implementation of a comprehensive risk management measures, and hopes to further deepen the study on risk management. Using the method of factor analysis, research on Chinese property insurance companies risk management system, hoping to solve the problems facing the insurance industry, property insurance companies provide reliable methods for risk management and risk research.First, we analyze the property insurance risk classification, risk identification, risk control, property insurance companies faced risks into strategic risks, earnings risks, underwriting risks, operation risks four categories, building of a property insurance company risk monitoring index system. Then, using a sample of 35 major property-casualty insurance company financial data, analyzed by factor analysis method in which 13 indicators, research the company's risk management and its ranking in the industry, and identify gaps. The analysis results show, property insurance companies risk management through risk monitoring indicators, risk management level is lower than the industry average of majority of property insurance companies, China's property insurance risk management also needs to be strengthened. Finally, the proposed risk management measures based on analysis results, the company can take the following measures to improve its risk management:improving the legal system and information disclosure system; establishment of risk warning systems strengthening underwriting claims control, strengthen financial management; the establishment of a comprehensive risk management culture. Wish on China's property insurance companies prevent and resolve and risk management capabilities provide references.