| As China's leading insurance, the volume of auto insurance has been in absolute dominance. Especially after the carrying-out of compulsory traffic accident liability insurance regulations, the auto insurance has been through a spurt of development. Since 2001 China has joined the WTO, to comply with the requirements of further market opening, China's commercial motor vehicle insurance market has carried out a series of market-oriented reforms, with remarkable results, but also worries constantly.2016, a new round of commercial insurance market reforms formally implemented in the country, now, has had a huge impact.As an important component of the financial markets, the auto insurance market follow the same basic economic principles of supply and demand theory, competition theory, value theory, but due to their special attributes, out of the market and consumer-protection, most governments around the world appeared in the case of intervention in the auto insurance market. But now. from the auto insurance market worldwide, developed countries and regions insurance markets like the US, EU, Japan, Taiwan, have experienced a vehicle insurance market-oriented reform, less government intervention in the case of motor vehicles Insurance. Although the commercial-motor-vehicle-insurance-market-oriented reform has experienced several ups and downs, twists and turns, but the trend has never changed.Experienced more than ten years of vehicle insurance market reform, there are still excessive competition situation in China's commercial motor vehicle insurance market at present, the industry has high operating cost issues triggered by the price war. Based on this, by studying the factors that affect the business of motor vehicle insurance market competition, this article gives the corresponding risk internal control program from a risk-management perspective.Based on the background, this article mainly follows the following aspects:This paper is divided into six chapters, the first chapter as introduction part introduces the background and significance of this paper. First, market-oriented reform of China motor vehicle commercial insurance were reviewed; relevant literature on motor vehicle and commercial insurance market reforms at home and abroad were reviewed, noted achievements and shortcomings of existing research. Research methods and highlights of this paper are given, as well as the framework, advantages and disadvantages of this article.The second chapter is the theoretical basis of the relevant presentation. First, this chapter explains the basic connotation of risk management theory, and make a summary and interpretation of risk and risk management concept and characteristics; next, gives what the theory of risk management can do in the commercial motor vehicle insurance market competition; Finally, this chapter describes the internal control theory, showing the theoretical framework of internal control, internal control analysis features, and points out the theory of internal control in this study can play a role with the combination of risk management theory, that a solution to the problem of how to apply.The third chapter analyzes the competitive landscape of the commercial motor vehicle insurance market and risk. In this part, this paper review on the development process of the commercial motor vehicle insurance market, then introduces the types of commercial motor vehicle insurance, and on this basis, analyzes the current situation of business auto insurance market, and finally analyzes the current motor vehicle insurance competitive methods and their respective impacts.The fourth chapter analyzes all aspects of the commercial motor vehicle insurance business risks such as underwriting, claims, pricing, financial aspects and the risks when the insurance company faces carrying out insurance business. And then analyzes the root causes of the risks, preparing for the next chapter.The fifth chapter propose appropriate risk control program from two aspects of risk control of insurance companies:the external market environment and insurance business sectors. Market risk control propose appropriate risk management strategies from three aspects:industry associations, regulatory bodies, relevant laws and regulations; internal control strategies propose five aspects of the risk control of insurance companies selling, underwriting, claims, pricing, and financial, and the corresponding risk internal control strategies.Chapter six as the last part of this paper are summarized above in connection with two conclusions:First, the presence of fierce competition has bad effect over the commercial motor vehicle insurance market, there is a huge pressure on the survival of small and medium insurance companies; the second is risk management over external environment and internal business can make the market competition more appropriate.The innovation of this thesis, mainly in the following two aspects:First, in combination with motor vehicle insurance development, explore the negative effects of excessive competition in commercial insurance motor vehicle insurance companies. Pick up the risks from the commercial insurance pricing, claiming, financial sectors in order to obtain a method to enhance internal control.Second, the paper combines the contents of 2015 commercial motor vehicle insurance rates market-oriented reforms. Standing on small insurance companies' view, analyze the negative impact of market-oriented reforms to them, and give them advice to improve internal controls as metioned.However, this article still has some drawbacks. It will be better to carry out in subsequent research on the effectiveness of the commercial insurance market reforms over empirical research compared to see which reform program has a positive impact, which has a negative impact. Moreover, for market-oriented-rate reform is the most important in market-oriented reforms, how to establish a rating system with its own characteristics will need to be solved in the future for a long period of time. |
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