The Research On Operating Efficiency And Influence Factors Of Property Insurance Company

In recent years,property insurance industry has developed rapidly,premium income is not only high,but its growth also has been ahead of GDP growth,showing a trend of increasing year by year.However,because most of the property insurance companies only pay attention to the speed of development,blindly pursue the scale of expansion.They do not pay attention to the quality of business.It results that property insurance companies operating efficiency is generally low,the scale of return is diminishing.Operational efficiency is an important index to measure the competitiveness of the property insurance company.Therefore,it is the starting point of this paper to measure and analyze the operational efficiency of the property insurance company.First of all,based on the literature review at home and abroad,this paper takes Shandong Province as an example,and analyzes the input and output data of 15 representative property insurance companies by collecting the proportion of premium income from 2013 to 2015.We analyze the current situation of the operation of the province.The results show that the property insurance companies in Shandong Province have different degrees of improvement in terms of investment quantity,operating cost and quantity of employees,as well as output indicators such as premium income,compensation expenses and investment income.However,Low efficiency and other reasons,the business and its insurance depth and insurance density of Shandong Province property insurance compared to the national average is low,and the gap has been increased.Secondly,the DEA model is used to calculate the operating efficiency of Shandong Province property insurance.The results show that the total technical efficiency is 0.857,the pure technical efficiency is 0.921 and the scale efficiency is 0.927.From the point of view,TE,PTE and SE are declining year by year,indicating that the overall efficiency of property insurance companies in Shandong Province has gradually declined in recent years.The results of scale efficiency and scale pay further show that the scale efficiency of property insurance companies sample is not low.The size of the decline in the size of the situation,the unreasonable expansion of the size of the company is an important reason for the inefficiency of scale.Thirdly,this paper makes an empirical test on the influencing factors of the operational efficiency of Shandong Province from the macro level,the industry level and the micro level.The results show that the industry factors mainly affect the company's technical efficiency and pure technical efficiency,the company's own factors mainly affect the technical efficiency and scale efficiency.Specifically,on the one hand,the increase in the company's market share can make the company's efficiency indicators improved.If increase the company's premium growth rate,the company's pure technical efficiency and technical efficiency will slightly reduced.On the other hand,the factors such as firm size,human capital,cost level and risk management level have different effects on the scale efficiency index of the company.Finally,on the basis of summarizing the main conclusions of this paper,this paper puts forward the path to enhance the operational efficiency of Shandong Province,focusing on the need to pay attention to the management of human resources,strengthen the risk management,pay attention to improve the insurance innovation consciousness,improve the investment income level,insurance structure and further optimize the scale of efficiency.