Research On Management Performance Of Property Insurance Companies Based On DEA-Malmquist Method

Since the restoration of domestic insurance in 1980,China's insurance industry has entered a stage of rapid growth.The premium income increased from 460 million yuan in 1980 to 3.66 trillion yuan in 2017,with an annual growth rate of 20 to 30 percent,far higher than the growth rate of GDP in the same period,and achieved brilliant achievements.New insurance companies are springing up like mushrooms.From one insurance company in 1980 to 170 at the end of 2017,the competition in the insurance industry is becoming increasingly fierce.However,despite the rapid growth of China's insurance industry,it has long paid attention to premium growth rate and scale,but neglected operating performance,and its operating efficiency is relatively backward compared with that of insurance companies in developed countries.Operating performance is the key to the success of insurance companies in the increasingly fierce industry competition,is the comprehensive embodiment of the competitiveness of insurance companies,the evaluation of the operating performance of insurance companies can make them develop strengths and circumvent weaknesses,improve the operating efficiency,the pursuit of efficient growth rather than high-speed growth.This paper in the literature review of domestic and foreign scholars,on the basis of comparative analysis of performance analysis method of data envelopment analysis(DEA)and Malmquist index method,from the perspective of the combination of static and dynamic,with 28 property insurers as investigation object,based on the panel data from 2012 to 2016,build the number of employees,paid-in capital,cost,fixed assets of four input indexes,premiurm income and investment income of two output indicators of evaluation system,calculate and analysis the operational efficiency of 28 home insurance company,in the end the following conclusions:First,the operating efficiency of China's property insurance companies is directly proportional to the scale of assets and operating life;Second,the overall efficiency of Chinese property insurance is better than that of foreign property insurance,and it is more affected by the reform of commercial auto insurance premium rate.Third,from 2012 to 2016,the efficiency of China's property insurance companies has been steadily improving,and technological innovation has become the next growth point.