Research On Efficiency Of Property Insurance Industry Based On Factor Analysis And DEA

As an important part of China's economy,property insurance industry plays an important role in mitigating social risks and promoting economic development.At present,China's property and insurance industry is in a rapid development stage,the scale of premiums is expanding,and the density and depth of insurance are increasing.At the same time,with the further promotion of reform and opening-up in various economic fields,domestic insurance companies are facing more and more fierce competition.However,due to the short development time of domestic property insurance industry,there is still a gap between domestic insurance companies and foreign insurance companies in developed countries in product design,customer service and other mature markets.The efficiency level of property insurance companies,as the embodiment of their core competitiveness,reflects the comprehensive strength of property insurance companies in resource allocation,cost control,profitability and other aspects,and is an important goal pursued by enterprises in the process of operation.The analysis of the overall efficiency level of China's property insurance industry and its influencing factors is of great significance for understanding the current development status of China's property insurance industry and finding ways to effectively improve the efficiency level of China's property insurance enterprises.It is also conducive to the regulatory authorities to take more practical and effective regulatory measures for the development status of China's property insurance industry.Therefore,based on the current situation of the overall development of China's property insurance industry,this paper aims to take an empirical approach to analyze the overall efficiency level of the domestic property insurance industry and its influencing factors,in order to provide reasonable and effective suggestions for improving and improving the efficiency level of the property insurance industry.The article consists of five chapters: the first chapter is the introduction,which introduces the research background and significance of this paper;the second chapter is factor analysis and DEA model construction and the definition of related concepts;the third chapter is the empirical analysis of the efficiency level of property insurance industry;the fourth chapter is the study of the influencing factors of the efficiency level of property insurance industry;the fifth chapter is the conclusion and suggestions.Based on the existing research at home and abroad,this paper uses the relevant data of China's property insurance industry from 2013 to 2017,and calculates the efficiency level of the property insurance industry through factor analysis and DEA model,and analyses the relevant factors.The results show that the overall technical efficiency of China's property insurance industry is at a low level,and the proportion of insurance companies at the forefront of efficiency is relatively low.There is no obvious matching relationship between the asset size of property insurance companies and the level of technical efficiency.On the whole,the efficiency level of China's property insurance industry is on the rise,only in a few years when the efficiency level affected by policy tightening appears more obvious.The factors such as company size,labor productivity and the proportion of highly educated employees have a significant positive correlation with the efficiency level of the company,while the factors such as operating time and market share have no significant impact on the efficiency level of the property insurance company.According to the relevant research results,this paper puts forward the following suggestions: perfecting the talent selection and inspection mechanism,taking performance output as the guide;improving the staff's educational background structure,enhancing enterprise innovation ability;maintaining appropriate scale expansion,building brand advantages;strengthening enterprise business standardization management,improving risk control system;enhancing the scientific and adaptability of industry supervision.