Research On The Operating Efficiency And Influencing Factors Of China's Insurance Brokerage Companies

In 2018,China's insurance industry ushered in a new era with the theme of "transformation" and "opening".The pattern of the entire industry has undergone profound changes.The reform of the insurance intermediary market has continued to deepen."Internet +" has promoted the diversification of insurance sales models and foreign investment.The business scope of insurance brokerage institutions has been further liberalized and the competition in the insurance brokerage market has become increasingly fierce.Insurance brokerage companies play an important role in promoting the formation of insurance relations,safeguarding the interests of policyholders,standardizing the operation of the insurance market and improving the structure of the insurance market,improving the economic benefits of insurance companies,and enhancing the competitiveness of insurance companies.They are also important bridges in the insurance intermediary market.link.The operating efficiency can reflect the competitiveness and sustainable development of insurance brokerage companies.Its efficiency value is an important measure of a company 's operating performance,and its size reflects the degree of insurance brokerage company 's resource utilization and overall operating conditions.Therefore,the research on the operating efficiency of insurance brokers is extremely important.Specifically,this paper first summarizes the relevant research on the operating efficiency of domestic and foreign insurance brokerage companies.After defining the concept of the operating efficiency of insurance brokerage companies,it combs the relevant efficiency theories,and introduces the current operating status of insurance brokerage companies in China,and determines the operation.The efficiency measurement method forms the theoretical basis of the research problem in this paper,and on this basis,three input indicators,two output indicators and three environmental variable indicators are selected,an efficiency evaluation system is established,and then a three-stage DEA-Tobit model is adopted Measure and analyze the efficiency and influencing factors of 15 insurance brokerage companies in China from 2014 to 2018.The conclusions are as follows:(1)The comprehensive efficiency level of China's insurance brokerage companies is not high,showing a dynamic trend in the past five years,the overall efficiency level has not continued to improve,and the differences between different companies are large;the pure technical efficiency level is high,There is littledifference between different companies;scale efficiency is relatively low,and there is a clear stratification.(2)The three-stage DEA model can effectively remove the influence of environmental factors and random error factors on the efficiency of insurance brokerage companies,can objectively and truly measure the efficiency level of China's insurance brokerage companies,and obtain more accurate efficiency results than traditional DEA models.(3)Before the adjustment,the comprehensive technical efficiency and pure technical efficiency of China's insurance brokerage companies were underestimated.The average value of scale efficiency did not change much before and after the adjustment.The change in efficiency was mainly caused by the influence of environmental factors and random factors on pure technical efficiency.Finally,this article takes into account the level of macroeconomic development,comprehensively examines the factors that affect the operating efficiency of insurance brokerage companies,and uses the Tobit model for analysis.According to the empirical results,this article proposes countermeasures to improve the operating efficiency of China's insurance brokerage companies from two aspects: macro industry development environment and micro corporate governance,including optimizing the industry environment,transforming business concepts,optimizing talent and resource allocation,and innovating business models.