Study On Factors Influencing The Efficiency Of Property Insurance Companies Under The Background Of Internet

Insurance industry is one of the carriages of modern finance and plays an important role in China's economic construction and social security.As an important part of the insurance industry,property insurance has developed rapidly in recent years.the insurance model of "Internet + property insurance" has been widely used.On one hand,traditional property insurance companies are actively engaged in Internet property insurance business and establish new online marketing channels.On the other hand,Internet giants entered the insurance industry and established a professional Internet property insurance company represented by zhongan insurance.The efficient operation of property insurance companies is not only related to the development of the company,but also related to social stability.It is of practical significance to study which factors will affect the operation efficiency of property insurance companies.This paper will focus on traditional endogenous factors and emerging Internet factors.In the theoretical research,this paper expounds the operational efficiency evaluation theory and the influencing factor theory of property insurance companies respectively,selecting methods and hypotheses for the empirical research in the following part.In the empirical study,this paper selected the traditional property insurance companies ranked in the top 20 in 2017 and the only four professional Internet property insurance companies at present.Firstly,DEA model was used to analyze the static efficiency of 24 property insurance companies from 2014 to 2017.The efficiency evaluation results show that In the four years,ping an,guoshou and yi 'an insurance maintain the optimal efficiency,professional Internet property insurance companies have certain advantages in technical efficiency,and traditional property insurance companies have obvious advantages in scale efficiency.Secondly,this paper uses Tobit model to conduct regression analysis on the factors affecting the operating efficiency.The results show that: operating expense ratio,business concentration,Internet insurance specialization degree,and the presence or absence of Internet shareholders have a significant impact on the efficiency of property insurance companies.Finally,this paper makes Suggestions to improve the operating efficiency of property insurance companies in China.The academic significance of this paper: with the rapid development of Internet finance,this paper focuses on the Internet when studying the factors affecting the operating efficiency of property insurance companies,and enriches the relative academic achievements.The practical significance of this paper lies in: empirical results prove that the mode of "Internet + insurance" can effectively improve the operating efficiency of property insurance companies,Which can improve their competitiveness by actively "Internet" and strengthening cooperation with Internet enterprises.In addition,they can also improve operating efficiency by shrinking business direction and Absorbing high-quality talents.