Research On How Critical Illness Insurance Influence Financial Competitiveness Of Life Insurance In China

In recent years,the insurance industry has developed rapidly and the demand for people’s insurance has increased.As a kind of guarantee financial product,the critical illness insurance product is different from ordinary physical goods and tends to be an investment and wealth management product.As a financial company that protects people’s livelihood,life insurance companies should better serve the people during this period,and develop and produce critical illness products that benefit people’s livelihood.This paper uses accounting methods to study the financial competitiveness of life insurance companies,and combines my understanding of critical illness insurance products in life insurance companies to explore the impact of critical illness insurance products on the financial competitiveness of life insurance companies.By clarifying the impact mechanism between the two,we can find ways to help life insurance companies improve their overall competitiveness and social responsibility,provide consumers with new ideas for purchasing critical illness insurance products,and offer advice and suggestions for the country’s development of the insurance industry.China’s road to national rejuvenation adds protection.This paper mainly uses literature analysis method,case study method and qualitative and quantitative research methods to conduct research.Firstly,the relevant literatures at home and abroad are summarized and combed,and the strategic management theory,enterprise competence theory,economic man theory and information asymmetry theory are taken as the theoretical support of the research.Secondly,the appropriate indicators are selected to construct the financial competitiveness of life insurance companies.Evaluation system and critical illness product evaluation system.Among them,the financial competitiveness of life insurance companies is divided into 16 indicators: profitability,solvency,and development capability.For the critical illness insurance products,only the product rate is selected as a single indicator;then 15 domestic life insurance companies are selected.And its core critical illness insurance products as a sample,extract relevant information from the public information disclosure report of each life insurancecompany’s official website,conduct data analysis,use factor analysis method to obtain the specific score of life insurance company’s financial competitiveness,and use correlation analysis The impact of critical illness insurance products on the financial competitiveness of life insurance companies.Finally,through the research on the impact mechanism between the critical illness insurance products and the financial competitiveness of life insurance companies,the life insurance companies,consumers and the government are provided with corresponding suggestions.The conclusions of the research obtained in this paper are as follows:(1)At this stage,the profitability and development ability will be significantly affected by the financial competitiveness of life insurance companies;(2)The strength of financial competitiveness and the brand of the enterprise are obviously positive.Correlation;(3)Small life insurance companies have low rates of critical illness insurance products.It is likely that the company’s management ability is not high,resulting in low cost of critical illness insurance products,and it can give consumers more room for profit.(4)The financial competitiveness of life insurance companies’ life insurance products and life insurance companies is mutually reinforcing and spiraling.