Research On The Impact Of Motor Vehicle Commercial Insurance Rate Reform On Small And Medium Property Insurance Companies

Since the first commercial vehicle insurance rate reform in China in 2003,the one-size-fits-all control mode and disorderly competition have intensified year by year,which has led to the high concentration of commercial auto insurance business in large and medium-sized property insurance companies.In order to further rectify the chaos in the auto insurance industry,in February 2015,our country officially opened the second round of motor vehicle commercial vehicle insurance rate reform,and constantly adjusted the pricing mechanism of commercial auto insurance premium,but caused the auto insurance industry growth to slow down,and some property insurance companies’ growth rate fluctuated greatly.The third auto insurance rate reform in March 2018 further lowered the rate floating coefficient,so that property insurance companies to obtain greater independent pricing space,effectively curb the "price war ",Return to rational management,so that consumers enjoy more reform dividends.With the further development of auto insurance rate reform,auto insurance premium discounts continue to increase,product differentiation and other issues make property insurance companies more and more fierce competition.Because the market size of small and medium-sized property insurance companies issmall and the price competitive advantage is weak,so the reform of vehicle insurance rate also brings serious challenges to small and medium-sized property insurance companies.This paper first introduces the background and course of auto insurance rate reform.By studying the actual operating data of 42 small and medium-sized property insurance companies in 2015-2018,the overall analysis and comparison of auto insurance market and related indexes of small and medium-sized property insurance companies before and after the auto insurance rate reform can be found that after the auto insurance rate reform in March 2018,the auto insurance premium income of small and medium-sized property insurance companies has increased slowly and the market share has declined rapidly.National small and medium-sized according to insurance industry associations Data in the annual financial report of property insurance company,collect and collate,use Stata measurement software to carry on statistics and analysis to 42 companies in 2015-2018,establish linear regression model to study the influence of motor vehicle commercial insurance rate reform on small and medium-sized property insurance companies.The regression results showed that the effect of the rate reform on the market share of small and medium-sized property insurance companies showed a negative correlation,and This situation has a trend of strengthening with the implementation of national policies,so further optimization measures should be taken to finally help enterprises out of the predicament.Based on the empirical analysis,this paper puts forward the optimization suggestions of small and medium-sized property insurance companies in the last chapter,and thinks that we should further stabilize the position in the market and seek survival in the competition,so as to develop healthily,from the enterprise’s own management,constantly changing the management idea,reducing the operating cost,using Internet technology to innovate the products.In general,the purpose of this paper is to give people a deeper understanding of the relationship between motor vehicle commercial insurance rate reform and small and medium-sized property insurance companies,so as to promote the development of small and medium-sized property insurance companies and strengthen people’scognition.