Research On Performance Evaluation Index System Of Insurance Enterprises Based On ESG Concept

ESG stands for environment,society and corporate governance.With the policy of carbon neutrality,peak carbon dioxide emissions and double carbon target being put forward,ESG concept has attracted more and more public attention.Using ESG for performance evaluation can measure the company’s achievements in three aspects: environment,society and corporate governance.At present,more and more listed companies begin to disclose their ESG reports voluntarily under the tightening of policies and the attention of investors.Different from the general industry,the insurance industry is a combination of risk managers,risk takers and major investors,and is in a special position to promote the sustainable development of economy,society and environment.Driven by policies such as green finance and sustainable insurance principles,it is difficult for insurance companies to evaluate their performance only by financial indicators to meet the needs of the transformation and upgrading of the insurance industry.Therefore,the insurance industry urgently needs to establish a set of performance evaluation index system to measure the company’s efforts in environmental,social and social responsibilities,so as to promote the green and high-quality development of the insurance industry.Based on the above background,this paper analyzes the existing problems in the performance evaluation of the insurance industry on the basis of combing the relevant theories and ESG policies,and finds that the comparability of financial information is affected by the disconnection between policy and practice performance evaluation indicators.In addition,the company pays too much attention to financial information,and the application of ESG is obviously insufficient.At the same time,it explains the necessity and feasibility of applying ESG to performance evaluation in insurance industry from many aspects,and emphasizes the rationality of incorporating ESG indicators into performance evaluation indicators.By combining the domestic and foreign ESG performance evaluation indicators,the current performance evaluation indicators of the insurance industry and selfinvestigation interviews,a set of performance evaluation index system of the insurance industry based on ESG concept is designed to measure the achievements of the insurance industry in four dimensions: environment,society,corporate governance and finance.In this paper,a representative company in the insurance industry is selected as the object of case study,and the relevant data of company A from 2017 to 2021 are selected for longitudinal analysis.The scores of company A in various dimensions are determined by combining the subjective and objective methods with AHP and CRITIC,and the evaluation and analysis are made,and some targeted suggestions are put forward.This paper creatively designs a set of ESG performance evaluation index system for insurance industry.At present,there is no unified standard for ESG performance evaluation system in China,so there is no ESG performance evaluation system for insurance industry.At present,ESG is mostly implemented and disclosed according to the sustainable development goals of the United Nations,and there are some problems such as unclear and incomplete disclosure,which affects the comparability of information.Under the guidance of ESG concept,this paper combines financial indicators with ESG indicators,selects insurance company A as a case study,analyzes its performance in an all-round way according to the designed indicator system,infers the existing problems of company A,and then puts forward corresponding suggestions,which is of positive significance for promoting the transformation and upgrading of insurance industry and the application process of ESG.