Research On The Influence Of Insurance Technology On The Operating Efficiency Of Life Insurance Companies In China

With the wide application of science and technology in the insurance industry,the trend of deeply enabling the insurance industry by science and technology is obvious.Insurance technology is profoundly changing the insurance industry.As an important pillar of the insurance industry,life insurance technology also plays an important role.Therefore,in this context,analyze whether the application of science and technology has an impact on the operating performance of life insurance companies and what role? This paper analyzes the life insurance companies with different equity-Chinese funded and foreign-funded life insurance companies,and analyzes whether there are differences in the operating efficiency of insurance technology between them?Based on the relevant data of 49 Life Insurance Company in China from 2012 to 2019,the paper adopts a combination of qualitative and quantitative research to demonstrate.Firstly,the comprehensive technical efficiency of life insurance companies from 2012 to2019 is calculated by using DEA-BBC model and used as the explanatory variable,which lays the foundation for the following empirical analysis.Then,the development level of insurance technology is measured by multiplying the weight of premium income of sample companies by the average insurance technology development index.Finally,the impact effect of insurance technology on the comprehensive technical efficiency of life insurance companies in China is calculated by Tobit model,the development of insurance technology in the operating efficiency of Chinese and foreign life insurance companies,and makes a comparative analysis between them.The results show that: first,the application of insurance technology has a positive impact on the operating efficiency of China’s life insurance companies,that is,through insurance technology,it is conducive to reduce operating costs and improve operating efficiency to a certain extent;Second,through the comparative analysis of Chinese and foreign life insurance companies,it is found that the impact of insurance technology on Chinese life insurance companies is greater than that of foreign life insurance companies.Through the above research,it is found that science and technology plays a positive and significant role in improving the operating performance of life insurance companies,and compared with foreign capital,science and technology has a greater impact on the efficiency of Chinese capital.Finally,the theoretical basis and empirical results of the previous paper are different.