Research On The Development Of Mutual Insurance In China

Mutual insurance is the original format of the insurance industry,with its institutional advantages of risk protection as the core concept of development for thousands of years,it is still the mainstream organizational form in the international insurance market.Throughout the history of mutual insurance development,every wave of mutualization is bound to be accompanied by an unstable international environment.At present,China has entered a stage of high-quality development,but the problem of unbalanced and insufficient development is still prominent.At the same time,China’s development is also subject to a complex and changeable international environment,and the Sino-US trade war and the ongoing epidemic have triggered a weak domestic economy.Based on this background,the state has repeatedly issued documents to support the development of mutual insurance norms and conservative innovation.Therefore,the rise of mutual insurance in China can be said to be a homeopathic choice for the country and the insurance industry in a certain social and economic context.In 2015,CICC predicted that after 2025,the size of China’s mutual insurance market will reach 760 billion yuan,which can be said to be promising,but the actual situation is that the mutual insurance "pilot" is still "single shadow" five years later.Therefore,this article aims to answer the difficult question of how to standardize and develop mutual insurance in China.First of all,we will explore the development process of foreign mutual insurance and clarify its settings in terms of legislative system,governance structure,and solvency control.Subsequently,the practice process of mutual insurance in China is reexamined,and the particularity of China,the lack of institutional foundation,and the deviation of insurance from the source are all the deep-seated reasons hindering the development of domestic mutual insurance,and the innovative significance of Mutual Insurance in China is analyzed.Then,combining the experience of mutual insurance development at home and abroad with the actual situation in China at present,the main framework of mutual insurance daily operation and supervision is constructed,laying the foundation for the development strategy of mutual insurance in China.In addition to the institutional advantages of mutual insurance itself,mutual insurance and the Internet have natural combinability,and the unlimited possibilities given to mutual insurance in the new era are also one of the important reasons for the development of mutual insurance in China.Therefore,in order to make the conclusion more feasible and advanced,this paper is not limited to the traditional mutual insurance development period,and introduces the Xinmei Mutual Society with Internet genes as a case,so as to see the big picture in a small way and clarify that there are opportunities such as financial technology for mutual insurance empowerment and policy support in the Internet era It faces challenges such as laws,imperfect internal and external supervision,and fierce competition in the insurance market.Finally,in the face of the challenges,we put forward the mutual insurance development strategy from the four aspects of mutual insurance supporting system,internal control,capital replenishment ability and membership service,so as to help China’s mutual insurance achieve the goal of steady development.