Research On The Operational Efficiency And Improvement Countermeasures Of China’s Banking Life Insurance Companies

At present,with the continuous deepening of China’s platform economy,mixed operation and financial group,bank-based life insurance companies,as one of the main bodies of life insurance operation,have broader development space and development advantages compared with ordinary life insurance companies.However,with the continuous improvement of its business scale,China’s banking life insurance companies have not been able to give full play to the unique advantages of "banking",and the cooperation with the parent bank is not deep enough.There are still certain defects and shortcomings in the quality of business development and operation efficiency,etc.Therefore,the research on its operation efficiency and influencing factors is very necessary.This paper studies the operating efficiency and its influencing factors of life insurance companies in China’s banking system,and aims to put forward specific countermeasures to improve its operating efficiency.Based on the analysis of synergistic effect theory,economies of scale theory and coootive game theory,this paper uses theoretical analysis and empirical analysis to compare and analyze the common methods and selected indicators for measuring the operating efficiency of the insurance industry.A more complete evaluation index system,including sub-sector index,intermediate link index and carry-over index,is set up to calculate the overall operating efficiency,efficiency of each period,efficiency of each department and efficiency of specific variables of China’s bank-based life insurance companies.Then Tobit model is used to analyze the influencing factors of operating efficiency of bankbased life insurance companies.Pertinently put forward the countermeasures to improve the operating efficiency of bank life insurance companies.The main innovation of this paper is that the efficiency measurement model is relatively new,and the DNSBM model,a new achievement of data enveloping model in the non-parametric method,is adopted to measure the efficiency of each period,each department,each variable and the whole,which is more accurate in efficiency measurement.The indicator variables are more complete,and a more complete evaluation index system including sub-sector indicators,intermediate connection indicators and carry-over indicators is set up.The conclusions of this paper include: from the perspective of overall efficiency,the overall efficiency value of bank-owned life insurance companies is on the rise,and is closely related to the trend of China’s economic environment,the length of the company’s establishment,equity adjustment and so on;In terms of efficiency of all departments,the efficiency of marketing management department is higher than that of capital investment department;In terms of the efficiency value of each variable,the input index of the marketing management department is the number of employees and the input amount of expenses and costs is too high,while the input index of the capital investment department is the investment capital and actual capital.Among the linking variables,the linking efficiency of premium income is better,but the linking efficiency of compensation and surrender is worse;In terms of Malmquist index,the overall Malmquist index of China’s bank-based life insurance companies fluctuates to a certain extent,which means that the business development of bank-based life insurance companies is not stable,and the market positioning and business model are not clear enough.Finally,through Tobit regression analysis,it is found that the quality of employees,market share,cost and expense,company size and capital operation level are significant and have a significant impact on operating efficiency.Therefore,the following suggestions are given: improve the quality of staff and cultivate "banking + insurance" compound talents;Deepen cooperation and make full use of parent bank resources;Innovating product development and adjusting business structure;Improve the level of operation and management,reduce costs;Clear business strategy,identify market positioning,strengthen enterprise publicity.