Research On The Impact Of Insurance Technology On The Structure Of Property Insurance Companies

With the continuous deepening of the application of insurance technology in the insurance industry,insurance technology has fully penetrated into various aspects such as product development and pricing,marketing,operation management,and risk control,and the insurance structure of insurance companies has also undergone changes.With the continuous development of China’s insurance industry,it has become the second largest insurance market in the world.However,there are still some problems in the development of China’s insurance industry.Property insurance companies have a high proportion of vehicle insurance business and a slow development of non vehicle insurance types,resulting in an imbalance in the structure of insurance types.This type of insurance structure seriously hinders property insurance companies from fulfilling their social risk management functions,and has become a major problem that the property insurance industry must address.In order to solve the problem of unbalanced insurance type structure in property insurance companies,this thesis conducts a quantitative study from the perspective of the impact of insurance technology on the structure of property insurance companies,and analyzes whether insurance technology will promote the optimization of the structure of property insurance companies’ insurance types,improving the current situation of uneven development of various insurance types in property insurance companies.This thesis uses various data from 31 provinces,cities,and autonomous regions from 2012 to 2020,with the insurance sub item in the Peking University Digital Inclusive Finance Index as the explanatory variable to represent the degree of insurance technology development.The depth and density of property insurance,the proportion of car insurance premium income,and the proportion of non car insurance premium income are the dependent variables to represent the degree of development of the property insurance industry,the degree of optimization of the insurance structure of property insurance companies The development level of various types of non car insurance is controlled by data such as population density,aging degree,GDP,PCDI(per capita disposable income of residents),and education level in each province.A fixed effects model is used for regression analysis.In order to make the research results more convincing,this paper uses the Internet penetration rate as a tool variable to conduct a robustness test.In addition,this article also divides the samples into the eastern region and the central and western regions to study heterogeneity,in order to explore the differences in the optimization degree of insurance technology on the structure of property insurance companies in different regions.The conclusions of this thesis are as follows:(1)The development of insurance technology will promote the overall development of the property insurance industry.(2)The development of insurance technology will optimize the insurance structure of the entire property insurance company,that is,insurance technology will promote the balanced development of various insurance businesses,and the robustness test results based on instrumental variables show consistency.(3)Insurance technology has significantly promoted the development of non vehicle insurance except for corporate property insurance and cargo transportation insurance.(4)The development of insurance technology has more optimized the structure of property insurance companies in underdeveloped areas in the central and western regions than in the eastern regions.In this regard,property insurance companies should increase the application of insurance technology;Strengthen scientific and technological investment in non vehicle insurance and the central and western regions;Establish a sandbox supervision system;Strengthen the training of technical talents.