| In the era of digital economy,the Internet consumption environment is becoming more and more mature,the traditional insurance business is constantly being transformed and innovated,and the Internet insurance is rising strongly.In recent years,the Internet insurance industry has been growing steadily,and more insurance companies have participated in the insurance industry.The overseas insurance giants,such as AXA France,realized the huge development potential of Internet insurance market in China,rapidly extended their business territory,established Internet insurance product system,expanded their technical layout,strengthened their core competitive advantages,and increased investment in China to accelerate insurance In the process of business acquisition,a sole proprietorship or joint venture insurance company was established to obtain greater management and control rights.Based on this,from the perspective of Internet insurance,this paper studies the impact of Internet insurance business on the operating efficiency of insurance companies,and takes the world’s largest insurance giant AXA company as an example to analyze its success and characteristics at home and abroad,so as to provide suggestions for insurance companies of China to strengthen their competitive advantage in the local market and "go global".This paper compares the difference of Internet insurance at home and abroad from the perspective of Internet insurance industry environment,and then analyzes the product life cycle of Internet insurance,the operation status and development trend of insurance companies.Secondly,by using Two-stage DEA model to evaluate the marketing efficiency and investment efficiency of 19 Internet insurance companies in China from 2016 to 2019.From the perspective of static efficiency,the marketing efficiency of Internet insurance companies is declining,while the investment efficiency is growing,and the average operating efficiency is 0.535,0.538,0.480 and 0.462 respectively,which is in a downward trend;from the perspective of dynamic efficiency,the TFP index of marketing link is larger than that of investment link,with an improvement of 13.9% and a decline of 3.3% respectively in the past four years.In order to explain this phenomenon and analyze whether the Internet insurance business can bring positive impact on the operating efficiency of insurance companies,this paper takes the TFP index of insurance companies as the explanatory variable,and selects the Internet insurance business concentration,Internet insurance innovation,insurance consumer complaints and staff quality as the explanatory variables for regression analysis.The results show that insurance companies can significantly improve their operating efficiency by expanding Internet insurance business concentration and strengthening internet product innovation.Then,through the analysis of the global business situation and international operating characteristics of AXA,it discusses its domestic and foreign insurance business operating decisions and Internet insurance strategic layout,and analyzes how it gains a competitive advantage in the foreign insurance market and the reason of expanding investment in China.At the same time,combined with the previous empirical results,this paper analyzes the operation status of two companies established by AXA in China.The results of the case show that AXA has always focused on its core insurance business in the process of international operations,and has continuously expanded its business scale through mergers and acquisitions,seized the opportunities for Internet insurance development,and finally achieved significant results in the international market.In the Chinese market,the efficiency of two subsidiaries of AXA Investment is poor,but the efficiency of the company can be improved through the Internet insurance business.Finally,from the perspective of managers,this paper puts forward relevant suggestions for Chinese insurance companies to consolidate their competitive advantages in the local market,go out and carry out transnational insurance business activities under the background of Internet. |
