Research On The Influence Of Internet Insurance On The Operational Efficiency Of Life Insurance Companies

The rapid development of Internet technology in recent years is undoubtedly accompanied by huge transformation opportunities for traditional industries,so is the financial industry.The combination of Internet technology and finance has spawned an emerging model of Internet finance,and Internet insurance is a key component of it.As early as 2014,this industry has shown great development potential.However,Internet insurance has not been developed for a long time and has not yet formed a perfect system in many aspects.In particular,compared with its extremely high speed of development,this industry has shown a significant lag in supervision,and relevant policies are still being adjusted and improved.In general,compared with other sectors of Internet finance,the maturity of Internet insurance is not enough,and the penetration rate still has considerable space for development.Among the different components of insurance,life insurance is an important module that can not be ignored.Whether the development of Internet insurance buisness can promote the operation efficiency of life insurance companies has become a very necessary research topic in the industry,which is also the research topic of this paper.Firstly,this paper defines the concept of Internet insurance.Secondly,the relevant theories of operation efficiency are elaborated,and the appropriate measurement methods are selected,and then theoretically analyzes the impact of Internet insurance on the operating efficiency of Life insurance companies in China,which provides a basis for empirical research in the following paper.In the empirical stage,this paper selects 36 life insurance companies as the research object,and uses DEA method to calculate their static efficiency values from 2016 to 2019.Then,Tobit model is constructed to conduct regression analysis on the relationship between between Internet insurance and the efficiency of life insurance companies.At last,the conclusion is drawn that Internet insurance can promote the improvement of operation efficiency of life insurance enterprises,and the influence of Internet insurance is more obvious for small and medium-sized life insurance companies and Chinese life insurance companies.Based on the conclusion,combined with the current problems faced by the Internet insurance,the paper puts forward some suggestions from two aspects of policy and industry.