Internet insurance industry related companies: China Ping An (601318), China Life (601628), China Property
Analysis of the current situation and development prospects of China's insurance industry and development prospects. The analysis of the current situation and development prospects of the insurance industry. For more than 20 years in my country's insurance industry, although the Chinese insurance market has achieved great achievements, it is still a big gap compared with developed countries. After joining the WTO, China's insurance industry faces rare opportunities and unprecedented challenges. This article analyzes the current status, development trends and prospects of the Chinese insurance industry, and at the same time proposes countermeasures that should be taken after joining the WTO. Keywords: The current development trend of the insurance industry challenge potential countermeasures 1. Since the development of China's insurance industry and the development trend of the development trend, the development of China's insurance industry has achieved a series of results. A state -owned insurance company coexisted with Chinese and foreign insurance companies, and foreign insurance companies are rushing to enter the market. A new insurance market pattern that many insurance companies have actually developed for development have initially formed. But compared with developed countries, there is a huge gap between China's insurance industry. (1) China's insurance industry is continuously developed and expanded, and has achieved a series of results 1. The rapid development of business. Since the restoration of domestic insurance business in 1980, China's insurance industry has maintained a good momentum of continuous and fast and healthy development. The total premium revenue in 2003 reached 388.04 billion yuan, an increase of 27.1%over the previous year, equivalent to 2.8 times in 1999; the total insurance industry's total assets reached 912.28 billion yuan, an increase of 41.5%over the previous year; 51.4%over the previous year. In 2003, the insurance density was 287.44 yuan (that is, the average premium of each citizen), and the insurance depth was 3.33%. The Chinese insurance industry showed a good situation of booming. 2. The market system is gradually improved. As of the end of 2003, there were 61 insurance companies across the country, including 24 Chinese -funded insurance companies and 37 foreign -funded insurance companies. According to business nature, there are 25 property insurance companies, 30 personal insurance companies, 5 reinsurance companies, and 1 policy insurance company. In addition, there are 6 insurance groups (holding) companies and 2 insurance asset management companies. There are 705 professional insurance intermediaries, including 507 insurance agency companies, 115 insurance agency companies, 83 insurance publicly estimated companies, and 1.5 million insurance practitioners. 3. The progress of system reform is smooth. The reform of the joint -stock system of Chinese People's Insurance Corporation, China Life Insurance Corporation, and China Reinsurance Corporation has made significant progress. Some joint -stock insurance companies participate in the shares of foreign investment and private capital, the equity structure is optimized, the governance structure has gradually improved, and the level of management and management has been further improved. The reform of the management system of insurance funds made a breakthrough. With the approval of the State Council, the China Insurance Holdings Company and China Life Insurance Corporation have set up insurance asset management companies to implement professional management and centralized use of insurance funds. It has taken an important step in exploring the reform of insurance fund management. 4. Primary improvement of laws and regulations. The promulgation and implementation of the Insurance Law of the People's Republic of China in 1995 marked that the Chinese insurance industry has entered the stage of law and management according to law. In order to meet the needs of China to join the WTO, in 2001, the State Council issued the "Regulations on the Management of Foreign Insurance Company", and the China Insurance Regulatory Commission actively cleaned up laws and regulations and regulations that do not comply with the rules of the WTO. In 2002, a new insurance law was promulgated. At the same time, in accordance with the relevant provisions of the new insurance law, the China Insurance Regulatory Commission has formulated and revised a series of supporting rules and systems such as insurance company management regulations. A law system that is suitable for the development of the Chinese insurance market has gradually formed. 5. Insurance supervision is gradually in line with international standards. The procedure capacity supervision has taken a substantial step, and promulgated the "Insurance Company's Capable Requirements and Regulations for the Management of Supervision Indicators", established a system of solvency early warning indicators, which is initially established in accordance with the framework of China's national conditions. At the same time, a series of regulatory regulations such as the "Supervision Index of Property Insurance Company Branch", "Supervision Report on Property Insurance Company", and "New Personal Insurance New Products" are implemented. The system construction of the insurance industry supervision was strengthened. (2) Compared with developed countries, there is a huge gap in the following aspects of the insurance industry in my country. 1. From the scale of the development of the insurance industry, the number of insurance companies, total premium income and total assets of insurance companies are all Relatively few. The scale is the basic symbol of the development level of the industry and enterprises. From the statistics of various aspects, it should be seen that my country's insurance industry is still in its infancy. 2. From the perspective of insurance depth and insurance density, my country is at a very low level in these two aspects, far from developed countries. Insurance depth is the ratio of annual premium income from a country and region to GDP in the same period. At present, the insurance depth of the insurance market in developed countries has reached about 10%. The insurance depth of my country in 2000 was 1.8%. Insurance density indicators refer to per capita premiums. Developed countries have reached 2000--3,000 US dollars, and Japan is as high as $ 4,600. The per capita premiums in my country are only 127.7 yuan, about $ 15, US $ 1,600, per capita premiums are 107 times that of China, and Japan is 307 times that of China. Insurance depth and insurance density are important indicators to measure the development level of the insurance industry. 3. From the perspective of the people's understanding of the insurance industry, the concept of insurance is still poor. People do not know enough about the role of insurance in stabilizing socio -economic and maintaining personal interests. There are very few individuals who have taken the initiative to buy insurance. The entire insurance industry, especially personal insurance, is a buyer's market, forcing millions of insurance to sell troops to run around and sell insurance products. As a product of a market economy, as a stabilizer of society, it is necessary to let people understand their role in vital interests. (3) According to the general laws of the development of the market economy and the actual situation of the development of my country's insurance industry over the years, it is expected that in the future, the following development trends will emerge in my country's insurance industry. 1. Insurance market systemization. Judging from the establishment of the "Insurance Law" in 1995, especially since the establishment of the China Insurance Regulatory Commission in November 1998, the pace of construction and improvement of the Chinese insurance market system is accelerating. Establish. 2. Professional business. With the deepening of my country's insurance system reform, policy insurance businesses such as credit insurance and agricultural insurance are separated from commercial insurance companies, and a special policy insurance company is established by the state. At the same time, in the next few years, specialized insurance companies such as fire insurance or motor vehicle insurance will also be established in the next few years. 3. The market competition is orderly. Since 1997, the People's Bank of China has adjusted the refund of aviation insurance and motor vehicle insurance from the rectification agent, and has vigorously rectified the insurance market. Increasing the punishment of violations and violations, and achieved significant results. 4. Insurance product character. In a gradual mature market, products to occupy the market can only rely on brand price service. This is characterization. As far as the characteristics of insurance products are concerned, it contains not only the interest guarantee function or investment function, savings function or product combination function, but also its price level and service level. 5. Innovative insurance system. According to my country's specific situation, my country's insurance innovation content mainly includes innovation in product development, marketing methods, business management, organization, electronic technology, service content, and employment system, distribution system, and incentive mechanism. Through the innovation of the above content, the development of my country's national insurance industry has been promoted, and domestic insurance companies are invincible in the competition with foreign insurance companies. 6. Instances management and management. In the context of the increasingly fierce market competition, domestic insurance companies have realized that they only pay attention to the disadvantages of expanding scale and seizing the market, and seek to follow the benefits, intensively intensive development, and maximize economic benefits. 7. International development of the industry. Under the general trend of global economic integration, my country's insurance industry and international standards are the only way. Chinese -funded insurance companies will also set up branches abroad to strengthen technical cooperation and business cooperation with the international insurance (reinsurance) market, and actively carry out international insurance business. 8. Practitioner professionalism. In the context of competition at home and abroad, it objectively put forward higher requirements for insurance practitioners. Each commercial insurance company will pay more attention to the training of talents. Actuary and professional talents, we must also cultivate export -oriented talents who are proficient in international insurance practices and participate in competition in the international insurance market. 2. The development of China's insurance industry is facing unprecedented challenges. At the same time, after its huge potential to join the WTO, China's insurance industry is facing unprecedented challenges. At the same time, China's insurance industry has huge potential. (1) The development of China's insurance industry is facing unprecedented challenges 1. The entry of foreign insurance companies has strengthened the competition in the insurance market and led to the rapid decline in the premium profit margin of insurance companies. 2. Cause some premium outflow. Although Article 102 of the Insurance Law implemented in 1995 stipulates that "if insurance companies need to handle reinsurance distribution of business, they should give priority to insurance companies in China", but it is difficult to operate in actual operation. At present, the insurance regulatory authorities require foreign insurance companies to retain their own premiums not less than 30%. In addition to the 20%of the legal division insurance, 50%of the premiums can be arranged by foreign -funded insurance companies. 3. Competition with domestic insurance companies for a certain market share. Foreign insurance companies objectively have the advantages of strong financial strength, advanced management, and high technical service level. Although they are still limited in business operations, the development momentum is better. From the perspective of the national market structure, the proportion of foreign -funded insurance companies is less than one percent years, but the market share of foreign insurance companies in the open area has been close to 10%, and it has continued to expand. 4. Foreign insurance companies have a strong conditions than domestic insurance companies because they have a strong treatment in terms of treatment, which will cause some outstanding talents in domestic insurance companies to lose. (2) From the factors that affect the development of the insurance industry, the development of China's insurance industry has huge potential 1. With the increase of the income of urban and rural residents in my country, the continuous decrease in the Engel coefficients, and insurance products are inevitable as a special financial consumer goods. It will gradually increase with the increase in income. 2. With the continuous adjustment of my country's economic structure, the insurance industry will continue to increase with the proportion of the financial industry in the national economy. In contemporary world economic activities, the insurance industry has become more and more important, and the proportion of the insurance industry in the economic structure will increase. Insurance institutions should fully recognize the huge market potential and living space of my country's insurance industry, and achieve the transformation of the insurance industry from the buyer's market to the seller market. 3. During the period of major changes in my country's socio -economic changes, the scope of the insured and the insured is growing and expanding. All kinds of accidents have repeatedly occurred, and natural disasters and people's disasters have come to an end. This provides a full basis for expanding the development of the insurance industry. Provide a wider space. 3. The countermeasures of China after joining the WTO in the face of the huge gap between China's insurance industry and developed countries and the challenges faced after joining the WTO, we should consider the following countermeasures: (1) Accelerate the pace of open insurance markets and improve national insurance At this stage of the industry's competitiveness, there are two major characteristics of the insurance market in my country, one is closed and the other is monopoly. Aiming at the development of my country's insurance market, accelerate the pace of opening up the domestic insurance market, establish a set of insurance mechanisms that adapt to the market economy as soon as possible, break the market structure of closed monopolies, liberalize the domestic insurance market, and boldly allow existing insurance companies to join The ranks of competition have achieved full and orderly competition in the insurance market and fully developed. (2) The state shall implement a low tax policy for the insurance industry to further strengthen the strength of the national insurance industry. my country's current insurance company's taxation standards pay 8 % of business tax, 33 % of income tax and 15 % adjustment tax in accordance with premium income. my country ’s fiscal taxes on insurance companies to a bottom -class lesson affect the accumulation of insurance company liability reserve to a certain extent, thereby improving the improvement of insurance solvency. In addition, policies to foreign insurance companies exceed some policies of national treatment, which will also make Chinese and foreign insurance companies in unequal competitive position. The above requires the country to discuss research from the policy. (3) Reform the insurance operation system and management system of my country's domestic asset insurance company, and realize the integration with international practice as soon as possible. my country's insurance industry is born in the era of planned economy. Now domestic -funded insurance companies are basically old management systems in personnel and finance. Due to the rigid system, low treatment, and the use of talents, employees' wages and benefits cannot be compared with foreign companies. Therefore, through reform, it is necessary to overcome the disadvantages of the domestic insurance system, the introduction of advanced management systems and operating systems, so that domestic companies can improve corporate vitality as soon as possible and enhance market competitiveness. At the same time, it is necessary to improve and develop the capital market and securities market that is conducive to the use of funds of domestic insurance companies, broaden the domestic insurance industry business channels, strengthen the capital strength of domestic companies, and actively and steadily promote the reform of domestic insurance companies. In the company's structure and insurance business operations as soon as possible with international standards, and actively participate in competition. (4) In the increasingly international insurance market, if my country's insurance industry wants to be invincible, it must establish a new insurance business concept. To truly cultivate a national insurance company with strong strength and national awareness, domestic insurance companies must change their business ideas, establish business ideas with efficiency costs, establish internal control mechanisms to adapt to the future insurance market, and specialize in the quality of underwriting quality, management efficiency, and risk capabilities. , Strict management of procedures for standardized operations. The thickest operation is intensive operation, hard work in internal skills, and improve risk management and technical level. It is necessary to transform a single business model into a variety of marketing models, and to explore various forms of marketing methods in a spirit of pioneering and innovative. To learn and learn from the practice of foreign insurance companies, focus on cultivating intermediaries and using intermediary agencies. To improve the quality of insurance services, make itself invincible. In addition, the state should support the national insurance company from the policy, implement a tilt policy in the sources to enhance its comprehensive strength. (5) Actively carry out insurance scientific and technological innovation activities to comprehensively and rapidly improve the level of management and management. Insurance technology innovation is a pioneering and creative change in the business operation of the insurance industry. It mainly includes many aspects of insurance innovation, marketing methods, and service project innovation. Insurance technology innovation is conducive to narrowing the gap between the ethnic insurance industry and the international insurance market, driving the rapid development of the insurance industry, and maximizing the society's growing multi -level and diverse insurance needs, which will make us live in the future insurance market. The status. At present, in terms of insurance innovation, we must vigorously develop liability insurance, medical insurance and other types of insurance, and make every effort to explore new insurance types. Such as dividend insurance, variable insurance, single disease and specific disease insurance. Secondly, in terms of marketing methods, we can learn from the business experience of the foreign insurance industry, combine our own situation, vigorously develop new marketing methods and methods, and pave the way for network insurance as soon as possible. The development of online insurance is used as a strategic measure for the 21st century, and it is positive for occupying the online market. (6) Accelerating the future competition of high -quality talents, in the final analysis, is the competition of talents. In addition to paying attention to the nesting and attracting phoenixes, the national insurance industry needs to attract talents through respect and preferential treatment policies, but also requires all aspects of the education and training of existing talents. At the same time, we must pay attention to the cultivation of the atmosphere of corporate culture, create a harmonious, loose, united environment to enhance the cohesion of the enterprise and prevent talent loss. (7) Improve insurance regulations, strengthen market supervision and ensure the healthy and sustainable development of the insurance market, and achieve the full process of supervision, dynamic, and sustainable. At the same time, it is necessary to accelerate the formulation of relevant laws and regulations before and after entering, including modifying and improving the Insurance Law, which should implement unified supervision of internal and external insurance companies. Double standards should be avoided in supervision goals, indicators, and means. effect. References: 1. Qiao Guiming: "Research on the Development of China's Insurance Industry" 2003-12-012.3. Wei Huarin, Yu Shili, Guo Yang: Open and supervision of the Chinese insurance market. "Insurance Research", 1998 (7), (8), (9) Author address: 2004 level of economic and trade at the School of Economics and Trade of Henan University of Technology: 450001 Extension reading: [insurance] how to buy, which one is better, which one is better, Teach you the "pit"
Pay content for time limit to check for freenAnswer Hello, I am honored to answer the questions for you. It takes a little time to sort out the answer. Please wait patiently ~nAlthough the insurance industry in my country has occurred in the process of development, in general, it is continuous and healthy, and it has played an important economic compensation role. Insurance business institutions have gradually increased, and the insurance market has begun to take shape. From the 1980s, there were only one Chinese people's insurance company, and now hundreds of insurance companies. The Chinese insurance market contains huge potential, with a large population of the country, the improvement of per capita living standards, and the greater demand for insurance. The development of the insurance industry is imbalanced. Like other industries, the higher the living standards of people, the greater the insurance demand. I do n’t know what to eat next dinner today. Of course, there is no time to worry about what his pension life looks like. With economic globalization, the insurance market is gradually opening. In general, my country's insurance market is continuously developing. The prospects of my country's insurance market are summarized by these three points. Let's take a look at it in detail. First, the challenge is huge. 1. Public risk and insurance awareness are still weak; this has a certain relationship with my country's development history. Since the founding of New China, from 59 to 79 years, there is no insurance in China. There is no concept of insurance. Daily life cannot be exposed to insurance, because each employee under the central plan is responsible for each individual's life, old, and sickness, so there is no need for insurance. Therefore, there was no insurance at that time, and there was no consciousness in risks. It was only after the 1980s that I gradually had a sense of risk, and it was still in a weak state. 2. The internal governance mechanism of the insurance company is far from being improved. As a company, the company's internal management mechanism is the basis for the development of the enterprise. At present, the mechanism of the Chinese insurance company is far from being improved. 3. The incomplete capital market and the restrictions on the insurance market are very obvious; insurance in the capital market is an important part, and the imperfection of China's capital market is very obvious. His wife was embarrassed and shouted: Li Yanchen, hug me! The audience was shocked, but the chairman! Advertising rice reading free novels View details 4. The problem of lack of insurance professionals is very prominent; the insurance industry is the scope of the financial service industry. In the final analysis, it is the competition of talents. Before that, everyone also knew that insurance seemed to be able to do it. I didn't want to say it. The result is that there are still a large number of people who think that insurance is deceiving. In the final analysis, shouldn't people sell insurance? The current status quo is that large cities require college degree or above to sell insurance, while small cities rural areas are basically not much different from the original. The biggest problem is that unprofessional salesmen have mixed the water in the insurance market. In the end, the insurance business is also sold. As a doctor, "knocking on your door and telling you that this bottle of medicine is good, everything is in charge, and you can buy it cheaply. Do you dare to buy it? Why did the insurance salesperson knock on your house and tell you that this insurance is good? It's a cheap to buy, then sell it? "Second, the opportunity is unprecedentednQuestions about the status quo of the insurance industrynAt the end of the year, investors have seen more and more unpopular stocks rebounding, especially some long -term sluggish industries and individual stocks have obvious rebounds, including sections such as "double reduction" policies such as education. There are rebounds. Of course, these are only local overlooking rebounds; what is really continuous is that the pharmaceutical sector has been mentioned, relying on the continuous rebound of product and policy transfer. So, investors are also doubting, will there be a change in large industries such as insurance and real estate? In particular, there are many rumors of policies, and today I have also done a detailed study of this. Analysis of the status quo of the insurance industry, the difference between ultra-decline and reversal 2021 Insurance stocks have poor collective performance in the insurance stocks. On the one hand, it comes from the drag of the real estate industry, especially Evergrande, Huaxia-Happiness and other frequent mines, and insurance stocks invest in real estate The most stocks have led to related concerns; on the other hand, the reasons for the short -term growth pressure of the insurance liability side and the market worry about the risk of assets. Therefore, whether these two aspects can change is the key. 3 On September 30, 2021, a China-Happiness announced debt repayment plan was announced. The debt settlement plan showed that its 219.2 billion yuan of financial debt will be settled through six paths. From this market, the principal of China-Ping An's debt will be paid, and there will be no need to count the repayment of debt to the impairment of the debt again, and the debt will be transferred back. There is no increase in stocks, but there is no new low. So, does this mean that the insurance industry crisis caused by the continued decline in real estate is lifted?保 The premium data released by various insurance companies shows that the life insurance and property insurance businesses of each insurance company are currently under pressure. The growth of the first three quarters is mainly due to the bottom of the first half of the year, especially in the first quarter. Since the second half of the year, the listed life insurance company and the property insurance company have started in July to August. Compared with the same period last year, negative growth was negative growth last year. Essence The new single pressure of life insurance business is particularly large, and it has faced negative growth. The negative growth of property insurance is mainly caused by the negative growth of auto insurance.从 Comprehensive perspective, from these two perspectives, the real estate debt problem has not been completely sorted out, and insurance companies have not improved in the third quarter report. It is inevitable that the insurance industry achieves negative growth in 2021, and it is probably compared with the four quarters of the four quarters. In the first three quarters, there were further declines. This means that the rebound of insurance stocks can only come from the factors after the ultra -decline. To put it plainly, it is a bombardment that falls too much, but if you want to achieve a trend reversal, you must have fundamental support. Otherwise, it is easy to be like the machinery and cement led by the previous Sanyi-heavy work, Huaxin-cement, etc., and after the local rebound, the center of gravity still moves down, and even a new low trend. The real estate thermometer shows that the recent "action" real estate sector is the most obvious to policy dependence, and it can even be said to be a typical policy market. The mortgage interest rate has always been regarded as the thermometer of the property market. In the first three quarters of 2021, the overall level of national mortgage interest rates has risen for 8 months, but compared with the previous months, the increase in September has slowed down. Earlier, there have been news that the bank mortgage amount is tightened in many places, waiting for loan approvalnMore 2nBleak
Your email address will not be published. Required fields are marked *
Save my name, email, and website in this browser for the next time I comment.