Abstract
Evaluation the core competence reasonably plays an important role in the insurance company, it is related to whether the insurance can maintain a stable long-term competitive advantage or not, and whether obtain a stable long-term excess profits or not. In this paper, we select 6 first-degree indexes (including the core competence) and 28 second-degree indexes to evaluate the core competence of insurance company by Structural Equation Model (SEM), and analysis the relationships among the first-degree indexes. Besides, we use a new algorithm proposed by us to improve the calculation of SEM.
Highlights
The essential of competition among enterprises is scramble for the required resources of their survival and development of enterprises, the competitiveness of enterprises is the ability of enterprises to compete for resources [1]
We select 6 first-degree indexes and 28 second-degree indexes to evaluate the core competence of insurance company by Structural Equation Model (SEM), and analysis the relationships among the first-degree indexes
SEM is a rapid-developing embranchment of Application Statistics, which has a wide application in the area of Psychology, Economics and Sociology [6,7], especially in Customer Satisfaction Index (CSI) [8] model which is required by a series of ISO9000 criterions
Summary
The essential of competition among enterprises is scramble for the required resources of their survival and development of enterprises, the competitiveness of enterprises is the ability of enterprises to compete for resources [1]. The theory of the core competitiveness study the ability of optimal allocation of resources of enterprises from the short-term extends to long-term. Regulatory authorities require the insurance company provide the transparent and open information of the insurance products for financial supervision [3]. Based on this features, many scholars establish the model to evaluate the core competence of insurance company. Many scholars establish the model to evaluate the core competence of insurance company Such as DEA data envelopment analysis model, BSC (Balanced Score Card model) [4] and so on. We introduce a model in which the coefficients and weights are calculated by samples, so it is more objective and convincing, and could offer more deep analysis for the index systems
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