Chinese Insurance Companies Research Articles

Consumer Perspectives on Commercial Pension Insurance Products: Insights and Implications

This study delves into the consumer perspectives on commercial pension insurance products, aiming to uncover insights into awareness, understanding, preferences, and concerns among consumers. Through interviews with 50 participants from five prominent Chinese insurance companies, the study examines demographic characteristics, awareness levels, perceived benefits and risks, factors influencing purchase decisions, and satisfaction with current products. The findings reveal a nuanced landscape wherein participants recognize the importance of pension insurance for long-term financial security but express apprehensions regarding policy transparency, affordability, and reliability. Trust in insurance companies, reputation, and financial stability emerge as primary factors influencing purchase decisions, highlighting the need for flexible and affordable policy options aligned with individual retirement goals. Comparative analysis among companies underscores variations in consumer perceptions, emphasizing the importance of continual product evaluation and improvement to meet evolving consumer needs. The study concludes by advocating for enhanced consumer education initiatives and regulatory frameworks to foster transparency and consumer welfare within the competitive insurance market.

Research on the Influence of Data Elements on the Operational Efficiency of Chinese Insurance Companies

Research on the Influence of Data Elements on the Operational Efficiency of Chinese Insurance Companies

Performance evaluation and analysis of Chinese insurance companies under uncertain financial markets

Performance evaluation and analysis of Chinese insurance companies under uncertain financial markets

Home bias and local equity portfolio decisions of Chinese insurance institutional investors.

Our paper explores whether Chinese insurance companies exhibit a local preference in deciding their equity portfolios and the incentive of this preference. Our research finds that Chinese insurance institutional investors significantly tilt to invest in local firms geographically close to them, and local investments do not significantly outperform non-local investments. The results indicate that the behavioral aspect of home bias, rather than information advantage, play a more significant role in deciding equity holdings of China's insurance companies. Additionally, local equity preference is more pronounced in dialect-segmented areas and life insurance firms. This paper incorporates hometown identification into the analysis framework of insurance companies' portfolio decision-making and enriches the research of their investing strategies from the perspective of behavioral finance.

The Influence of Insurance is Open to The Public on the Efficiency of Chinese Insurance Companies

This paper will analyze China's open policy of insurance. Then through the statistical data from the premium income, asset strength, personnel, operating characteristics and bottlenecks of development of both foreign and Chinese insurance companies, this paper superficially analyzes the effect of the open policy to Chinese insurance companies. Then this paper use actual degree of openness to calculate China’s insurance openness. And use DEA to calculate Chinese insurance companies’ efficiency. Finally through the empirical analysis, we get following conclusions: (1) By analyzes the data of the past 15 years, the improvement of insurance openness has a significant negative correlation with Chinese property insurance companies. It shows that under the open policy of insurance, the operation of Chinese property companies is threatened, and they have not found a good way to improve their operating efficiency. (2) Under the open policy of insurance, the impact brought by the policy content change of opening the Compulsory vehicle liability insurance market to foreign investors has obvious negative effect on the operating efficiency of Chinese property insurance companies, which indicates that the operating efficiency of Chinese property insurance companies, which mainly bring income from Vehicle insurance, has obviously decreased after the policy change. The impact brought by the change of shareholding ratio policy of foreign life insurance companies in the open policy of insurance has positive effect on the operating efficiency of Chinese life insurance companies, which indicates that the operating efficiency of Chinese life insurance companies has increased after the promulgation of the policy.

Research on the Transformation and Advancement of Non-standard Insurance Business in Chinese Insurance Companies: Insights and Recommendations

Research on the Transformation and Advancement of Non-standard Insurance Business in Chinese Insurance Companies: Insights and Recommendations

Analysis of Insurance Marketing Planning Based on BD-Guided Decision Tree Classification Algorithm

The emergence and development of Chinese insurance companies are affected by their own unique national conditions. The modern marketing concept lags behind, lacks the practical experience of scientifically formulating marketing strategies, and insurance practitioners lack marketing knowledge and the ability to absorb modern marketing achievements to guide practice. Therefore, China’s insurance industry inevitably has many problems in insurance marketing. In recent years, with the rapid development of big data (BD) technology, artificial intelligence, and machine learning in engineering and academia, relevant data models have been well developed. The advantages of the decision tree are its good robustness, full sample mining, high precision, fast implementation, fast running speed, and low implementation cost. This paper studies the application of the decision tree classification algorithm under the guidance of BD in insurance marketing planning. The running results of the decision tree classification algorithm model show what factors will affect the accuracy and recall rate of customer churn decision-making. The predicted value and scoring value of users are extracted to test the model, and the results are within a reasonable range. The running time of this model is 2,320.36 s, which is more efficient than the 34 min 25 s of traditional SAS. Therefore, the model can be put into use, and it is necessary to establish a long-term and stable relationship with customers.

Evaluating traditional, dynamic and network business models: an efficiency-based study of Chinese insurance companies

Evaluating traditional, dynamic and network business models: an efficiency-based study of Chinese insurance companies

A value-added view of intellectual capital and financial performance in knowledge management: a case of Chinese insurance companies

A value-added view of intellectual capital and financial performance in knowledge management: a case of Chinese insurance companies

A Risky Business: The Tai Ping Insurance Company and Fire Insurance in China, 1928–1937

This paper traces the history of the Chinese fire insurance industry and Tai Ping Insurance, one of the most successful Chinese insurance companies in the early twentieth century. It provides a case study on the “indigenization” of fire insurance in China by retracing how a fledgling firm mastered selling a foreign financial product and managed to win market share in an ostensibly adverse environment. This paper argues that while Tai Ping benefited from the growing embrace of insurance by the Chinese public, its success was ultimately driven by the company’s economies of scale, cross-selling synergies, and tight connections to banking. This paper also explores the broader context in which fire insurance operated by examining how the indigenization of insurance in China unfolded, with Chinese insurers like Tai Ping mediating the introduction of a new financial product, the transfer of new institutions, and the diffusion of new knowledge regarding risk. More generally, the history of Tai Ping and the Chinese fire insurance industry addresses a research lacuna in the history of insurance beyond the developed markets in Western Europe and North America, which has typically focused more on the experiences of British and American multinational enterprises and less on that of native companies. By highlighting the degree of institutional convergence and divergence between the Chinese insurance industry and its global counterparts, this paper contributes to a more inclusive history of the internationalization of insurance.

Research on the Factors Affecting the Total Factor Productivity of Chinese Life Insurance Companies

Based on the latest method of total factor productivity research at home and abroad, this paper uses the panel data of 17 Chinese life insurance companies from 2007 to 2016 to estimate the total factor productivity of Chinese insurance companies using the Malmquist index analysis method of DEA model. The measurement method is a regression analysis of several factors affecting the total factor productivity of Chinese insurance companies. The empirical results show that among the micro factors, the asset-liability ratio, asset turnover, operating efficiency and company size have a significant impact on the total factor growth rate of Chinese life insurance companies. Among the macro factors, GDP growth rate, inflation rate and unemployment rate have a significant impact on the total factor growth rate of Chinese life insurance companies.

A value-added view of intellectual capital and financial performance in knowledge management: A case of Chinese insurance companies

Intellectual capital (IC) has a strong linkage to knowledge management thus influencing financial performance. Using resource-based view theory, this paper aims to explore the relationships between intellectual capital and financial performance based on the data of 220 Chinese insurance companies listed in China Insurance Yearbook, from 2008 to 2017. Our study is robust for using Value-Added Intellectual Coefficient (VAIC™) and ratios as the proxies of IC, as well as return on assets and return on equities as the proxies of financial performance. Panel data regression and ordinary least squares are applied to analyse the data. Apart from the popular direct effect, we also find significant positive (negative) effects of increasing (decreasing) IC on increasing (decreasing) financial performance. However, we find no dynamic relationship between IC and financial performance. This paper provides scholars and practitioners with new perspectives on IC learning and management.

Research on the Marketing Strategy of China's Insurance Industry in the Context of Economic Globalization

ESince China's accession to the WTO, as the links between countries and regions have become closer, the changes in the Chinese market have also gradually deepened with the pace of economic globalization. Marketing strategies can no longer adapt to the development of the market economy in the new era. How to occupy a place in the increasingly competitive market, and on this basis to innovate in line with international marketing strategies has become the focus of cash Chinese insurance company reform. Especially under the conditions of frequent economic and trade activities and deepening relations between countries, traditional insurance marketing strategies and market environment cannot adapt. Therefore, this article focuses on economic globalization and hopes that this research will provide more scientifi c and effective guidance for the development of Chinese insurance companies. Therefore, this article fi rst analyzes the impact of economic globalization on international marketing, then raises some questions, and fi nally puts forward some suggestions.

Research of the System of Remoting Vehicle Insurance Estimation

The current vehicle insurance estimation model has many problems, it takes too long. Using the system of remoting vehicle insurance estimation, the picture information of the vehicle loss situation will be sent to the insurance company to assess the damage timely, do quickly see, quick decision, saving time claims, control operating costs, can improve the efficiency of the compensation management. By contrast, we can see that, the system of remoting vehicle insurance estimation surely mean long-range system than vehicle insurance estimation model, is more suitable for the current market demand. It is necessary to a large-scale promotion in the Chinese insurance companies.

Dimensions of Employee Energy and Their Differences: Evidence from Chinese Insurance Companies

The purpose of this research is to explore the structure of employee energy and analyze its differences in demographic variables as well as the differences between groups. The study collected 294 questionnaires of employees in Chinese insurance companies. Confirmatory factor analysis and one-way analysis of variance ANOVA were used in the data analysis. The results showed that employee energy is a three-dimensional concept that comprises basal energy, growing energy, and behavioral energy. Employee energy only has significant differences on monthly income and the level of positions, and the employees who have high employee energy share the characteristic of both high monthly income and the level of positions. Respondents were divided into four groups: 1 high-positive-energy, 2 low-positive-energy, 3 low-negative-energy, and 4 high-negative-energy employees. High-positive-energy employees showed the characteristics of high basal energy, high growing energy, and high behavioral energy, showing a feature of plump wings. Finally, this research put forward suggestions to provide a reference for energy management. © 2016 Wiley Periodicals, Inc.

Malaysia. A matter of risk: Insurance in Malaysia, 1826–1990 By Lee Kam Hing Singapore: NUS Press, 2012. Pp. 647. Maps, Plates, Notes, Bibliography, Index.

A matter of risk: Insurance in Malaysia, 1826-1990 By LEE KAM HING Singapore: NUS Press, 2012. Pp. 647. Maps, Plates, Notes, Bibliography, Index. doi:10.1017/S0022463414000733 This illuminating and well-researched book, written with the support of the General Insurance Association of Malaysia, is an in-depth history of the insurance industry in Malaysia. It is also timely, given the significance and indispensable nature of the global service sector. At least two-thirds of A matter of risk traces the evolution of the insurance industry since the colonial era (chapters 1-10). This is natural given the fact that the defining moments in Malaysian history required the services of the insurance sector--the First and Second World Wars, the postwar rehabilitation periods, and most importantly, the Emergency (1948-60). The final two chapters trace the trajectory of the industry from the 1960s through the 1990s. Lee Kam Hing rightly points out the large gaps in published work on the insurance industry (p. 10) and the difficulty of acquiring empirical and statistical data. Yet he has managed to uncover a vast literature on the subject by tapping into the resources available in Malaysia, Singapore, and the United Kingdom. Data is severely limited for the war years and the early postwar rehabilitation period, but the author manages to provide a detailed and comprehensive account of the insurance industry and the overall economic development of the country. This study focuses on the historical development of the insurance industry in Malaya/Malaysia as well as its interaction with the colonial and postcolonial state. Lee points out that the Western insurance companies which had moved into the Straits Settlements markets since 1793 eventually became Malaysian entities. This perhaps was a reflection of the trend of British companies divesting assets in developing countries and moving into other areas of investment and the consequence of state 'localisation'. Lee traces this shift very well, explaining along the way the trials and tribulations of these highly entrepreneurial and competitive firms. The important role of agency houses is discussed in chapter 1, followed by a detailed account of the existence of foreign and local insurance companies which at a later stage provided the platform for collaboration between British and local Chinese insurance companies. Chapter 3 evaluates the role of insurance in society, focusing on fire and motor insurance. The increased numbers of motor vehicles led to the introduction of insurance in Malaya covering motor accidents in the early 1920s; third party insurance was implemented by 1930. Three chapters cover the same period (1908-41) and discuss risks in various key commodities, mainly, the rubber and tin industries and later palm oil; dockyard risks are also discussed, given the importance of trade and shipping. New sectors such as insurance for the entertainment industry and the introduction of motorcycle insurance reflected the growing needs of a maturing society. …

Climate change as a challenge to China’s insurance industry

Purpose – This paper aims to examine the risks caused by recent climate change in China and their effects on the insurance industry. China has experienced more extreme events (floods, droughts and storms) in recent years than ever before, causing the insurance industry to pay increasing attention to the negative consequences of climate change. Design/methodology/approach – This paper reports on the frequency and severity of extreme risks caused by climate change. It examines what Chinese insurers are doing to address climate change risks and discusses opportunities for expanding their role in providing relief against natural disasters. Findings – Being professional risk managers, Chinese insurance companies need to identify and assess the impacts of climate change to play a more prominent role in a market offering great future opportunity. Originality/value – The Chinese insurance industry has not been actively involved in the management of increasing risks due to climate change. This paper will discuss the reason for this limited involvement and the ways for the insurance industry to overcome obstacles, enabling it to capitalize on future opportunities.

Empirical analysis on economic capital by TailVaR model

The model of TailVaR was used for analysis of the economic capital in this article. Three empirical works have been basically done, including the measurement of total economic capital, the calculation of economic capital for different lines of business, and the comparison of outcomes. The conclusions from the empirical analysis suggested that different methods of risk management should be implemented in different lines, in which the liability line was emphasised. More indicatively, the economic capital requirement could be reduced due to the effect of 'risk pool' for unexpected loss. Finally, recommendations on the economic capital management were proposed to Chinese insurance companies.

日中および相互・株式会社間の効率性比較からみた相互会社の国際化の評価

日中および相互・株式会社間の効率性比較からみた相互会社の国際化の評価

On Economic Capital Allocation for Property Insurance: From Aspect of Underwriting Risks in Financial Engineering

Economic capital model embodies many components, of which the measurement is a synthesis of techniques from actuarial science and financial engineering. For insurance company it is an estimate of the level of capital that a firm requires to operate its business. So this article implemented TailVaR model to empirically analyze economic capital of Chinese top six insurance companies in terms of claim ratio on two aspects. One is the measurement of total economic capital. The other is the allocation of economic capital into different lines of business. So the following conclusions can be drawn from this empirical analysis: Firstly, different lines of business should be engineered by different risk management strategies, especially the liability line needs to be improved. Secondly, the effect of “Risk Pool” can reduce the economic capital requirement for unexpected loss. Finally, this article proposed several suggestions on economic capital management for Chinese insurance companies.