Looking at the development of China's insurance industry in the past 20 years, objectively speaking, China's insurance market is still in the primary stage of development, mainly in the following aspects.
First of all, China's insurance market is basically in an oligopoly state. According to the analysis of China's current insurance market, China People's Insurance Company, China Life Insurance Company, China Ping An Insurance Company and China Pacific Insurance Company have occupied 96% of China's current insurance market. Among them, PICC and China Life Insurance, which are wholly state-owned, account for nearly 70% of the insurance market. China Life holds 77% of the life insurance market, while PICC holds 78% of the property insurance market. China People's Insurance Company alone occupies 82% of the motor vehicle insurance market. That is to say, although China's insurance market has initially formed a competitive pattern, it is one of the characteristics of China's insurance market that the market is highly monopolized by wholly state-owned insurance companies, especially a few insurance companies.
Second, the development of insurance industry in China is still at a low level. According to the development law of insurance industry, premium income generally accounts for 3-5% of GDP in that year. As far as western developed countries are concerned, the annual premium income generally accounts for about 8- 10% of their GDP, while China's total premium income from 1998 only accounts for about 1.5% of GDP, ranking 70th in the world. According to the per capita premium, it is only 100 yuan. Although it has undergone earth-shaking changes compared with the per capita shortage at the beginning of re-insurance 10 yuan, it still ranks 80th in the world. Of course, we still have a long way to go to reach the level of per capita premium of more than $2,000 in western developed countries. Because, on the whole, China's economy is underdeveloped and the per capita income level is low, but it also shows that in the process of establishing a perfect market economic system, the insurance awareness and investment awareness of Chinese residents need to be improved.
Third, the insurance market structure in China is unevenly distributed. Judging from the current distribution of insurance companies in China, the headquarters of 30 Chinese and foreign insurance companies are basically located in the coastal cities of Beijing and China. Although branches of insurance companies have been generally established in Chinese mainland, most of them are concentrated in densely populated and economically developed areas and cities, which has caused the unbalanced development of the insurance market. This unbalanced distribution is not conducive to the long-term development of the insurance industry in China. In particular, although the number of foreign-funded companies and joint venture companies has accounted for 56.7% of the total number of insurance companies in Chinese mainland, 65,438+000% of them are located in coastal and developed cities, and there are no branches in various places, so their market share only accounts for 0.69%.
Fourthly, the professional management level of China insurance industry is not high. Extensive management and single sales model, simple product structure and insufficient supply, and lack of professional talents are the remarkable characteristics of low management level. At present, various insurance companies have developed and sold a variety of life insurance products, but the same product structure and insufficient insurance liability are the common voices of the industry. Among the insurance professionals in China, less than 30% have received systematic insurance education and have professional insurance level. Among them, Mao is a senior talent who knows both the international insurance market and actuarial and computer technology. This shows that the level of insurance management in China is still in the primary stage of development.
Fifth, the insurance market has not yet formed a complete system. At present, China's insurance market is big at both ends and small in the middle, that is, the insurance subject and the insurance market are developing rapidly, while the intermediary organizations are developing slowly. So far, only nine professional insurance institutions and three brokerage companies have been officially approved according to the prescribed procedures.
Sixth, the development of reinsurance market lags behind, and insurance supervision needs to be strengthened urgently. For more than ten years, China has paid attention to the construction of direct insurance market and neglected the cultivation of reinsurance market, which has led to the failure of domestic insurance companies to properly handle the risks they bear, and improper reinsurance plan arrangement often leads to losses; Trust among peers is insufficient, reinsurance behavior is not standardized, and foreign currency insurance business relies too much on foreign reinsurance market. At the same time, China's insurance supervision
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