I. Development Status of China Insurance Market

First, China's insurance market is basically in an oligopoly state.

This paper quantitatively analyzes the monopoly positions of China People's Insurance Company, China Life Insurance Company, China Ping An Insurance Company and China Pacific Insurance Company in China's insurance industry from the aspects of property insurance and life reinsurance.

Second, the development of insurance industry in China is still at a low level.

The insurance width and depth of China's insurance market indicate that the level of China's insurance market is relatively low. It is particularly emphasized that in the process of establishing a perfect market economic system in China, the insurance awareness and investment awareness of China residents need to be improved.

Third, the insurance market structure in China is unevenly distributed.

As far as the distribution of insurance companies in China is concerned, the headquarters of Chinese and foreign insurance companies are basically located in Beijing and coastal cities in 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.

Fourthly, the professional management level of China insurance industry is not high.

1, extensive management and single sales model;

2. The product structure is simple and the supply is insufficient;

3. Lack of professionals is a low level of management.

Fifth, the supervision, laws and regulations of China's insurance industry are not perfect.

Compared with foreign insurance laws and regulations, China's insurance laws and regulations are not perfect.

Second, China's insurance development countermeasures

In view of the above problems, the solutions are put forward.

1. Deepen reform and improve corporate governance structure.

The main idea of insurance reform and development in China is to continue to deepen the reform of insurance enterprises, implement various reform measures, introduce and deepen reforms, encourage joint-stock insurance companies to improve their corporate governance structure by absorbing foreign capital and social funds, support qualified joint-stock companies to list at home and abroad, and establish modern insurance enterprises that meet the requirements of market economy development. Continue to cultivate a multi-level insurance service system, continue to cultivate and develop large international insurance groups, and allow insurance companies to integrate internal resources according to market positioning and business development needs to become enterprise groups with outstanding main business advantages. Improve the insurance market access mechanism, increase market participants, and inject vitality into the insurance market. Actively cultivate the reinsurance market, support insurance companies and other investors to set up insurance companies, and enhance the overall underwriting capacity of China's reinsurance market. Standardize the development of insurance intermediary market, encourage and promote professional insurance intermediary institutions to innovate their business models, give full play to their professional business advantages, and gradually establish an insurance market system with open agreements and orderly competition with China characteristics.

2. Improve the level of supervision and guard against risks.

It is necessary to improve the level of insurance supervision and strengthen international insurance supervision cooperation. First, strengthen the system construction of solvency supervision, increase the punishment for illegal institutions, and effectively protect the interests of policyholders. The second is to strengthen the supervision of the use of insurance funds, actively explore the supervision methods and means suitable for the use of insurance funds, and establish a dynamic risk monitoring model for the use of insurance funds. The third is to strengthen cooperation with the International Association of Insurance Supervisors. Continue to study the advanced experience of international insurance supervision extensively, speed up the pace of integration with international practices, and gradually realize the internationalization of insurance supervision. China insurance market is the largest potential market in the world and an important part of the world insurance market. China's insurance industry will surely achieve greater development in the process of opening up.

Third, the development trend of China insurance industry

Under the general trend of global economic integration, it is the only way for China's insurance industry to be in line with international standards. After China's accession to the WTO, China's insurance companies will set up branches abroad to conduct business or buy shares of foreign insurance companies, and even buy some foreign insurance companies. In terms of insurance development, we will actively develop high-tech insurance such as nuclear energy, satellite launch and oil development. In business operation, through the reinsurance separation or mutual agency of domestic and foreign companies, we will strengthen technical cooperation and business cooperation with the international insurance (reinsurance) market and actively carry out international insurance business.