Abstract

The insurance, banking and securities are the three pillars of the modern financial industry. They play an important role in financial intermediation, accident compensation and social management, and have contributed to economic prosperity, especially in recent years that there are many disasters. Facing constantly catastrophe, property insurance has played an important role of rapid recovery of production, reconstruction, maintain stability and social order in post-disaster. Since reform and open to the outside world, China insurance industry has developed rapidly and achieved remarkable results, such as the steady rise in premium income, increase in insurance density and insurance depth, growing of insurance companies, continuous development of the insurance intermediaries, the insurance regulatory function strengthened, improving of people's awareness of insurance. Insurance reflects the functions“promoting reform, ensure economic, stable social, benefit the people”. Insurance market presents a flourishing.

However, China property insurance industry is still at the primary stage, in which not only the market structure is not optimization, but also development level is low overall. As China foreign reform and open gradual deeps, more and more powerful foreign insurance companies enter China insurance market. Facing strong competitors, the only way to stay in the market of China property insurance companies is sharpen their competitive edge. Because insurance company's products are intangible and insurance industry belongs to financial services industry with the characters of brand and service, all acts in management are shape brand. So enhancing continuously their brand competitiveness is the key to winning the competing.

What are the factors affect property insurance company's brand competitiveness? How to enhance its brand competitiveness? The existing research did qualitative analysis one-sided for advertising or promotions, etc. Brand competitiveness theory in the manufacturing sector has formed a complete framework and system. Some application analysis about brand competitiveness is done in the service sector. Therefore, based on brand competitiveness theory, value chain theory and the existing research about property insurance company's competitiveness, factors affect the property insurance company's brand are given. After the empirical research, some advices enhancing property insurance company's brand competitiveness are given. The main contents include the following aspects.

1．Establish the value model of our property insurance companies

Based on Porter's value chain, combination the existing literature on property insurance company's value chain, the internal value body model and the external value chain model of property insurance company are put forward by considering the actual characteristics of insurance company. The internal value body model includes the body consisting of infrastructure, human resources, financial management and innovation, feet consisting of risk control and customer service, hands consisting of marketing sales and investment operations, and the head brand. External value chain model consists of the relationship of property insurance companies and finance companies, other insurance companies, insurance intermediaries, insurance customer respectively and their internal value bodies.

2．Refine factors affecting the brand competitiveness of China property insurance company

According to the internal value body and external value chain of property insurance company, referencing the existing research about property insurance com pany competition ability, influence factors of the brand competitiveness is put up from the angle of internal and external. Internal sources include the internal control, risk management, customer sustaining, marketing sales and investment operations. External sources include the industry environment and macro environment consisting of policies, laws, economic, and education.

3．Establish theoretical assumptions about sources of China property insurance company's brand competitiveness and empirical analysis

Based on the refining the internal and external sources of China property insurance company's brand competitiveness, considering whether the factor is easy to assessment, theoretical assumptions model for empirical research model is established. In the model, brand competitiveness is measured by brand image and profits, and the effect from the infrastructure, human resources, finance management, risk control, capital investment and macro environment are assumed. Considering the principle of data availability, index system is established.

Data is gathered from china insurance year book, SPSS17.0 and LISREL8.70 are used for verifiability factor analysis and structural equation model test respectively. The results show that the index system and data are proper. The assumptions not proved also have the appropriate explanation.

4．Point out the way to enhance the brand competitiveness of China property insurance company

According to the theoretical analysis and empirical model, advice to advance the brand competitive of our property insurance industry is given from the point of view of the country. The advice is providing a good environment for insurance industry. Then based on the empirical model results, strategy advices, including internal profitability and external displaying brand image, are put forward from the perspective of insurance company. Some advices which are not referred in the empirical model are provide, such as innovation, sales, and establishing the enterprise alliance, customer maintenance and brand spread.

In this book, China property insurance company's value model is proposed.Based on value models, sources of brand competitive are refining. Theory hypothesis model is established considering with the data available. Then empirical evidence has been done. Countermeasures and suggestions to enhance China property insurance company's brand competitiveness are put forward. This study expands the research about brand competitiveness in insurance industry. It could be referenced when brand competitiveness is done in other service industry. It also has practical significance for providing reference to managers in property insurance company when they make a decision.