CHINA'S INSURANCE BUSINESS

Since implementing the policy of reformand opening,China has resumed itsdomestic insurance business that washalted for two decades.Originally,the ChinaPeople’s Insurance Corporation monopolizedall the insurance business and developedrapidly,with its structural organs distributedwidely in all the provinces,municipalitiesand counties,its staff growing to 120,000and the business expanding far beyond thegrowth rate of the national economy.But theeconomic system reform deepening

No Need for China's Insurance Companies to Fear a Foreign Onslaught

ChairmanMaYongweioftheChinaInsuranceRegulatoryCommission(CIRC)recentlyindicatedthatChinaisquickeningitspaceofopeningtheinsurancemarketbutadoptsacautiousattitudeinthemeantime.Inthenextfiveyears,Chinawillfurtherexpandtheopeningofitsinsurancemarket.Only...

Hopes of High Growth for China's Insurance Market

FavorablefactorsforthedevelopmentofChina'sinsurancemarketInitslowlevelandlowgrade,china'sinsurancemarketitselfcontainsthepotentialfordevelopmentTwocriteria-insurancedepthandinsurancedensity.havebeenusedinternationallyinanalyzingthedevelopmentpotentia...

How can technology and efficiency alleviate the dilemma of economic growth and carbon emissions in China's industrial economy? A metafrontier decoupling decomposition analysis

This paper attempts to explore the decoupling relationship and its drivers between industrial economic increase and energy-related CO_(2) emissions(ICE). Firstly, the decoupling relationship was evaluated by Tapio index. Then, based on the DEA meta-frontier theory framework which taking into account the regional and industrial heterogeneity and index decomposition method, the driving factors of decoupling process were explored mainly from the view of technology and efficiency. The results show that during2000-2019, weak decoupling was the primary state. Investment scale expansion was the largest reason hindering decoupling process of industrial increase from ICE. Both energy saving and production technology achieved significant progress, which facilitated the decoupling process. Simultaneously, the energy technology gap and production technology gap among regions have been narrowed, and played a role in promoting decoupling process. On the contrary, both scale economy efficiency and pure technical efficiency have inhibiting effects on decoupling process. The former indicates that the scale economy of China's industry was not conducive to improve energy efficiency and production efficiency, while the latter indicates that resource misallocation problem may exist in both energy market and product market.

Does community-based health insurance affect lifestyle and timing of treatment seeking behavior?Evidence from Ethiopia

Objectives This paper aims to investigate the effects of enrollment in the Ethiopian community-based health insurance(CBHI)scheme on household preventive care activities and the timing of treatment-seeking behavior for illness symptoms.There is growing concern about the financial sustainability of CBHI schemes in developing countries.However,few empirical studies have identified potential contributors,including ex-ante and ex-post moral hazards.Methods We implement a household fixed-effect panel data regression model,drawing on three rounds of household survey data collected face to face in districts where CBHI scheme is operational and in districts where it is not operational in Ethiopia.Results The findings show that enrolment in CBHI does not significantly influence household behaviour regarding preventive care activities such as water treatment before drinking and handwashing before meals.However,CBHI significantly increases delay in treatment-seeking behaviour for diseases symptoms.Particularly,on average,we estimate about 4-6 h delay for malaria symptoms,a little above 4 h for tetanus,and 10-11 h for tuberculosis among the insured households.Conclusions While there is evidence that CBHI improve the utilization of outpatient or primary care services,our study suggests that insured members may wait longer before visiting health facilities.This delay could be partly due to moral hazard problems,as insured households,particularly those from rural areas,may consider the opportunity costs associated with visiting health facilities for minor symptoms.Overall,it is essential to identify the primary causes of delays in seeking medical services and implement appropriate interventions to encourage insured individuals to seek early medical attention.

China Continues to Be World’s Second Largest Insurance Market

Allianz Group recently released the Allianz Global Insurance Report,predicting that China will consolidate its position as the world’s second largest insurance market in the next decade.The report analyzes the business performance of the global insurance market in 2023 and forecasts the development direction and trends of the global insurance industry in the next decade.2023:A year of significant growth According to the report,in 2023,the global insurance industry grew by an impressive 7.5%,which is the fastest rate since the pre-Global Financial Crisis(GFC)era.

China's Maritime Governance:Practical Evolution and Theoretical Construction

Increasingly engaged in maritime governance,China has developed its distinct vision and gradually established a complete theoretical system surrounding it.In terms of discourse,China has proposed a collection of concepts and ideas including a maritime community with a shared future,the 2lst Century Maritime Silk Road,Blue Partnerships,and marine ecological civilization.In terms of connotations,China champions such values as lasting peace,common prosperity,openness and inclusiveness,and cleanness and beautifulness.Exteriorly and interiorly,we can observe the unique character of China's vision concerning maritime governance,which will continue to upgrade and bear fruit in future practices,boosting the development of Chinese maritime governance theories,multilateral maritime cooperation,and ocean-related international legislation.Guided by its vision,China is expected to contribute more to global maritime security and marine ecological civilization.

Telematics as a Transformative Agent for the Zimbabwean Auto Insurance Ecosystem

Zimbabwe has witnessed the evolution of Information Communication Technology (ICT). The vehicle population soared to above 1.2 million hence rendering the Transport and Insurance domains complex. Therefore, there is a need to look at ways that can augment conventional Vehicular Management Information Systems (VMIS) in transforming business processes through Telematics. This paper aims to contextualise the role that telematics can play in transforming the Insurance Ecosystem in Zimbabwe. The main objective was to investigate the integration of Usage-Based Insurance (UBI) with vehicle tracking solutions provided by technology companies like Econet Wireless in Zimbabwe, aiming to align customer billing with individual risk profiles and enhance the synergy between technology and insurance service providers in the motor insurance ecosystem. A triangulation through structured interviews, questionnaires, and literature review, supported by Information Systems Analysis and Design techniques was conducted. The study adopted a case study approach, qualitatively analyzing the complexities of the Telematics insurance ecosystem in Zimbabwe, informed by the TOGAF framework. A case-study approach was applied to derive themes whilst applying within and cross-case analysis. Data was collected using questionnaires, and interviews. The findings of the research clearly show the importance of Telematics in modern-day insurance and the positive relationship between technology and insurance business performance. The study, therefore revealed how UBI can incentivize positive driver behavior, potentially reducing insurance premiums for safe drivers and lowering the incidence of claims against insurance companies. Future work can be done on studying the role of Telematics in combating highway crime and corruption.

Multi-scenario Simulation and Spatial-temporal Analysis of LUCC in China's Coastal Zone Based on Coupled SD-FLUS Model

Increased human activities in China's coastal zone have resulted in the depletion of ecological land resources.Thus,conducting current and future multi-scenario simulation research on land use and land cover change(LUCC)is crucial for guiding the healthy and sustainable development of coastal zones.System dynamic(SD)-future land use simulation(FLUS)model,a coupled simulation model,was developed to analyze land use dynamics in China's coastal zone.This model encompasses five scenarios,namely,SSP1-RCP2.6(A),SSP2-RCP4.5(B),SSP3-RCP4.5(C),SSP4-RCP4.5(D),and SSP5-RCP8.5(E).The SD model simulates land use demand on an annual basis up to the year 2100.Subsequently,the FLUS model determines the spatial distribution of land use for the near term(2035),medium term(2050),and long term(2100).Results reveal a slowing trend in land use changes in China's coastal zone from 2000–2020.Among these changes,the expansion rate of construction land was the highest and exhibited an annual decrease.By 2100,land use predictions exhibit high accuracy,and notable differences are observed in trends across scenarios.In summary,the expansion of production,living,and ecological spaces toward the sea remains prominent.Scenario A emphasizes reduced land resource dependence,benefiting ecological land protection.Scenario B witnesses an intensified expansion of artificial wetlands.Scenario C sees substantial land needs for living and production,while Scenario D shows coastal forest and grassland shrinkage.Lastly,in Scenario E,the conflict between humans and land intensifies.This study presents pertinent recommendations for the future development,utilization,and management of coastal areas in China.The research contributes valuable scientific support for informed,long-term strategic decision making within coastal regions.

Optimal Insurance with Background Risk under the Ambiguity and Belief Heterogeneity Structure

In this paper, we discuss the optimal insurance in the presence of background risk while the insured is ambiguity averse and there exists belief heterogeneity between the insured and the insurer. We give the optimal insurance contract when maxing the insured’s expected utility of his/her remaining wealth under the smooth ambiguity model and the heterogeneous belief form satisfying the MHR condition. We calculate the insurance premium by using generalized Wang’s premium and also introduce a series of stochastic orders proposed by [1] to describe the relationships among the insurable risk, background risk and ambiguity parameter. We obtain the deductible insurance is the optimal insurance while they meet specific dependence structures.

A Market Model of Risk Transfer and Insurance

We introduce a model of a market where risk-averse consumers pay a fee to transfer their future losses to one or more firms.The future loss of each consumer is stochastic with a unique,known mean and variance.The law of large numbers allows the firms to know with certainty the expected aggregate loss of the consumers to whom they sell.The model could describe the behavior of agents in the market for property insurance where an insurance company sells a single type of policy to a specific group of consumers based upon the expected losses of those consumers and their willingness to pay for coverage.The model demonstrates how a single firm can choose the optimal segment of the market to which they sell a policy and how that choice might change when the distribution of consumers and their risk aversion changes.The model also demonstrates how two firms might engage in a cooperative strategy and share the market.The model shows how a firm entering the market will find it more advantageous to target a segment of the market with consumers that have a lower expected loss.

Analysis of Drug Medical Insurance Access Pricing Based on the Perspective of Binary Equilibrium

Objective To study the influencing factors in the process of national medical insurance negotiation and drug pricing from the dualistic equilibrium perspective,and to provide reference for the harmonious management of drug pricing in China.Methods Through the literature analysis and policy review,the pricing subject,pricing basis and price control system in the pricing process of medical-accessed medicines were analyzed from the perspective of binary equilibrium and harmonious management.Results and Conclusion It is found that four balances in the drug pricing process,two balances in pricing basis and three balances in price control system need to be considered,respectively.Drug pricing is the key content of national medical insurance access,which is also the hotspot of the policy in the pharmaceutical fields in recent years.Drug pricing not only reflects the value of drugs,but also reflects a lot of top-level designs of binary equilibriums in medical insurance policy.While the rational design of drug pricing requires the joint efforts of the government,pharmaceutical companies and relevant experts to comprehensively consider many equilibriums,so as to improve the relevant systems.

Research on the Establishment of a Long-Term Care System for the Elderly with Alzheimer’s Disease Under the Background of Long-Term Care Insurance: A Literature Review

With the aging of the country’s population structure,the problem of social pensions is becoming more and more serious.As for the issue of social pension,the elderly with Alzheimer’s disease are a special group,and the issue of care services for these elderly has attracted widespread attention from society.However,judging from the current level of social security provided to the elderly with dementia in the country,there is a serious imbalance between supply and demand.Therefore,this problem needs to be solved urgently and is of great significance for further improving the country’s social pension security system.Routine care is limited to hospitals and mainly focuses on the patient’s condition.Patients fail to receive comprehensive care services and the effect is not ideal.Therefore,in order to improve patients’cognitive function and quality of life,and learn from international experience,a“community-institution-home”three-dimensional linkage care model based on long-term care insurance can be established.The application of this model can effectively solve and further improve the country’s elderly care and social security system.

Investigating the Disparities of China's Insurance Market Based on Minimum Spanning Tree from the Viewpoint of Geography and Enterprise

In this paper, we investigate the disparities of China’s insurance market from the viewpoint of geography and enterprise by using the monthly data from January 2006 to December 2015. We divide the whole insurance market into two parts, namely property insurance and personal insurance.By constructing and analyzing minimum spanning trees of insurance market, we obtain the results as follows:(i) The connections between provinces are much closer than those of firms, and there are regional links between neighboring provinces in the minimum spanning tree(MST); and(ii) the domestic funded firms and foreign funded firms form two explicit clusters in the MSTs of property and personal insurance market.

China's Agricultural Insurance is Catching Up

China’s agricultural insurance premium,which experienced a sharp annual increase of27.4%to RMB30.7 billion,only represented about0.5%of Chinese agricultural GDP in2013.China is one of the largest agricultural economies globally.According to the Statistics Reoort for 2013published by the National Bureau of Statistics of China in February 2014and data from the Food and Agriculture Organization of the United Nations,by the end of 2013,China’s cereal,cotton,meat and aquatic production reached 601.9 million tons,6.3 million tons,85.4 million tons and 61.7 million tons,representing 23%,25%,28%and37%of the world’s annual production respectively.As of the end of 2013,the number of people employed by the agricultural sector was approximately241.7 million,or 31.4%of China’s total work force.China is among the few countries most affected by natural disasters to which agricultural sector is particularly venerable.