在消费者需求多元化与监管环境趋严背景下，保险代理人数量高增长推动的上一轮保费增长周期已经结束，未来属于高质量发展的专业保险代理公司。从实务角度，我国保险代理行业相较国外还处在发展早期，公司数量众多但质量参差不齐。从理论角度，保险业效率研究集中在直保公司、创新险种等领域，关于我国保险代理公司经营效率的定性与定量研究亟待丰富。因此，评价保险代理公司经营效率、探究效率的影响因素，不仅有利于保险代理公司本身增效，也对监管机构、与之合作的直保公司有参考意义。本文首先梳理我国保险代理行业的发展历程与现状，总结经营模式、竞争格局与监管环境。然后选取2016年至2019年共87家全国性和区域性经营的保险代理公司为样本，用三阶段DEA模型和DEA-Malmquist指数模型分别评价静态与动态经营效率。基于分析结果，探究我国保险代理公司经营效率的影响因素。从静态经营效率角度，我国保险代理公司的综合技术效率整体不高，规模效率低是整体效率水平低下的主要原因。全国性经营的保险代理公司的综合技术效率、规模效率整体高于区域性经营的保险代理公司，而二者的纯技术效率接近。从动态经营效率角度，我国保险代理公司的全要素生产率指数波动大，主要来自规模效率指数和技术进步变化指数的大幅波动。全国性经营的保险代理公司的全要素生产率改善幅度整体高于区域性经营的保险代理公司。两类公司的技术进步变化指数差异不大，主要差异来自技术效率变动指数，具体是规模效率变动指数差异大。以上分析结论与静态经营效率结论一致。回归结果表明，公司经营年限和经营区域GDP同比增速对综合技术效率、规模效率有负向影响，公司杠杆率对这两个效率指标有正向影响，经营区域的扩大可以提高经营效率。基于以上分析，本文尝试给保险代理公司、直保公司、保险监管提出对应建议。
With diversified consumer demands and stricter regulation, the future of insurance belongs to professional insurance agencies. In practice, China's insurance agency industry is still in early stage. In theory, it is urgent to enrich qualitative and quantitative research on operating efficiency of insurance agencies. Therefore, the study on influencing factors of such efficiency is not only beneficial to insurance agencies, but also of significance to the regulatory authorities and the direct insurance companies cooperating with them.This paper first reviews the history and status quo of China's insurance agencies, and summarizes the business model, competition and regulation. Then 87 national and regional insurance agencies from 2016 to 2019 were selected as samples to evaluate static and dynamic operating efficiency using three-stage DEA model and DEA-Malmquist index model respectively. Based on the results, the influencing factors are explored.With regard to static operation efficiency, the overall technical efficiency of insurance agencies is not high, the low scale efficiency being the main. The overall technical efficiency and scale efficiency of national insurance agencies are higher than those of regional insurance agencies, while the pure technical efficiency of them is near.With regard to dynamic operating efficiency, the total factor productivity index of insurance agencies fluctuates greatly, mainly resulting form the large fluctuation of scale efficiency index and technological progress change index. The total factor productivity improvement of agencies with national operation is generally higher than that of agencies with regional operation. There is little difference in technological progress change index between them. The main difference comes from the technological efficiency change index, specifically the scale efficiency change index. The above analysis conclusion is consistent with the static operating efficiency conclusion.The regression results show that the company's operating years and the year-on-year GDP growth rate of the operating region have a negative impact on the comprehensive technical efficiency and scale efficiency, while its leverage ratio has a positive impact them. Still, expansion of operating region can improve the operating efficiency.
