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Life Insurance from 1762 into the modern stage of development, and now has 200 years of history, to understand the different stages of the process of national development and characteristics of life, no doubt study was to investigate the development of China's life insurance has very important significance. Internationally, many countries already have hundreds of years of history of the insurance, which is a valuable asset we have, to learn to draw on their valuable experience in the development process, allows us to avoid detours. Japan is our neighbor, the life insurance industry has experienced rapid development, has created the myth of the history of the insurance world, but in its prosperity but hidden behind a potential crisis, excessive reserve interest rates, regulatory excessive care, their risk awareness is low, eventually led to the transfer of the century when the collapse of the wave, myths attributed to burst. Although our country's economic level there is a gap with Japan, at different stages of development, but in the life insurance market, there are many similarities between the two, for example, have a higher rate of household savings in Japan after the war also experienced Evolution of smaller families and so on. To understand the historical development of the insurance, summarize, and lessons learned through insurance, the insurance industry today smooth development needs, but also carry out the Insurance Research needs. Therefore, the process of development concerns Nippon Life Insurance study and absorb its useful experience for China's life insurance industry to accelerate integration into the global economy, new ideas, improve management, enhance core competitiveness, to achieve leapfrog development of great significance. This article includes the introduction and the body portion, wherein the body part is divided into four chapters. In the preface, the author explains the meaning and purpose of essay writing, elaborated research situation at home and abroad and papers innovations. Text The first chapter introduces the idea generation life insurance and life insurance system formed by a number of important historic event, describe life from the original embryonic state to the world's first truly scientific management of life insurance companies established Evolution. Then introduced the life insurance product development process and its functions, along with the development of productivity, people want to get more protection, therefore, in addition to the initial death benefit only insurance, the gradual emergence of life insurance, life and death, endowment insurance and annuity combined insurance, which we call traditional life insurance products. Productivity continue to develop the capital market continues to develop and mature, innovative life insurance products also will come out. Finally, from the economic, demographic, environmental and financial policies of social security aspects to explain the factors that influence the development of life insurance. The second chapter analyzes our neighbors - Nippon Life Insurance of development. First, a brief introduction to the origins of the Japanese life insurance and preliminary development. Secondly, focusing on life in Japan after World War II and the reasons for the rapid development. Japan's rapid economic growth after World War II, in 1968 GDP reached 100 billion U.S. dollars, in Western countries, economies of scale to become second only to America's second largest economy. Per capita GDP reached $ 2,000 in 1971, three years after the breakthrough 3000 U.S. dollars. As income levels increase, life insurance rapid development. Another postwar life insurance companies reduce premiums, and vigorously promote and popularize insurance knowledge, and actively develop new types of insurance, effective use of insurance funds, investment income and other measures to improve life for the rapid development and make a contribution. Again, the analysis and the reasons for the decline of the Japanese life insurance. 20 In the early 1990s, Japan's economic bubble burst, the stock market and real estate prices plummeted, the Japanese life insurance companies to form a series of blows, life insurance funds is not satisfactory, the old policy interest deficit seriously, many large life insurance company credit rating dropped, some of the medium-sized insurance companies went bankrupt. The main reason: First, the bubble economy era, the life insurance company in order to quickly capture market share, increase its premium income, has taken extensive business model, a large number of sales of high reserve rate policy, making insurance policyholders enjoyed while received higher than bank deposit rates over the same period a predetermined rate. This initiative is undoubtedly the Japanese life insurance premium income increased rapidly, making the Japanese quickly rule the roost in the world insurance market. However, given the high rate of investment department intended to increase the pressure, but also planted a lot of problems, leading to a life insurance company for bankruptcy incentives. The second is a huge amount of high-risk investment failure, such as investment securities and foreign exchange derivatives issued by companies with stock index linked bonds. Three foreign life insurance companies are subject to the inroads into shock. Because the insurance companies in Japan after World War strict government control and under the protection of the lack of operational autonomy, lack of competitiveness, the Japanese financial market is gradually opening up, Europe has a large insurance company and quickly occupied the Japanese life insurance market. Fourth, population decline, reducing household savings and life insurance market is saturated and other social impact of changes in the economic environment. Given Japan's domestic life insurance business becomes saturated, various life insurance companies have turned to emerging markets in Asia to seek development opportunities, and in 2007 completely liberalized banking and insurance products. Finally, by comparing the two countries based on the life insurance market conditions, analyze Nippon Life Insurance Development on China Life Insurance Development. The third chapter describes the development process of our life and there are still problems. First introduced the reform and opening up, China People's Insurance Company life insurance industry during the development of monopoly status. Then introduced the production life insurance separate operation since the development process. Finally, the analysis focuses on the WTO, as well as three-year transitional period after the full opening of the life insurance industry, China's life insurance industry to carry out major work, achievements and experience. The end of 2008, there were 56 life insurance companies, including 30 Chinese-funded companies, foreign companies 26; comprehensive life insurance companies 47, professional health insurance company 4, pension insurance companies 5. Currently, the life insurance market has formed a state-owned insurance company and joint-stock companies as the mainstay, comprehensive and professional insurance companies coexist, play together and foreign insurance companies, many insurance companies competing development of the new market structure. Although the WTO, the life insurance industry has made achievements attracting worldwide attention, but the rest of the world insurance market is mature compared to countries in the development of China's life insurance industry, there are still many problems: First, the high degree of market concentration, the effective supply inadequate; Second, the absence of regulation of new marketing channels; Third, the ability of insurance funds and investment income is low; Fourth, the financial alternative products continue to emerge, business competitive pressure becomes larger. In view of the life insurance industry are still some problems, the fourth chapter of our restructuring proposals for the development of life insurance. First introduced in transition, the life insurance industry will face social, economic, international and other development environment, on the whole, the life insurance industry has both challenges and opportunities inherent both difficulties, there are favorable conditions. China's life insurance industry should adapt to the situation, while avoiding disadvantages, accelerate development. Next, from the insurance supply, demand, regulation and other aspects of our policy life insurance industry healthy long-term development proposals. Supply side, life insurance companies should change their business concept, focus on economic efficiency, improve the structure of insurance products, and correctly handle structural adjustment and anti-risk, steady growth of relations, overall regional coordinated development of urban and rural coordinated development; same time to strengthen product development, improve effective supply; and ongoing service innovation. The demand side, consumers should be strengthened risk education and insurance literacy, enhance the people's sense of insurance, and guide rational consumption; same time, through tax and other incentives to enhance the enthusiasm of residents actively insured. Regulatory policies, accelerate the process of internationalization of the life insurance industry regulators. Strengthen the solvency of insurance companies regulated; life insurance funds to strengthen supervision and prevent investment risks; enhance life insurance company's information disclosure, strengthen social supervision by public opinion; strengthen life insurance salesmen team management, establish and improve risk prevention and emergency response mechanism. Meanwhile regulators should give full play to the guiding role of policy to guide China's life insurance industry, stable and healthy sustainable development. In this paper, the use of empirical analysis, comparative analysis and inductive analysis approach, citing extensive literature and data presented in Japan and China Life Insurance Industry development process. Analysis of the reasons for the vicissitudes of life in Japan, sum up experience and lessons, combined with China's national conditions and China's life insurance industry is facing economic, social and international environment for China's life insurance industry to make some suggestions.
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