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Policy favorable "insurance intermediary hot" but professional service still lack

2018/03/17

Author:管理员

The extent of the heat of the insurance intermediary licence can be informed by the approval document of the CIRC one or two.

CIRC data shows that as of 2017 three, the national Total Insurance Intermediary Group 5, National Insurance Agency 223, regional insurance Agency 1549, insurance brokerage company 483, insurance company 336.

At present, the capital is pouring into the insurance intermediary industry, including Tencent, Baidu, Alibaba, as well as the recent indirect access to intermediary plates, such as the United States and other Internet big guy. This year, the government's work report pointed out that the 2018 should promote the formation of a comprehensive and open new pattern.

Among them, specifically mentioned the liberalization of foreign-funded insurance brokerage company business scope restrictions. According to the analysis, from the international experience, the insurance broker channel will be one of the main channels in our future insurance industry. Whether from the product sales range or professional quality, insurance brokers have a certain advantage.

Insurance Brokers sell a wider range of agreements with a number of insurance companies, but also make the insurance broker in the marketing will be more objective relative to the insurance agent, to facilitate the recommendation of professional insurance programs to address consumer real insurance needs.

The process of insurance production and marketing separation accelerates For the "liberalization of foreign-funded insurance brokerage company business scope restrictions," Fudan University, China Insurance and Social Security Research center Professor Xu Leisure, said the Chinese business newspaper, this move shows the Chinese insurance market continued to remain open to the attitude, proved that China's insurance market in-depth open and frank attitude and determination.

Zhu Junsheng, deputy director of the Financial Research Institute of the Development Research Center of the State Council, said earlier that the scope of business of foreign-funded insurance brokerage firms was more restrictive. "It means that foreign brokerage companies will play a more active role in China's insurance market, which is of great significance for the introduction of the operating experience of foreign brokerage companies, the cooperation between domestic and foreign insurance companies and the improvement of insurance broker market."
"Zhu Junsheng said. Xu Leisure further points out that the diversification and diversification of the insurance brokerage market is more advantageous to a healthy development market.

It is also a measure to benefit the future Chinese insurance consumers, especially small and medium-sized enterprises and individuals, can also enjoy the professional services of foreign insurance brokerage companies. A number of senior insurance intermediary analysts believe that the international insurance brokerage market is now quite mature, they develop a long time, orderly. For example, insurance brokerage companies in developed countries such as Europe and America have a history of hundreds of years, and have formed a system of operating norms and orderly competition. Second, the business scale is large, the market share is high. In foreign countries, the insurance agent is the majority of insurance income of insurance company.

Among them, especially the insurance brokers accounted for the high. In the UK, more than 60% per cent of the market for property insurance is occupied by insurance brokers, especially those insured by Lloyd's. Moreover, the service scope is broad, the profession is strong. The International Insurance Brokerage agency has a group of experts in insurance and other industries that provide professional consultancy services based on customer demand for risk assurance.

At the same time, their business diversification, industry norms and strong awareness is also worthy of our insurance intermediary market learning. Liu Lichong, president of Pan China Insurance Sales and service group, told reporters open the scope of foreign insurance brokerage company business, the domestic market will have an impact, foreign capital experience, broad vision, with the global insurance experience to carry out China's business, product design and breakthrough point will be very different, such as product model, the choice of reinsurance,

Product pricing will have a lot of innovation and different perspectives, in addition, the international insurance industry high-end talent into the country, will bring new impetus to the development of the industry. Insurance broker Yin Teifen that foreign insurance brokerage companies can help the mainland market to develop an international perspective, improve their risk management level and core competitiveness. However, the main business direction of foreign insurance brokerage companies from property insurance to health insurance and other fields of infiltration, will aggravate the competition pattern, this will push the insurance company to accelerate the process of separation of production and marketing.

The "Golden Age" of insurance intermediaries

Data show that since April 2014, the launch of the insurance intermediary market comprehensive clean-up work, China's insurance intermediary market into a new stage. August 2014, the State Council issued "on speeding up the development of modern insurance services in a number of views" (hereinafter referred to as "new Country 10"), give full play to the role of insurance intermediary market. Continuously improve the professional and technical ability of insurance intermediaries, play the intermediary agencies in the risk pricing, disaster prevention and loss, risk consultancy, loss assessment, claims services and other aspects of the positive role of better for the insurance consumers to provide value-added services.

Optimize the structure of insurance intermediary market, standardize the market order. In September 2015, the CIRC issued the opinion of the CIRC on deepening the reform of the Insurance intermediary market (hereinafter referred to as the "reform opinion"). "Reform views" clear, the overall goal of deepening the reform of the insurance intermediary market: Let go of the front end, the management of the good back, sound support to encourage innovation in the industry of the institutional mechanism, the development of a group of professional characteristics and international competitiveness of the leading insurance intermediaries, a large number of micro- Store the operation of the regional professional agency, the formation of a self-employed, self-responsible, embodies the public entrepreneurship, the people of the creative spirit of independent individual agent groups.

Throughout 2016, the CIRC issued 69 intermediary licences.

Liu Jingchen, chairman of the company's insurance agency, said that the golden age of insurance intermediaries had arrived, it was the beginning of crowded, this is the influx of capital talent, but also the impulse and thinking stage, the opportunity door has been opened. Liu Lichong that, "the CIRC issued in August 2013 on the general type of life insurance rates policy reform related matters notice," 2014 three officially implemented the scheduled rate of market-oriented products at that moment, it opened the golden age of insurance intermediary, this is a time of trans-eras. At that moment, China's life insurance production and marketing separation accelerated, the three-year intermediary rapid development also proved this point.

” But Xu Jiankun, a senior researcher at the Institute of Finance and Research, said that the golden age of insurance intermediaries is still too early, although production and marketing separation is a big trend, but can become a trend is not short-term results, China's insurance professional intermediary contribution to the insurance market is still low.

According to the data disclosed by the CIRC, by the end of the three quarter of 2017, our insurance intermediaries realized a total premium income of 2.6837 trillion yuan, an increase of 24.5%, which accounted for 87.6% of the total premium income in China. Among them, the agent channel, professional agent channel and marketing personnel channels accounted for 38%, 7.8% and 41.8% respectively.Professional agents and brokers accounted for less than 10%.

Insurance brokers need to strengthen professional differences

According to the reporter incomplete statistics, from January 2018 to March 13th, the CIRC approved a total of 8 insurance intermediaries to carry out related business, of which 7 are insurance brokerage companies, which can also see the capital side of the establishment of insurance brokerage company's favor. The recent study of GF Securities analysis, from the international experience, the insurance broker channel will be our future insurance industry may appear in one of the most important channels. At present, the main insurance channel in our country is mainly rely on the agent, but at present, in addition to the large insurance companies have the ability to form their own agent team, small and medium-sized companies have lost the opportunity to advance the layout agent channel.

And the industry personnel high-speed increase will not continue, all for the broker to provide a space for development. Professional analysts believe that, at present, the high growth of insurance agents to conceal the overall quality of insurance agents is still low, the retention rate is not high disadvantage factors.

At the same time, long-term life insurance products related to health, pension, asset inheritance and so on, the complexity is high, need to have professional analytical ability of insurance brokers to provide consumers with insurance configuration advisory and customized services. Zhu Junsheng pointed out that from the CIRC issued the "insurance broker regulation" can be seen that the threshold of insurance brokers than the threshold of insurance agents more stringent audit of shareholder qualification, will promote the development of professional direction of insurance brokers.

Insurance broker Leung said that the insurance broker accepted the applicant's entrustment, representing the interests of the insured. This is essentially the difference between an agent accepting an insurance company's entrustment and dealing with a business within the scope of an insurance company's authorization. Second, insurance brokers are free to engage with insurance companies to conduct product screening or insurance scheme design across the market. The broker can choose the product from the market, select the best combination from the responsibility and service. Moreover, the insurance broker's service core has three major items: before the insurance risk analysis, the plan customization and the product screening, handles the insurance and the preservation in the process, handles the insurance claim claim support and the assistance. And the agent's service core does not handle claims support and assistance.

The natural advantages of insurance brokers are obvious, which may be the important reason for the rapid development of insurance brokerage business in recent years. He Xiaowei, deputy director of the Department of Risk Management and insurance, said that in some areas, such as engineering insurance, ship insurance, freight insurance, aviation insurance, insurance brokers have already become widely recognized communication channels between enterprises and insurance companies.

In the field of personal insurance, insurance brokers are gaining more and more recognition, but their status in the short term beyond the insurance agent has a certain degree of difficulty. Source: China Business Report 2018-03-17

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