Many insurance companies marriage P2P

P2P recently exposed the risk of accidents in succession. Following a large number of peer-to-peer P2P platform was "run way", the investment company as a life-saving straw guarantee company also staged "lost touch" drama, triggering a crisis of confidence in security broke out. More importantly, the current mode of cooperation between P2P platform and guarantee company is not approved by regulators, and the guarantee company itself is more criticized for its illegal operation. How to introduce a fair and secure third party to P2P "to guarantee" has become an important issue, so insurance companies into the market and regulatory horizons.

Many insurance companies marriage P2P

Beijing Commercial Daily reporter learned yesterday, following the P2P platform Beijing Choi Road and Min An Insurance, PICC North Branch signed a cooperation agreement, recently, the North Branch of China Life Insurance and intends to P2P industry boss Yixin to carry out financial institutions Loan loss credit insurance business cooperation. Driven by "to guarantee" to test the new pattern of marriage insurance of P2P company.

From the Beijing Commercial Daily reporter to get underwriting program point of view, China Life Insurance North Branch and Credit Suisse cooperation model is from Yixin as the insured, CNAC Trust as the insurer to the North Life insurance insured financial institutions Loan loss credit insurance. In the event that the borrower fails to repay the repayment date as stipulated in the Loan Contract, PICC North Branch will compensate the PICC within the principal of the loan according to the agreement of the insurance contract.

The pilot project is Yixin Huimin Investment Management (Beijing) Co., Ltd. and CATIC Trust Co., Ltd. "Yixin - AVIC Trust microfinance series of funds trust plan." It is understood that the product is issued on a regular basis each month. The trust fund is completed by CATIC Trust. Loans to borrowers approved and approved by Yixin are granted by Credit Suisse. Credit and risk management services are provided by Yixin for the trust plan.

Guarantee + P2P risk highlights

It is understood that the current P2P platform and security companies to carry out the mode of financial guarantee can be divided into two types: First, the platform itself has a guarantee company, the second is to cooperate with third-party guarantee company. According to the current regulatory trends, these two models have greater risk, or both will be history.

Wang Yanxiu, director of innovation supervision department of China Banking Regulatory Commission, said that P2P should not pool funds. Both in-transit funds and investors' funds should be managed by banks or third-party payment institutions. P2P itself should not be guarantied, nor shall it be able to promise the return of loan principal, nor Bear the credit risk and liquidity risk.

Luk Kwong-seok, which is preparing to "guarantee", once revealed that "Luk-Jin peer-platform registration accounts 1.75 million, the number of borrowers 100,000, the average loan size of 59,000 yuan, the deadline of 23 months; bad debts The rate is only 1.5% due to the short duration of the business, the large number of outstanding loans yet to be paid and the expected future rise. " Correspondingly, the pressure to pay the guarantee company increases.

"At present, there is a proliferation of pseudo-guarantee and a large number of over-guarantee in the network-loan platform. P2P platforms under guarantee mode still face greater risks, and the coverage of the risk reserve model is also limited." A P2P platform official said .

Two major issues still need to be considered

"Compared with the guarantee mode, the combination of P2P and the insurance industry will be more advantageous." Relevant person in charge of Choi Loong believes that in terms of capital security, through cooperation with insurance companies, it provides platform risk reserve mechanism for customers' funds and The dual protection of property insurance to achieve the safety management of customer funds and the formation of a relatively closed financial environment, the move deserves to be promoted in the industry.

In this regard, the insurance industry, said the insurance company has a wide range of operations, asset size, covering a wide range of geographical advantages and many other aspects, and has strong risk control capabilities, which are P2P companies for cooperation prospects are good. And the guarantee insurance and credit insurance are all insurances insured by credit risk. The principle is to transfer the debtor's guarantee responsibility to the insurer, and when the debtor can not fulfill its obligation, the insurer should bear the liability for compensation. The biggest benefit of insurance is that the plate is big enough. To give an inappropriate example, if anyone can take over the risk of P2P, it is estimated that only the powerful capital.

However, it should not be overlooked that the products launched by insurance companies are credit insurance products, with a relatively low market share in insurance market and relatively high moral hazard. Previously, they were rarely applied in the field of financial sector. Regulators have previously suggested that the introduction of insurance coverage of P2P platforms need to consider two issues, first, the transaction structure, the security project or insurance platform, because the two corresponding to the transaction structure is very different; the second is in Without enough data and experience accumulated under the premise of conducting business in the future, how to set the scientific product rates. In view of this, insurance companies act as "guarantee" although they are on the right track, but they have a long way to go.

Beijing Commercial Daily reporter Ma Yuan Yue Chen Tingting