NET sells the universal insurance to slam the brakes, settlement interest rate faces the turning point

By the end of last year, the internet is turning into the main battlefield of the insurance for small and medium-sized insurance companies. In the last week, the main force of net sales, Chinese longevity, Pearl River life insurance companies have been suspended network sales business, as of September 3, the third party platform Taobao Insurance currently only 4 insurance companies, such as Amway life, 7 of the universal insurance sold. According to industry analysis, the suspension of business may include network sales are not standardized, such as the excessive promotion of the expected return on investment, the universal insurance product coverage for 1 years, did not fully inform consumers of investment risk.

Regarding "the insurance debt business to present the short-term and the high income tendency", the supervisory layer has warned before will "bring the big asset mismatch and the liquidity risk hidden danger", the net sale after the brake can promptly turn to be worth paying attention.

NET selling Universal Insurance brake

This week, Taobao insurance channel a variety of universal products under the shelf, as at September 3, only 4 insurance companies a total of 7 universal Insurance products for sale.

"Daily economic news" reporter noted that, in the case of stable bank interest rates, most of the universal risk settlement rate has not been adjusted since the end of 2013, and more than 10 of the previous competition to raise the settlement rate of the hot sales scene compared to appear unusually deserted.

In fact, it is because of "high income", "low Threshold", "0 handling fee", the net sell universal insurance can enter the fast lane in the two quarter of this year. According to the data released by the China Insurance Association, the first half of the net life insurance product Universal Insurance to achieve a premium scale of 8.289 billion yuan, while the first quarter of the net life insurance (to universal Insurance) premium scale of 1.06 billion yuan.

In the first half of this year, personal insurance industry premium income of 767.13 billion yuan, of which the net sales channel 10.211 billion yuan, accounting for only 1.33%. However, in the first half of the million personal insurance premiums in net sales accounted for 13.3 yuan, compared with the first quarter of the 5.3 yuan increase of 151%.

Statistics show that in the first half of 2014, 50 personal insurance companies launched a network sales business, compared with 47 in the quarter 3. At present, personal insurance industry network products mainly for life insurance, accident insurance and health insurance, the first half of the premiums were 9.21 billion yuan, 785 million yuan and 216 million yuan. Among them, life insurance net sells the main product is the Universal insurance, the premium income accounted for 90%, and 97% are through the third party cooperation channel sale.

Settlement rate facing turning point

NET selling Universal insurance products have been down, when the resumption of sales have no news, which is closely related to the attitude of the regulatory layer.

In May this year, the regulator warned that the risk of "short money long Match" pointed to "some life insurance companies, a strong impulse to fund the accumulation of funds," said that "insurance liability business presents a short-term and high-yield tendencies, resulting in greater asset mismatch and liquidity risk".

The debt-relief of insurance products is the general trend, and the rising trend of universal risk settlement is facing the end.

Insurance companies, under the banner of "Internet cost reduction", have made no secret of the actual cost of paying third party platforms. An insurance executive who pays attention to the electricity business Channel says the costs include channel fees for Internet cooperation, product development fees, regulatory fees, management of product fees and back-office operating costs, as well as the development of system costs and personnel costs. After the sale, but also to pay the platform for technical services, that is, in accordance with volume, proportional to the Internet platform to pay fees, these are rigid costs.

For the asset side of the universal insurance products, investors are worried about the opaque disclosure of funds. In order to match the high cost of the debt side, most of these funds are for alternative assets with high yields and low liquidity, such as real estate, infrastructure, trusts, etc.

Some small and medium-sized insurance companies in order to achieve high income investment risk, even touch the red line of investment supervision. Industry insiders pointed out that small and medium-sized insurance companies because of the small amount of funds, and the amount of funds to match the selection of investment projects relatively narrow.

For the second half of the imminent start of the universal insurance rate market reform, after the CIRC issued the "Draft" request, universal insurance policy issued at the time of the death risk insurance should meet one of two conditions: first, accident and disease death risk insured amount is not less than 20% of the value of the policy account; Second, accidental death risk insurance is not less than 50% of the value of the policy account. The industry believes that for the current more focus on financial functions of the universal insurance products, the regulatory layer wants to guide insurance companies to return to security.