CBRC regulates sales of three major insurance companies

The first of the companies with a high ratio of bank insurance, the impact on the new business value of the company is far less than the impact on the size of the "financial New Network" (reporter Chenhuiying) the CBRC recently issued the "China Banking Regulatory Commission on further strengthening of commercial banks compliance sales and risk Management notice" (hereinafter referred to as "notice"), require commercial banks to comply with the "notice", To complete the liquidation of the irregularities in the course of the agency insurance business before the end of the year.　　Affected by this, the three major insurance companies fell. Citic Securities estimates that at present the bank insurance market about 30%-50% of the silver and insurance products and more than 60% of the Silver warranty payment products are through the Bank of the office sales.　　Therefore, to stop the presence of sales will impact the growth of bank insurance and the development of bank insurance payment business, greatly affecting the current life insurance industry scale growth. Affected by the news, November 8, Chinese Longevity (601628.SH), China Ping ' an (601318.SH) and China's Tai Bao (601601.SH) Three listed insurance companies share prices fell; the 9th morning trading period was also poor performance, of which, Chinese longevity jump low open,　　As of press time, the decline of more than 2%.　　CITIC Securities analysis, the short-term impact is greater than the new single accounted for a relatively high (70%) of the Chinese longevity and the Tai, to ping An (39%) less impact on the company's new business value impact far less than the impact on the size of the premium. However, the Citic Securities report also pointed out that the "notice" does not affect the long-term relationship between banks and insurance business cooperation, but to facilitate the promotion of bank-insurance cooperation in customer segmentation and product opening and other aspects of deep cooperation.　　The Division of labor between bank salesmen and insurance professionals will be clearer: The Bank account manager has the very skilled insurance knowledge and the sales skill, can target the different level bank customer, the bank account manager has the choice to provide the Silver guarantee service, the Silver Security specialized officer will undertake the Customer Manager training, the product development and the policy management and so on. In June this year, the CBRC jointly conducted a survey on the cooperation between the Bank and the Insurance Regulatory Commission research found that some commercial banks in the consignment of insurance products, the insurance products introduced into savings products, or exaggerated insurance product proceeds, or to win, draw, rebate or send in kind, insurance and other ways to mislead sales, damage the interests of customers,　　The number of complaint cases, such as misleading sales, has increased with the increase in the size of the banking and insurance cooperation business. In this respect, the CBRC has taken a series of new measures. "Notice" a clear request of commercial banks must not mislead sales, before the sale of insurance, must first to the customer to express the sale of the insurance products, and truthfully prompts the characteristics of insurance products and risks, should not be actively marketed.　　The telemarketing process should be recorded and kept properly. On the other hand, the requirements of commercial banks in principle only with no more than 3 insurance companies to cooperate, and require banks to sell insurance products to customers, should be holders of Insurance Agents Qualification Certificate of the bank sales staff, commercial banks shall not allow insurance personnel to be stationed in bank outlets.