Internet Insurance new rules multi-round solicit opinion part can cross district management

Article | Yang Rui

[The regulatory authorities did not make a "one-size-fits-all" decision on whether to open up the zone of operation, but opted for a modest liberalisation of the operating area of the simple Internet insurance products]

The regulation of the Internet insurance business "boots" during the year or will be landed.

After public consultation with the CIRC on the relevant issues concerning the regulation of Internet insurance for life insurance companies (draft for soliciting opinions), the interim measures for the regulation of Internet insurance Business (hereinafter referred to as "interim measures") are being levied in small areas within the industry, The new regulation of Internet insurance business, which has been the subject of much attention since the beginning of the year, or landed in the year.

There are no rules on the regulation of Internet insurance. In April this year, the CIRC issued a circular on regulating the operation of Internet insurance for personal insurance companies (draft for soliciting opinions), which clearly stated that life insurance companies with a solvency adequacy ratio of more than 150% can carry out Internet insurance business. However, according to a number of reporters from the first financial daily, the opinion has not been settled after several rounds of discussion.

For the Internet insurance business supervision, in the industry has been a number of rounds of consultation, the scope of the request is also changing. At the beginning of September, the financial insurance products in the Cat flagship store encountered a full line of the "down the Tide" incident is the Internet insurance supervision pushed on the cusp.

The contents of the interim measures, whether in recent days by the regulatory authorities or in this round of soliciting opinions, point to the true nature of Internet insurance products. For the future of Internet insurance products, "interim measures" in the clear, insurance companies should choose suitable for internet characteristics of insurance products to carry out business, and the use of Internet technology, data analysis technology, and other development to adapt to the Internet economic needs of new products, must not violate social ethics, insurance fundamentals and related regulations.

In September this year, vice chairman of the CIRC, Chen, said in a public forum that "to create a relaxed environment for the Internet, we must also adhere to the bottom line of thinking, a high degree of concern about risk." Internet insurance is the deep integration of insurance and Internet, the risk of traditional insurance still exists, these risks may because the spread of the internet has been magnified and accelerated, affecting the stability of the insurance market. ”

In addition to product guidance, the "interim measures" of the most industry concern is the trans-regional sales problem. A person in charge of the electric Business Department of the insurance company disclosed to our correspondent at the beginning of this year that the regulatory layer's attitude towards Internet insurance is more and more open, and the regulation of Internet insurance business will also break through the problem of trans-regional operation of insurance companies.

In recent days, the head of the above-mentioned insurance companies said: "Cross-regional sales breakthroughs may be difficult to achieve, especially for small and medium-sized insurance companies." "There are many" vacuum zones "on the regulation policy of Internet insurance, such as whether trans-regional operation is broken, where insurance should be done by the head office or branch office, and the country's customers should be subject to the supervision and protection of the area, discount rebate and other activities whether it is illegal, Whether the entry mode of low threshold will disturb the market and so on, among them, trans-regional operation becomes one of the core problems that restricts the development of insurance net sales.

From the "interim measures", the regulatory authorities did not open up the operation of the regional restrictions on "a one-size-Fits-all", but chose to moderately liberalize the simple Internet insurance products operating area restrictions. The interim measures stipulates that in the case of an insurance company that has the corresponding internal control management ability and satisfies the customer service demand, the Internet insurance business involving the following kinds of risks may be extended to the provinces and cities where the branches are not established. Including personal accident insurance, Periodic life insurance and ordinary life insurance, the insured or insured person's family property insurance, liability insurance, credit insurance and guarantee insurance, can independently and completely through the Internet to achieve the sales, underwriting and claims processing services of the insurance business.

In addition, the interim measures also made clear the Internet Insurance Product Information Disclosure system, and information disclosure is the "off the Tide" in the regulatory layer clear problem.