Public safety Insurance "Lebao-margin Plan" launched

"Three Horses" launched by the Internet insurance Company Public Security Insurance of the first product today officially online. The product is for Taobao sellers performance guarantee insurance, called "Public Lebao-margin Plan" (hereinafter referred to as: Lebao). Public Lebao November 25, December 5 officially on sale.



Public Lebao is intended to use a certain amount of premium to release Taobao sellers to pay the consumer bond. Rates are charged in accordance with the period, with a semi-annual rate of 1.8% and one-year rates of 3%. For example, a shop originally paid 1000 yuan consumer security deposit, according to one-year calculation, pay 30 yuan premium can be achieved, the remaining 970 yuan can be retrieved for personal use. If there is a dispute, the public security insurance will advance the claim, and then to the seller recourse.

Prior to this, Taobao for sellers of the type of products, require a part of the category of sellers to advance the 1000 yuan to 10,000 yuan consumer security, as consumers of shopping security and compensation for the risk of adjustment tools.

Public Security Insurance CEO Yin Hai said, the main risk from the price of the products, if the seller appeared credit or other risks, public security insurance will be fallback compensation. In the future, the pricing of products will be based on the difference of the seller's credit accumulation, design different rates, explore the pricing innovation, and improve the construction of the credit system.