China insurance regulatory Co47i27ion to fried stop marketing axe finds challenges

In mid-May, the reporter received a call from an insurance company sales, the sales staff due to various reasons, universal life insurance May 31 full suspension, "the insurance price is very high, so from your point of view I hope you can before the sale to buy such insurance, give you more benefits. "Recently, the China insurance regulatory Commission published the personal insurance company rules on administration of insurance clauses and insurance rates (exposure draft) (hereinafter referred to as the draft) on this" fried stopped "in the constraint, prohibited" to stop using the insurance clauses and premium rates for sales misleading ". Recommended reading insurance weekly: protection listed 3.8 billion sold "China smell Department" assets town residents endowment insurance pilot a quarter Bank agent premium income decline 15% cast even insurance fell out of May average income-2.67% insurance professional intermediary high growth gradually into main channel Qian April foreign insurance enterprises share fell below 3% deciphered fuck disk password master main trends "fried stopped" not secret for sought views draft under species by mentioned of "fried stopped" behavior, reporter specifically interview has insurance industry of industry persons, "" sale " concept in insurance industry early was widely application, main is to elevating performance. "The persons said," fried stopped type marketing "usually is insurance company in sale products Qian, to" this insurance no longer sale ", and" new of insurance species price more high ", concept to customer publicity, attract customer in short-term within purchase the products," this behavior using has customer in products information does not transparent situation Xia of blind obedience psychological, usually for insurance company short-term performance of assault ". According to the insurance in China revealed that because finding a customer of "conformity" and "follow", and each insurance company to "suspension" after product marketing concepts and related products are far beyond normal levels of insurance the amount of insurance. Have sales staff admits, "old performance of the product sale is a time of year, the company will also make relevant training, and announced new products in advance of the price rise." This "fried stop mode" success was widely used by insurance companies started this marketing tool. It is understood that some companies will have a plan to specify a year as a "sale of year", has plans to launch one or two per quarter sale of products. Part of the insurance company that a product in multiple areas within the "fried stopped" several times, "this form of marketing for insurance company Sprint performance in the short term effects are quite obvious." Prohibit "fried stop" recently, the China insurance regulatory Commission published the personal insurance company insurance clauses and insurance rates of management procedures (draft for soliciting opinions) prohibited insurance companies and their staff to promote insurance products using the "sale" concept. The draft points out that: "insurance company branches and the following branches at the provincial level, shall not decide to stop using the insurance clauses and insurance rates. "Meanwhile," insurance companies should strengthen the management of the insurance clauses and insurance rates of usage, not to stop using the insurance clauses and insurance rates advertising hype and sales on behalf of misleading ". Under sought views draft under provisions, except requirements insurance company shall not "to stop using insurance terms and premium rate for sales misleading" outside, also provisions sale products required reported preparation: "insurance company decided in national range within stop using insurance terms and insurance rates of, should in stop using Hou 10th within to China insurance regulatory Commission submitted report, description stop using of causes, and follow-up service of related measures, situation, and will report CC original using regional of China insurance regulatory Commission sent institutions. "Because of" fried-stop marketing "could lead to a sale of misleading, in the China insurance regulatory Commission in the draft also defines penalties. According to the contents of the file, once a insurance company "to stop using the insurance clauses and premium rates for the sale of misleading", China insurance regulatory Commission will be ordered to correct, $ 500,000 the fine of at least $ 100,000 is serious, you can limit the scope of its business, ordered to stop accepting new business or revoked the business licenses. "Fried stop" identified challenges while "fried stopped" in the constraint, but industry effectiveness on the implementation of the draft is still wait-and-see attitude. Marketers of some insurance companies, which have indicated that they have not yet received a notice from company. Marketers admits, "old performance of the product sale is a time of year, the company will also make relevant training, and announced new products in advance of price increases, I think the full stop is unlikely". Industry sources, from insurance company of the practical implementation of the current situation, "fried stopped" is usually carried out by the branch of spontaneous, few standardized advertising copy, promotional material, oral advocacy is normally provided by sales personnel, or by spontaneous informal documents, produced sales of publicity. "Forensics has become the primary regulatory challenges", the industry said, unless regulators conduct on-site inspection or the China insurance regulatory Commission on "fried stop" behavior is difficult to identify. In addition, "truthfully informed" and "scrambled to stop" the line between is not very clear. Industry insiders said, if a product does is about to stop the sale of the insurance companies, insurance agents when the customer for product promotion, is the obligation to truthfully inform customers of product information. "In the draft is contained in " sold to stop using the insurance clauses and insurance rates of misleading ", is not allowed to be sold to mislead, rather than is not returned to promotion". Marketing channel of an insurance company official said, "how to define sales misleading is a key, is referred to as long as the product sale and even misleading? If our products will be returned next month, the marketers tell customers is also very normal. " Therefore the industry said, formally opened the halt "fried stopped" before marketing, competent authorities should "stop fried" for a clear definition is case sensitive.