Premium increases slow life insurance faces transition pains

In the domestic life insurance, the insurance company "good start" has always been regarded as a year of development the general tone, also lay the Foundation for the full year premium growth. However from the perspective of published data, the domestic liurance company is going through a period of weak business growth. Experts believe that the current slowing premium growth, the surface is affected by macroeconomic environment and the impact of regulatory policies, but fundamentally shows that China's growth pattern has reached the inflection point of the life insurance industry in the past only through the adjustment of product structure, philosophy, and so to seek out new sources of growth, to usher in the next period of rapid growth of the insurance industry. 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In fact, this year China life one-month premiums have been a downward trend, premium income for January-May months respectively to $ 43.9 billion, $ 40.7 billion, $ 38.4 billion and $ 22.4 billion and $ 21.1 billion. Ping an life insurance first 5 months of accumulated premiums 64.12 billion yuan, implementation May one-month 8.37 billion yuan in premium, increment per cent 3.02%. Turbo in China (601,601, unit) business income $ 46.4 billion cumulative life insurance life insurance May, an increase of 11.5%. Three giants of life insurance premiums are far below the growth rate over the same period last year. Analysts pointed out that the slower growth in life insurance premiums this year, in addition to high Cardinal factors with the same period last year, implementation of new banking and insurance policy is a big reason. CBRC issued a circular requesting insurance shall not at the end of last year in the Bank outlets stationary points of sales, banking and insurance business of the insurance company suffer a slam, and life insurance premiums have nearly four or five from the bank-insurance cooperation. The insurance agency market reports show, Bank premium income of 126.973 billion yuan in the first quarter of this year, down 15.33% to achieve Commission income 5.149 billion yuan, down 3.2%. Beijing technology and business University, Department of insurance director Wang Xujin believes that, in addition to the impact of new policy banks and insurance companies, the premium income growth slows, the macroeconomic environment is also subject to the entire country. "In the context of the continuous rise of the Bank on the one hand, the life insurance industry scheduled interest rate does not open, attractive natural enough insurance products on the other, has this year been shock decline in capital markets, insurance investment of funds is not optimistic, cannot provide ideal income to the policyholder. "Break through the life insurance industry ask channel change in channel suffer a restriction under the background of banks and insurance companies, insurance regulators and insurance companies began to explore insurance distribution channel changes road. Channel banks and insurance companies is expected in the near term could not be changed under the premise of, many insurance companies more importance to individual distribution. According to the first quarter of this year, insurance marketers achieve premium revenue of 177.871 billion yuan, an increase of 20.84%, 38.52% per cent of total premium income of the country during the same period. But because of the extensive, go and other reasons, greater liquidity, growth constraints facing difficulty has always been a dangerous business. To this end, China insurance regulatory Commission issued last year that the views on the reform and consummation of administrative system of insurance marketers, clearly required insurance companies to gradually rationalize legal relationships with marketers, encouraged the establishment of exclusive insurance sales agent or insurance company. It is understood that this year China insurance regulatory Commission has approved the establishment of seven more than sales of insurance companies and insurance brokerage company. "Insurance sales company business source that brought relative stability to the insurance companies on the one hand; on the other hand also included employees of industry marketers and changed the original agent is unclear, ambiguous situation of labor relations. "Risk management and insurance, Department of Ju Ming of Nankai University. Zhao Bo Bo into China insurance brokers limited Chairman believes that sales of insurance companies and insurance brokers are professional insurance intermediaries, are "professional people to do specialized things" is actually "separation of production and marketing" of roads, this will be the future trend of insurance sales. According to the first quarter of this year, company 1846 nationwide insurance agent, insurance broker, 396, insurance appraisal company 305, but insurance companies and insurance brokerage company with premium income accounts for only 4.78% of the country's total premium income over the same period. Experts believe that the channels of banking and insurance in the context of implementation of new policies of change is to the good development of the insurance industry must go through "labor pains", the introduction of high-quality insurance sales, new sales model continues the existing model, enhances the image of the insurance industry as a whole. "Return to safeguard" marketing channels is the development of this industry change, said Zhu Minglai, strengthening professional insurance intermediaries are in a good direction, conducive to the normalization of insurance marketing, but just how big the effect also depends on the orientation of insurance products. "If stressed fiscal prudence, even professional intermediaries to grow, the effect is not ideal, fundamental way out of the insurance industry is that " return guarantee "". Life insurance premium growth in the past to a large extent, depend on banking and insurance, and banking and insurance products is more savings-investment financing tool, ignoring insurance protection function. "Chinese people now lack the appropriate investment channel, launched investment type insurance products for criticism, but the insurance product is should first be stressed that the protection function, as long as the full understanding and exploiting the consumer demand of insurance companies, market space is very large. "Wang Xujin said. Zhu Minglai also believe that consumer demand for the protection space is large, and now risks of insurance products to provide inadequate protection. "So, premium growth momentum now appears, is that pattern of growth reached a turning point in the past, from product design to marketing and indeed the whole concept of insurance, you will need to change. Wait until after the industry to seek out new sources of growth through structural adjustment, the premium will also usher in a period of rapid growth. ”(function(){varobj=null;if(document.getElementById('page2011nav')){obj=document.getElementById('page2011nav');} elseif(document.getElementById('arctTailMark')){obj=document.getElementById('arctTailMark');} if(obj!=null){varstr='';try{varoo=obj.previousSibling;while(oo.nodeType!=1|| oo.innerHTML.replace(/\s|\u3000/g,'').length==0){oo=oo.previousSibling;} if(oo.nodeType==1&&oo.tagName.toLowerCase()=='p'){varspan=document.createElement('span');span.innerHTML=str;oo.appendChild(span);}} catch(e){}}})();