Climbing fees paid le49 quantity and quality of Shanghai Bank insurance double drop

Ji Yunfei was once dependent on channels of Shanghai life insurance on banks and insurance companies, lately somewhat reluctantly to taste "a loss for both sides" for the first time. First 5 months of this year, Shanghai channel of banking and insurance premium revenue of $ 14.13 billion, down 19.9%, total premium income in Shanghai life insurance 25.48 billion yuan, down 21.3%. Channel not to force banks and insurance companies, life insurance premiums in the first half growth seen as Shanghai. Taking into account the growth of the high base last year, Hu scale decline in banks and insurance companies on the market expected. However, banking and insurance business caused by the decline in the quality industry concerns about prospects for banks and insurance companies. Shanghai Insurance Association statistics show, first 5 months of the year, banks and insurance companies pay premium income of $ 1.38 billion, accounted for more than just 9.7%. According to informed sources, the stagnation point sales after the abolition of banks and insurance companies, life insurance companies in order to pull the banking and insurance sales achievement, secretly raising banks and insurance fees, banking and insurance fees and self-discipline of the Convention was to break through again. Recommended reading insurance weekly: Storm safe involvement haixin shares owned pipe investigation storm disaster danger-don't forget to vote Wade was the protection of health is expected within months of funds granted 1 billion insurance product specification for more selling short China insurance regulatory Commission to be more variable annuity insurance into a bear market life-saving straw tendencies on the other side of risk capital investment balance? Cracked the trader password appeared grasp the main trends of stagnation effects cancel according to the first 5 months of the year, life insurance companies in Shanghai only Kunihisa, Jinsheng, Tian, AC CMG silver 6 life insurance companies, such as banking and insurance businesses to achieve positive growth. Xinhua and Taikang these 2 large Bank and insurance company's performance fell and 27.9%. Resident banks and insurance companies after the effects on the performance of banks and insurance companies are emerging. In November last year, Banking Regulatory Commission on further strengthening the insurance agency business in commercial banks, issued notice of compliance risk management and sales halt to resident banks and insurance companies sell. This reporter learned from the various life insurance companies, although slightly different personnel in point of sale withdrawal points in time, but by the end of February this year, Shanghai resident banks and insurance companies on sale has completely ceased to exist. However, Shanghai banks to "cancel resident sales" there are still certain differences of understanding and implementation, some banks completely do not need life insurance company sales, some banks still need to do some life insurance sales associate sales and follow-up service. "In some comparative closer cooperation network, will send one or two resident companies still periodically sales service maintenance. The Pacific "(601,099, unit) banking and insurance, life insurance in Shanghai Branch Manager Zhu Jingwen admits, however, banks and insurance companies have in common the bottom line is" sales, not long-term squatted in Bank outlets, recommended to customer without sales ". Stagnation point sales after the cancellation, Bank high Cabinet and lower Cabinet and even the Hall agency insurance business managers need to have a certain degree of familiarity, especially now banks scooped up bonus requirements of professional risk insurance and universal life insurance is not low. Bank of communications (601,328, unit) Hongkou Branch Director Chen Leiying said since the beginning of this year, organized by life insurance companies for training support for cooperative banks increased sharply, as in a transition period, bank personnel insurance sales stagnation point of sales than in the past. Reporter was informed that the Banking Regulatory Commission and China insurance regulatory Commission also gather information from banks, insurance, such as the resident sales after the effect of the new deal, the ability of banks to independent agents selling life insurance company sales, is also required for the secondary. Competitiveness weakening caused by interest rate if the sales model adjustments are led to internal causes of the decline in performance of banks and insurance companies on Shanghai, the Central Bank to raise interest rates several times external competitiveness weakening further products benefit banks and insurance companies. Starting from the second half of last year, Central Bank interest rates several times, now 1-year time deposit interest rate up to 3.25%, up from traditional life insurance products scheduled interest rate 0.75%. Our consultants, shanghaicaijingdaxue Zhong Ming of the Department of insurance Director said interest rates will make the life insurance products attractive low interest rates reduce, savings-life insurance products sold on the market under impact larger consumer purchases will be reduced. If life insurance is not rapid product innovation, also could face premium growth or negative growth situation. Currently banks and insurance companies on the market in Shanghai and bonus danger and occupy the most exalted position, and mostly short-term danger-fans to pay dividends, this type of insurance premium close to the insured amount, is a savings alternative products. Chen Leiying said share insurance while focusing on different life insurance companies, but overall selling point is the same: quickly returned, accident protection, annual cash annuity or insurance dividends. In the context of higher interest rates, although the increase in fixed investment life insurance company receipts may lead to increased dividends, but such a good with a lag, often fails in the here and now reflect, and life insurance companies in the past the bonus level is not high, it is difficult to attract consumers. A Chinese-funded insurance Director of the Shanghai Branch Office admits, pressure on banks and insurance sales this year is that the competitiveness of products fall sharply due to the depressed capital market performance, the company is thinking about what products to "rescue". To this end, the variable annuity Shanghai pilot may become a new hope. A few days ago, Jinsheng life "under the" variable annuity insurance has taken the lead in the market. Business embedded value on the low scale of business growth in banks and insurance companies, but business acquisition life insurance company to pay costs have not dropped, but in the fierce competition increasing. According to informed sources, the resident banks and insurance companies cancel makes the bank counter sales must be devoted more manpower for sales agents, combined with many banks earlier this year to increase the assessment of intermediate business income, banking and insurance fees larger margins climbed in early 2011. "Under the life insurance company in Shanghai in 2009 signed to the banking and insurance fee standard of business self-regulation commitments, fans pay a bonus life insurance, health insurance, general insurance fees CAP in a 5-year, 5 year above and 3%, respectively, but now the wholesale banks and insurance companies to pay fees has risen to between 3.5% per cent. "" Recently, many banks and life insurance company total signed a banking and insurance fees to the general framework agreement, much scale than in previous years, this Convention on banking and insurance fees and self-discipline to the market challenges. "Zhong Ming said the fees regulation has always been a double-edged sword, after all, different companies on the scale of development is at the starting line of the same article, their demand for scale and profit is not the same. It is learnt that, in order to adapt to developments in banking and insurance markets change, had begun on the 2011 edition of the Shanghai Insurance Association BR self-discipline Convention fees scale adjusted accordingly from 3% up to 4% fans pay the 5-year period; barge to pay more than 5-year3.3% up to 4%. Shanghai Insurance Association said hope life insurance companies always keep a clear, accurate judgment in silver on the basis of market conditions to promote business growth in health. "Regulators do not want to see the most now is business fluctuations, for banking and insurance business explosive growth last year but this year has stalled life insurance company, insurance Council is called upon to advise on internal meetings. "People said. Unpleasant period paid business development is also in Shanghai and tangle of problems banks and insurance companies. First 5 months of the year, Xinhua life insurance 28.6% market share of the lead Shanghai banks and insurance companies to pay on the market, in addition to zhonghongrenshou no silver single premiums, payment business account for banks and insurance companies on the Shanghai de an Alliance in is lower than the maximum life, 52.4%. However, more banks and insurance companies still rely on barges to pay life insurance company business strike out, Shanghai life insurance company 23 single premiums than banks and insurance companies more than 90%. Among them, Tian an life, social life, all life, such as zhengderenshou, China life insurance 8 life insurance company's barge to pay up than than 99%. In the same period last year, Shanghai new single banks and insurance companies to pay than the lack of 1% of the internal company only 6. Zhong Ming pointed out that, although the negative growth seen as banks and insurance companies in the first half, but will still be run through banks and insurance companies the main battleground for the whole year. Prior to this, business volume growth of banks and insurance companies at the same time, its operational structure is reasonable, such as fans pay, pay scale, long term and short term insurance-insurance, renewal has accumulated ratio, are the focus of attention in the industry. But judging from the situation, banking and insurance issues remained to be resolved with low business embedded value.