The chaos of online sales of small and medium-sized insurance companies is frequent: only talk about benefits, not risks

　　The rapidly developing Internet is no longer just a position for information propaganda, but has gradually become a platform for doing business and making money. In the context of the downturn in individual insurance channels and the rising threshold for bancassurance, many insurance companies have begun to switch to online sales, and the products sold have also shifted from accident insurance and auto insurance with simple responsibilities to wealth management insurance. Small and medium-sized insurance companies lacking effective channels It also regards online sales as a shortcut to gold nuggets. Low threshold, high income and short period have become the three magic weapons for attracting customers.


　　Competing for high-yield, ultra-short-term


　　When the asset scale of the insurance industry is overtaken by the trust industry, the industry's urge to give up the return to protection and expand its scale has once again become prominent. Especially with the current increase in maturity benefits and surrenders, insurance companies have begun to try to reduce costs. Low online sales platforms collect premiums through wealth management insurance.


　　Following the cooperation between Guohua Life Insurance and Taobao.com last year, it set a record of collecting 100 million yuan in premiums in three days for “Golden Key No. 1” and “Golden Key No. 2” for online wealth management insurance products. More wealth management insurance products have flocked to the market. . At present, there are 11 wealth management insurance products from many insurance companies such as Guohua Life Insurance, Hongkang Life Insurance, Everbright Sun Life Life, Taikang Life Insurance, and United Life Insurance, which have entered Taobao and NetEase.


　　On the web page, the income is placed in an unusually eye-catching position. The guaranteed minimum income is 2.5%, and the continuous increase of the predetermined annualized rate of return has become the selling point of various customers. The expected annualized rate of return issued by Hongkang Lingdong No. The lowest, at 3.01%, but marked with low threshold and ultra-short-term wealth management; Guohua Wealth Management Bao launched by Guohua Life Insurance is set at 3.88%-5.2%, while Taikang Life Insurance and Hongkang Life Insurance’s wealth management products respectively launch scheduled returns of 5.15% And 5.25%, significantly higher than the bank's wealth management products. However, this kind of income is only the actuarial assumption of insurance companies, and the real income depends on the investment strength of insurance companies.


　　The higher the yield, the shorter the holding period, ranging from one year to one month or three months. The Good Wife Wealth Management launched by Union Life has been winning steadily, except for a 5% reservation. In addition to the income, the investment period is also very flexible, ranging from 1-3 months, and Hongkang Lingdong No. 2 even has a 15-day guise. Compared with the threshold of 50,000 yuan for general bank wealth management products, the threshold for such insurance products is more than 1,000 yuan, and the minimum is only 100 yuan. Such a high-yield, ultra-short-term selling point has attracted many consumers to buy.


　　According to statistics from the Beijing Business Daily, the number of websites preparing for online insurance business has increased rapidly, of which 38 websites have been approved since this year. It is conceivable that the competition for online sales of wealth management insurance will further intensify in the future.


　　The protection function is useless.


　　While winning premiums, the high-yield wealth management insurance has also attracted many doubts in the industry. A person from a life insurance company believes that it is possible to do financial management in moderation, but the main financial products, especially universal insurance and investment-linked insurance with almost no protection function, run counter to the transformation road of returning to protection.


　　A reporter from Beijing Business Daily found that most of the wealth management insurance listed on the Internet is almost no different from bank wealth management products except for the universal insurance, which can be seen from the name. In the event of death or total disability, "after the customer gets back his principal and income, he can also get 5% of the amount as customer compensation", etc. Once the customer is out of danger, this compensation is insignificant.


　　The above-mentioned people said that insurance companies have no advantage in making wealth management products compared with banks, funds and other institutions. The frequent surrender incidents due to low yields in the past two years are examples, and many misleading sales are also due to over-emphasis on yields. of. Even the relevant person in charge of Hongkang Life Insurance, which has recently focused on wealth management products, believes that surrender is the soft underbelly of the bright-looking, high-yield universal insurance.


　　"For customers, there is currently a lack of guarantee in the diversified financial management needs of customers. For future development, insurance companies should cultivate the insurance awareness of the market, rather than simply catering to the market and passively waiting for the market to decide on its own. Awaken." A manager of the strategic development department of a life insurance company said that in recent years, although the China Insurance Regulatory Commission has vigorously advocated the return of insurance to the essence of protection, and various insurance companies have also emphasized the protection function in the marketing of insurance products, it seems that form is greater than substance.


　　There are also many different voices from the industry. The above-mentioned Hongkang Life Insurance person believes that compared with bank wealth management products, insurance wealth management has its own advantages and highlights. The two are different forms of asset packaging, but universal insurance itself has 2.5%. Revenue, which can meet the real revenue problem that the customer needs.


　　Propaganda suspected of hitting the edge


　　11 wealth management tools are selling well on Taobao and NetEase. For example, Everbright Yongming Zenglibao sold more than 15 million yuan on the day it was launched on the NetEase insurance platform. However, some people also questioned the gimmicks like Everbright Yongming selling universal insurance on the Internet with "low threshold, high income, can be withdrawn at any time, and gifts can be given".


　　In order to promote insurance products, insurance companies have teamed up with third-party platforms to launch prize-giving activities, such as "getting a 60-yuan red envelope for every 10,000 yuan, without capping, and giving Apple gifts like iPad mini every day." Sometimes third-party platforms also Promote the point system, points can be used in online shopping malls, can withdraw cash, recharge phone bills, buy movie tickets, buy lottery tickets and other ways to stimulate insurance consumption, Taobao and Netease provide rebates for consumers who buy insurance, and even give gifts Activities, such as Taobao collection and distribution activities.


　　All of these are contrary to the provisions of Article 116, paragraph 4 of the "Insurance Law" that "an insurance company shall not give or promise to give insurance premium rebates or other benefits other than those stipulated in the insurance contract of the policyholder, the insured and the beneficiary". The original intention of the "Insurance Law" is to prevent insurance company marketers from using rebates as bait to urge insurance consumers to buy products, resulting in misleading sales of products and causing disputes. At present, the consumption behavior of online sales is no longer passive sales by insurance companies and third-party platforms. Consumers take the initiative to purchase, and it is inconclusive whether it can be misleading. However, the policy has not been clear about this.


　　In this regard, a person in charge of life insurance explained to a reporter from Beijing Business Daily that promotional activities such as rebates are a means for third-party platforms such as Taobao and Netease to expand their insurance popularity, and the design and interpretation rights of the activities belong to the third-party platforms.


　　Tuo Guozhu, director of the Insurance and Social Security Research Center of Capital University of Economics and Business, once told a reporter from Beijing Business Daily, "If you attract consumers with gifts or other additional benefits, it may lead to consumers' lack of understanding of insurance products and mislead them. This is also a group nature. Surrender incidents have buried hidden dangers and eroded the integrity of the insurance industry.”


　　New regulatory policy is expected to be introduced


　　Relevant data shows that the insurance industry’s premium income from new channels including online sales and telemarketing exceeded 70 billion yuan last year. Although online sales currently account for a small proportion, the speed is staggering. Many companies have expressed that online sales Business growth doubled. At the 2013 China Internet Insurance Seminar held recently, some industry insiders predicted that the development scale of Internet insurance is expected to reach 500 billion yuan in the next five years.


　　Despite this, there are many gaps in the supervision policies of the China Insurance Regulatory Commission on Internet insurance, such as whether cross-regional operations have been broken, whether insurance in different places should be served by the head office or branch, which region should customers across the country be regulated and protected, whether discounts and rebates and other activities Violations and low-threshold access methods will disrupt the market, etc.　　


　　In the face of the insurance online sales market with no supervision, the industry has a very high voice for the introduction of relevant policies. However, the "Internet Insurance Business Supervision Regulations (Draft for Comment)" issued by the China Insurance Regulatory Commission in early 2011 has not been officially announced. In the first half of the year, the China Insurance Regulatory Commission conducted research on online sales to understand the online sales planning, business development scale, and future construction of online sales platforms of various insurance companies. , the supervision policy of online sales is about to come out.


　　The above-mentioned person in charge of Hongkang Life Insurance, who participated in the formulation of new Internet regulations by the China Insurance Regulatory Commission, revealed that on the whole, the China Insurance Regulatory Commission is optimistic about Internet sales, and the issues such as off-site sales that small and medium-sized insurance companies are concerned about will be clarified, and the new policy will set entry and exit mechanisms.