The development trend of China s insurance industry, the current situation and development trend of

In recent years, the financial industry has gradually become the industry with the most consumer complaints, and the hot events of complaints have also frequently appeared on the hot search lists such as Weibo and Douyin, among which complaints against the insurance industry account for a large proportion. It is indispensable for insurance institutions to strengthen internal control and strengthen the claims supervision system.

In December 2020, the Consumer Rights Protection Bureau of the China Banking and Insurance Regulatory Commission (CBIRC) issued Circular No. 12 of 2020 "Notice on Insurance Consumer Complaints in the Third Quarter of 2020", informing the CBIRC and its dispatched agencies of the insurance consumer complaints received in the third quarter of 2020.

According to the Circular, in the third quarter of 2020, the China Banking and Insurance Regulatory Commission and its dispatched agencies received and forwarded a total of 36,754 insurance consumer complaints involving insurance companies, an increase from the previous quarter. Among them, 16,895 cases involved property insurance companies, an increase from the previous month, accounting for the total number of complaints; 19,859 cases were filed by life insurance companies, an increase from the previous month, accounting for the total number of complaints.

Car insurance and general life insurance have the most pitfalls

9,090 complaints from property insurance companies involving motor vehicle insurance disputes, accounting for the total number of complaints from property insurance companies; 3,289 complaints about guarantee insurance disputes, accounting for the proportion; 7,881 life insurance companies were involved in ordinary life insurance disputes, accounting for the total number of life insurance company complaints; There were 4,163 complaints about illness insurance disputes, accounting for the total.

Property insurance claims disputes are obvious, and life insurance sales disputes are prominent3,052 complaints involving claims disputes from life insurance companies, accounting for the total number of complaints from life insurance companies; There were 8,166 sales dispute complaints, accounting for the total. The number of claims disputes and complaints of People's Health, Chinese Life and Pacific Life is the most prominent among life insurance companies. Ping An Life, Chinese Life and Pacific Life have the most prominent sales dispute complaints among life insurance companies.

The store is a big bully, and the insurance leader has serious complaints

PICC Property Insurance, Ping An Property Insurance, and Pacific Property Insurance ranked among the top three property insurance companies in terms of the number of complaints. Ping An Life, Pacific Life and Chinese Life are among the top three life insurance companies in terms of the number of complaints. The most complained about are almost all insurance leaders.

The insurance contract is "greasy".

On the whole, complaints about insurance products are concentrated in critical illness insurance, medical insurance, general life insurance and motor insurance. The main causes are concentrated in claims disputes, sales disputes, and insurance contract modification (preservation) disputes, and claims disputes are relatively more prominent. Judging from the insurance contracts selected from the survey, there are four main types of outstanding problems.

It is indispensable for insurance institutions to strengthen internal control and strengthen the claims supervision system.

It can be seen that the difficulty of claims settlement makes it difficult for ordinary people to reverse their prejudice against the insurance industry, and they always have a "sense of distrust" in insurance. Zhou Yanli, former vice chairman of the China Insurance Regulatory Commission, recently pointed out in an interactive exchange with netizens that on the one hand, insurance institutions should strengthen internal control, establish and improve the claims management system, conscientiously improve and improve the claims procedures, and improve the claims service system; On the other hand, it is necessary to strengthen the construction of the claims supervision system, improve the insurance products and management mechanism, and increase the investigation and disclosure of violations of laws and regulations in the settlement of claims.

I often see people on the Internet say how bad insurance is, but in fact, the Internet has a distribution role, and the distribution effect of negative information is even greater. A single claim dispute can make countless people feel that insurance is so tricky. However, in fact, the development of China's insurance industry has been very high-speed and steady, and the average growth rate of the industry in recent years has been greater than the GDP of the same period.

Extended reading: [Insurance] How to buy, which one is better, teach you to avoid these insurance"pits"

Extended reading: [Insurance] How to buy, which one is better, teach you to avoid these insurance"pits"