Bancassurance products for the fees cut-throat competition to say %26quot;no%26quot; high-risk Baotuan Bank will be seeking the maximum security fee
Security Bank fee in order to control the cut-throat competition brought about by the new fee differential risk of loss, some insurance companies are planning to set up Baotuan Bank security fee cap in order to enhance the Bank's insurance business profit levels.
The source told reporters that in some areas, insurance companies are planning to Baotuan through various parts of the Insurance Association of approval to the local Baojian Ju, %26quot;Deputy Postmaster General insurance business banking self-discipline%26quot; in the hope through self-discipline in the form of bank insurance fees Set limits for reunification.
According to the preliminary preparation of the Convention, Jiangsu, Zhejiang and Shanghai and other places of various insurance companies most of the agreement, general insurance, risk sharing and co-existence of life insurance products in the wholesale pay 5-year period following the Bank of security fees as the upper limit of 2.5% For 5-10 year insurance fee cap of silver as 2.75 percent, 10-year limit set fees for more than 3%; period of payment products in the period of 3-5 years of single-phase fee rate ceiling of 3% To 5%, 6-10 single-limit fees for the period of 5-8 percent for the 10-year period more than a single fee for the maximum rate of 10%.
In practice, however, various insurance companies at present the Bank of security fees generally higher than the average level of the cap, including Taikang, Xinhua, the number of Chinese-funded insurance companies, but also broke the Bank insurance fees were far beyond the rate of industry The average level. %26quot;As the Bank of security fees of cut-throat competition, the level of rates than the general range of affordable insurance, insurance companies, insurance agents from the silver channel profits are poorly paid. Bancassurance fees and the continuing high cost expenditures, increased Banks and Insurance agency business risks and costs of the new poor risk of loss. %26quot;Silver by the insurance company security official pointed out that, in addition to Bank of security fees, insurance companies also need to bear the human, publicity, the cost of hardware inputs, and other expenditures, has led to insurance companies Bancassurance business growth, profit growth has not occurred. The source said that the %26quot;silver insurance business in the basic state.%26quot;
For insurance companies Baotuan Bank signed the Convention on self-insurance fees, almost all the insurance companies have shown a clear positive attitude, but there are concerns from the industry, %26quot;after the signing of the Convention on the self-discipline, even if insurance companies will be able to hold the upper limit, but Restrictions on fees directly related to the interests of the bank, the bank will be able to accept the maximum fee agreement or a problem. %26quot;
In the industry have pointed out that insurance companies pay for the silver, including the security fee paid to the sales counter sales incentives, but because of the bank agent network of more than insurance companies are generally required to sell products, sales counter on the recommendation of the customer to buy A greater impact, so insurance companies tend to eat dinner, foreign travel, gift cards and other consumer Zhangwai to pay the way for the Bank of agencies, networks and sales personnel incentives. Fees compared to expenditure, this part of the invisible costs are not statistics, to address the fundamental silver guaranteed cost is too high, to reduce costs hurt poor, will need around the insurance and banking supervision departments to strengthen supervision of the joint.
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