Kim Hong, chairman of Pacific Life Insurance: Life Insurance Corporation premium size of the market share is not the most important, the main policy to continue to observe the rate of
"From the cross-product wholesale to the payment period is a product transition we are facing a very painful transition, and this will be the entire insurance industry consensus." China Life Insurance (601,628, it shares) Li, deputy general manager of Shanghai Branch, told reporters . He called the pain of the past six months from the insurance market's dramatic changes.
According to the China Insurance Regulatory Commission statistics, the January to June this year, the premium income of life insurance companies grew 64.4 percent, 153.8 percent increase in bank insurance; July's total life insurance premiums increased by 66.7 percent, the bank insurance premium income It is up to 244,370,000,000 yuan, up 159.6 percent.
Wholesale insurance to pay dividends surrender a greater impact
Beautiful ring hidden behind the risks. At the same time, a substantial increase in the premiums, surrender is also growing. When people have to look at the focus for even the risk, but he did not know the insurance companies so that more of a headache it is dangerous dividends.
Weekly financial reporter found that in the first half of Shanghai's life insurance market surrender expenditure, risk sharing proportion as high as 57%. Guangdong in the first half of the dividend amounted to surrender risk 2,216,000,000 yuan, accounting for 60 percent of the amount of surrender. From the surrender of insurance, in the first quarter, mainly China Life Insurance three years, five-year dividend of insurance products; in the second quarter, Ping An Life Insurance also surrender a large number of operations.
"Banks and Insurance Companies, as well as the rapid development of insurance dividend rate of surrender with a sudden increase in insurance sales in the aggressive do with." Li believes that the investment market so hot at that time, both the marketing staff or policy holders are very important insurance products, investment Earnings, Bank and Insurance sales channels for the dividend, even for products that take advantage of the development of universal products very quickly. On the other hand, some insurance companies are also members of the marketing rate of return, such as using misleading concept of the insured, and with the capital markets continue to take the bear, "Let's eyes taken," the policy holders have chosen to surrender.
The wholesale business to pay the dividend on the surrender risk, in particular the fight against big insurance companies. "Fortunately, the period of payment of the product continuity, even if the surrender is not particularly big impact, and to pay different wholesale customers surrender, insurance premium income to be greatly affected." Li said, "That is why now To the product transition period to pay the reasons. "
Dunjiaoxiangqi reflect on the stability of the transition to pay
In fact, the country life in the period to pay respect to the product is much harder.
"We wish to recruit a team of college all over the field took a special closed-end training for a month, the goal is to enable them to the bank manager and docking." State Bank of Shanghai life insurance, general manager Lu Beič¯´.
On the one hand, the team is the reform of the product changes are reflected in the different ideas.
State's new life-of dividends a silver security products, the country life to enjoy life insurance co-existence, this product is the industry's first catastrophe in order to protect the theme. "We believe that the insurance is to return to the safety of their own, can not always focus on vision in investment income and so on." Li said.
The cancellation of products between the ages of the insured rate of change, in addition to security dividends at the end of the interest rate used in the past, and other gimmicks, in addition to insurance for 10 years, capital preservation will return in two, according to the company only a year to determine the dividend program Dividends.
"All of the company's dividends have access to premium products to a pool of funds, according to the pool of funds for dividend earnings." According to the Lu Bei, "the pool of funds to purchase 80% of the deposit agreement, 15% invested in stocks Secondary market, 5% of the equity investment agreement to enter some of the projects to go. "
"It is prudent to do their own thing to do." Li said.
Similarly, to "do their own things to do" a lot of people. "A look at life insurance companies, I think the size of the premium market share is not the most important, I am going to continue to observe the policy rate." Kim Hong, chairman of Pacific Life Insurance told reporters that "Taibao rate will continue to have been part of an integrated Evaluation system, which is the branch of the availability of higher salaries an important measure. "
Kim referred to the continuation of the rate of the previous "pay period trend" happens to coincide.
In the face of changes in the insurance market, that Taibao, will be the next priority to the development of old-age insurance and re-disease risk, such as strong protection.
The new policy sales rebound
Even in the 2007 vote, a strong offensive universal insurance, the China Life insurance dividends for the firm, even in its premium high growth while losing nearly 12 points of market share. This year, cast out of favor even dangerous situation, many insurance companies from product sales strategy has been adjusted, the risk of the new dividend policy or to open up the insurance rate will be to seize market share in the important bargaining chip.
"We are currently studying the development of a more stable income dividend risk." A joint venture insurance company account manager told reporters that Jian Guanceng as a result of pre-pushing insurance companies have strong financial management features, security features of the vote even risk abated has been cautious Reservations, and a gradual tightening of policy, insurance companies are no longer marketing to encourage customers to the staff recommendation for even a risk.
The China Life, AIA, Pacific Life, Pacific Life, and so have successively launched a new insurance product Dividend, the main idea is to have more financial management functions in order to attract the attention of investors, the dividend was low-risk sales began to turn for the better.
Industry sources, shock the stock market down, and strengthen people's awareness of the risks, even to vote than risk the stability of the insurance investment more favored by investors. And the high dividend will increase the risk of the charm of dividends.
China Life Insurance in February to start the annual dividend distribution of work, Hong-tai, Hongfeng products such as the dividend rate of 5.9 percent, but at other times to stimulate the company's sales of such products rose. Standard Life Heng recently pushed a new capital preservation value-added bonus of insurance products; Ping An Life is starting in June this year for distribution to their customers annual insurance dividends and dividend special dividend in 2008. "In addition to the stock market's role, a number of insurance companies through the upgrade dividend policy, dividends and other measures, and the insured to share investment income and other measures have greatly increased the dividend risk insurance policy holders confidence." Market participants said that insurance companies , The dividend risk than the risk to insurance companies even for the relatively higher actual profits, in 2007, part of the push for even Zhuanzu risks of the insurance money, has begun to adjust the dividend risk and operational risk even vote in proportion.
China Life Insurance Beijing branch of a senior salesman told this reporter: some dividends, not only have to pay short-term, high return fast, to enjoy life-long dividends, capital preservation assets such as features, while the additional risk of major diseases, and general Re-disease risk, shortened the time to pay, as long as 3 years or 5 years time to pay.
The advantage of the dividend risk, Ping An Life Insurance, a financial expert said, "With China's rapid economic development, inflation is likely to have been a few years later, when insurance coverage has become less protection. When the sum insured in accordance with the annual Dividends in the form of compound interest to accumulate, the level of protection of customers as the market has improved, can effectively resist the impact of inflation. "But would like to remind consumers that as a life insurance, insurance of the safeguards of dividends is The first place.
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