89% of policy signing premiums dropped
Beijing, April 3 (Reporter Zhao Zhanhui) The reporter learned from the China Banking and Insurance Regulatory Commission that the comprehensive reform of auto insurance has continued to deepen, with effective implementation, and the auto insurance market has remained generally stable in the past six months. The phased goal of "cutting prices, increasing insurance, and improving quality" Initial results have been achieved, which is basically in line with reform expectations.
Through this reform, consumers’ sense of gain has been significantly enhanced, with 89% of the insurance policies signing premiums falling, of which 64% of the policies with premiums falling by more than 30%.
At the same time, in the half year since the reform was launched, auto insurance has returned to the original source of insurance, and the degree of risk protection has been significantly improved. The average insured amount of three liability insurance has increased from 890,000 yuan before the reform to 1.33 million yuan; prevent and resolve risks, and the chaos in the auto insurance market has been significantly curbed. At the end of the month, the national auto insurance comprehensive expense ratio decreased by 9.39 percentage points year-on-year, and the auto insurance fee rate decreased by 6.75 percentage points year-on-year; focusing on improving quality and efficiency, the company's operating capabilities have been significantly improved, the transformation and upgrading have been accelerated, and the industry development structure has been significantly improved.
Recently, the China Banking and Insurance Regulatory Commission held a half-year meeting (telephone) on the comprehensive reform of auto insurance, demanding that it continue to deepen the reform unswervingly and accelerate the high-quality development of auto insurance.
At the same time, a special inspection of auto insurance in 2021 was deployed. It is planned to organize 10 banking and insurance regulatory bureaus to carry out targeted inspections on 12 provincial branches of 5 major property insurance legal entities.