China News Service, Beijing, September 28 (Reporter Wang Enbo) China Banking and Insurance Regulatory Commission on the 28th publicly solicited opinions on the "Internet Insurance Business Regulations (Draft for Comment)."
In response to the fact that non-insurance institutions are playing side-by-side and suspected of illegally operating Internet insurance business, the government has drawn many red lines.
As a new form of insurance sales and services, the Internet insurance business has profoundly affected the insurance industry and insurance supervision.
However, its rapid development also exposed some problems and hidden risks, which brought challenges to the industry and supervision.
It is understood that the "Measures" clarified the definition of "Internet insurance business" based on the nature and development rules of Internet insurance business, that is, "insurance business activities in which insurance institutions rely on the Internet to conclude insurance contracts and provide insurance services."
The insurance business that meets the following three conditions at the same time is an Internet insurance business: one is that insurance institutions sell insurance products or provide insurance brokerage services through the Internet and self-service terminal equipment; the other is that consumers can use the sales pages of insurance institutions' self-operated online platforms Independently understand product information; third, consumers can independently complete insurance purchases.
The Internet insurance business has a wide range of stakeholders, numerous models and complex issues.
This time, the government puts the prevention and resolution of risks in the first place, requiring adherence to the principle of “institution licenses and personnel licenses”, and a negative list clarifies the prohibited behaviors of non-insurance organizations.
The "Measures" stipulate that Internet insurance business should be carried out by insurance institutions established in accordance with the law, and other institutions and individuals are not allowed to carry out Internet insurance business.
The “Measures” clearly stipulated the behavior boundaries of non-insurance institutions and delineated the red line: one is not to provide insurance product consulting services; the other is not to compare insurance products, premium trial calculations, and quotation comparisons; third, not to design for insurance applicants Insurance plan; four is not allowed to handle insurance procedures; fifth is not allowed to collect insurance premiums and other acts.
It is worth noting that there are currently some practitioners of traditional insurance institutions participating in Internet insurance marketing and promotion through WeChat Moments, Official Accounts, WeChat groups, Weibo, short videos, and live broadcasts.
The person in charge of the relevant department of the China Banking and Insurance Regulatory Commission emphasized that according to the "Measures", the above-mentioned marketing and publicity activities can only be carried out by licensed institutions.
The marketing and publicity content released by the practitioners should be approved and authorized by the licensed organization and produced by the organization to ensure the integrity and professionalism of the practitioners to the greatest extent.
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