The China Banking and Insurance Regulatory Commission issued the “Notice on Matters Concerning the Development of Independent Individual Insurance Agents”, which means that individual insurance agents can no longer enter the “pyramid” marketing organization level of insurance companies when they sell insurance products. Independent sales of insurance products.
There are about 9 million personal insurance agents in insurance companies nationwide. In the first three quarters, the national personal insurance agent channel achieved a premium income of 1.8 trillion yuan, accounting for 48.1% of the total premium income.
The person in charge of the relevant department of the China Banking and Insurance Regulatory Commission said that on the one hand, personal insurance agents have made great contributions to popularizing insurance knowledge, promoting the rapid growth of the insurance industry, and promoting social employment; on the other hand, the team of personal insurance agents has made great progress for a long time. Problems such as large outflows, uneven quality, insufficient insurance professional service capabilities, and poor social image.
To solve the above problems, the China Banking and Insurance Regulatory Commission has decided to gradually dilute the problem stock through healthy increments, eliminate the organization level of insurance marketing, change the development model of insurance marketing, reform the profit distribution and assessment mechanism, guide insurance companies to develop independent individual insurance agents in a standardized and orderly manner, and promote the development of independent insurance agents. The insurance market has grown and formed a more professional, professional, and stable sales force.
What is an independent personal insurance agent?
An independent individual insurance agent refers to an insurance sales practitioner who directly signs an agency contract with an insurance company and conducts insurance sales independently.
Independent individual insurance agents shall accrue commissions directly based on the insurance premiums sold by them, and shall not develop an insurance marketing team. However, auxiliary personnel may be hired to assist in auxiliary work such as issuing orders and after-sales services, and may not be allowed or required to engage in insurance promotion and sales activities, and may not set premium income assessment indicators for them. In principle, the number of auxiliary personnel shall not exceed 3.
What businesses can an independent personal insurance agent do?
One is the insurance business. With the authorization of an insurance company, an independent individual insurance agent may engage in activities such as selling insurance products, assisting in insurance surveys, and settlement of claims; if an insurance company also engages in the insurance agency business, an independent individual insurance agent may, according to its authorization, handle insurance for other insurance companies on its behalf business.
The second is non-insurance financial products. Where an insurance company has the qualification to sell non-insurance financial products, an independent individual insurance agent may, upon its authorization, sell non-insurance financial products approved by the financial regulatory authority, but must meet the qualifications required for the sale of such non-insurance financial products in advance.
Where do independent personal insurance agents sell?
The person in charge of the relevant department of the China Banking and Insurance Regulatory Commission said that independent individual insurance agents are encouraged to develop their business in various forms, which can be in the form of traditional “trading business”, or they can use the logo and name of the insurance company as required to open stores in communities, business districts, towns and other places (studio).
How to become an independent personal insurance agent?
From its perspective, it needs to meet the following conditions:
1. Possess a college degree or above, and have passed special training and testing on basic insurance theory and insurance product knowledge. Those who have been engaged in insurance work for more than 5 years can be related to high school education.
2. Honest and trustworthy, of good character, never convicted of corruption, bribery, misappropriation of property, misappropriation of property, or disrupting the socialist market order, never identified as the object of joint disciplinary action for dishonesty by relevant state units for serious dishonesty behavior, and never been punished in the last three years. Administrative penalties imposed by financial regulators.
3. Have the awareness of taking business risks, have strong business development ability, and entrepreneurial willingness.
According to the relevant person in charge of the China Banking and Insurance Regulatory Commission, the above conditions are higher than those of traditional personal insurance agents.
On this basis, insurance companies should also strictly select independent individual insurance agents:
1. Ensure that independent individual insurance agents meet the regulatory requirements, establish strict selection standards and a clear and orderly selection process, and form an insurance policy covering many aspects such as moral character, social credit, educational level, professional knowledge, work experience, and business ability. The comprehensive evaluation system sets up a multi-link workflow including basic information review, employment experience, integrity survey, professional personality test, interview, pre-job professional knowledge training, compliance education, and comprehensive entry evaluation.
2. Establish a screening mechanism of linkage between the upper and lower levels, and adopt various effective methods such as multi-level interviews, multiple rounds of interviews, and pre-selection of lower-level and higher-level decisions, which not only gives full play to the advantages of grass-roots institutions being close to the familiar market but also reflects the unified standards and strictness of higher-level companies. gatekeeping requirements.
3. Build a comprehensive interview team composed of personnel from human, business, legal and other departments, and select personnel with both professional knowledge and experience to serve as interview examiners.
4. Strictly manage contract signing, and those who sign an agency agreement with an independent individual insurance agent should be at the level of the city branch or above.
Who is responsible for the violation of laws and regulations by independent individual insurance agents?
In terms of legal liability, if an independent individual insurance agent conducts insurance agency activities in violation of laws and regulations, the insurance company to which it belongs shall bear legal responsibility according to law. However, insurance companies may pursue the liability of independent individual insurance agents who have exceeded their powers according to law.
In terms of management and control responsibilities, insurance companies should establish and improve a strict selection mechanism and strictly control personnel access; strengthen business authorization, business behavior, and practice registration management, and strictly control daily management; Those who violate the laws and regulations shall terminate the agency contract promptly, and strictly control the exit management.