According to the data disclosed by the regulatory authorities, after years of reform and development, Chinas automobile insurance has achieved positive results. In 2019, Chinas motor vehicle insurance coverage reached 260 million vehicles, with premium income of 818.9 billion yuan, accounting for 63% of the property insurance premium. However, some long-standing deep-seated contradictions and problems have not been fundamentally solved. High pricing, high handling charges, extensive operation, disordered competition, data distortion and other issues are relatively prominent, and there is a big gap between the requirements of high-quality development and the like.
In this context, the CIRC has put forward the above-mentioned guiding opinions on the implementation of comprehensive reform of vehicle insurance. From the core content of comprehensive reform of vehicle insurance, the liability limit of compulsory traffic insurance has been greatly increased after the comprehensive reform of vehicle insurance. For example, the limit of liability has been increased from 122000 yuan to 200000 yuan, including the compensation limit for death, injury and disability from 110000 yuan to 180000 yuan. In addition, the insurance liability of commercial vehicle insurance is more comprehensive. The main insurance liability of new motor vehicle demonstration products increases the insurance liability of vehicle theft and robbery, earthquake and its secondary disasters, glass breakage, spontaneous combustion, engine water involvement, etc., and the exemption agreements such as accident liability exemption rate and failure to find third-party deductible rate are deleted, which easily leads to claim disputes in practice To provide consumers with more comprehensive and perfect automobile insurance service.
What is particularly noteworthy is that after the implementation of the guidance, the price of commercial automobile insurance is more scientific and reasonable. The insurance industry recalculates the pure risk premium of the commercial automobile insurance industry according to the actual market risk situation. At the same time, the upper limit of the additional charge rate of commercial automobile insurance products is reduced from 35% to 25%, and the expected compensation ratio is increased from 65% to 75%. The rate of automobile insurance products is more consistent with the risk level. In the second step, the range of independent pricing will be gradually released from 35.0 to 65.1. After the implementation of the reform, the scope of compensation records will be expanded from the previous year to the first three years, and the rate increase range for accidental compensation consumers will be reduced.
After the introduction of comprehensive reform of vehicle insurance, do car owners feel this change? According to the information learned by the reporter of Securities Daily, after the comprehensive reform of vehicle insurance, the insurance premium of car owners has generally decreased, but some owners have increased instead of decreasing.
The reporter learned from China National Insurance Corporation that at 0:01 on September 19, the Shanghai headquarters of the property insurance company of China ushered in Mr. Jia, the first customer after the comprehensive reform. As a regular customer, Mr. Jia did not get out of danger for a year because of his good driving habits. The premium dropped from 4150 yuan last year to 3171 yuan this year, with a year-on-year decrease of about 24%. Among them, commercial insurance was 3380 yuan last year, and this year it was 1309 yuan. Because of the preferential premium, Mr. Jia also took the initiative to increase the limit of three liability insurance from 1 million yuan last year to 1.5 million yuan.
Similarly, the reporter learned from Ping An Property insurance that at 0:01 on September 19, Mr. Lu, the owner of Ping An from Shanghai, received a new insurance policy for his car, with a premium of 1944.25 yuan, while that of Mr. Lus car in 2019 was 2352.60 yuan. Last year, Mr. Lus Insurance types included motor vehicle loss insurance, third-party liability insurance, and no deductible insurance (motor vehicle loss insurance). This year, new insurance was added Additional special terms of value-added service for road rescue and inspection on behalf of motor vehicles are added.
In addition, taking the new auto insurance policy launched by Zhongan online on September 19 as an example, Ms. Chengs five seater sedan, the owner of Shanghai, had no claim settlement for three consecutive years, and there was no record of traffic violations in the previous year. Under the same insurance amount, the premium price of the new auto insurance policy will be more than 400 yuan cheaper than before.
Although consumers who have taken out new auto insurance have generally seen a decrease in premium, some car owners have said that the insurance premium has increased by a large margin this year. Recently, Ms. Huang told the Securities Daily: the premium of automobile insurance last year was less than 5000 yuan, but after the comprehensive reform of automobile insurance recently, the insurance company calculated the premium of more than 6200 yuan, and the premium increased by about 25%. The explanation given by insurance companies is that the discount rate of premium is lower than last year. In addition, small types of insurance such as water-related, glass and spontaneous combustion are merged into the vehicle damage insurance, so the premium is increased
Comprehensive reform forces insurance enterprises to improve their service ability
From the perspective of the industry, after the comprehensive reform of automobile insurance, the growth rate of automobile insurance premium may be under pressure in the short term, but in the long run, it is good for the development of the industry.
It is noteworthy that with the implementation of comprehensive reform of vehicle insurance, the property insurance industry may be affected by the short-term delay of vehicle insurance, and the growth rate has slowed down. Sun Jianping, chairman and CEO of Ping An Property Insurance, believes that the comprehensive reform of automobile insurance has entered the deep water area, and the industry will certainly have a period of pain. In the short term, the growth rate of automobile insurance premium in the industry may decline, or even negative growth, and the comprehensive cost rate may exceed 100%. However, market-oriented reform is the best choice for Chinas automobile insurance. Only by promoting market-oriented reform can we solve the long-term existence of the automobile insurance market In order to further achieve high-quality development of vehicle insurance.