After the auto insurance reform was officially implemented on September 19, the car owners who have recently renewed the insurance have already felt the changes before and after the reform.
But with the new car insurance in the market, some new voice also appeared. A microblog netizen launched a vote on whether the premium will rise or fall on the 27th. As of the afternoon of the 2nd, 110 of the 238 people who took part in the voting chose not to drop but to rise, and 43 to reduce a lot. 46% of the sample size of the car owners who choose not to drop but to rise is nearly half of the sample size.
Others complained on social networks that their car damage insurance was bundled with a bunch of previously unselected protections, leading to higher premiums.
Lower rates, higher security
On September 7 this year, the China Association of Actuaries released a new version of the benchmark pure risk premium table for commercial vehicle insurance. The net risk premium rate of new car insurance in 2020 is about one-third lower than that of the old one.
This has to start with the car insurance reform program. The main changes of the new auto insurance are as follows:
2. The third party liability insurance has increased from 50-5 million yuan to 100-10 million yuan;
3. The liability for vehicle damage insurance has been expanded, and seven items have been added, including theft and rescue, glass breakage, spontaneous combustion, engine water intrusion, no deductible, designated repair shop, and failure to find a third party insurance;
4. In the past, the number of accidents was only retroactive for one year. Now, the new clause will go back three years.
For example, in the past, seven additional items, such as theft and rescue, glass breakage, spontaneous combustion, engine water intrusion, no deductible, designated repair shop, and unable to find a third-party insurance, are now packaged into the vehicle damage insurance. For those who have previously purchased additional insurance, the price is indeed reduced, but for those who did not buy additional insurance before, passive additional will not reduce the price Obviously, there may even be a rise.
Whether the scope of vehicle damage insurance should be expanded has always been controversial in the industry. Some people think that in order to improve the user experience of car owners and reduce the impression of no compensation for this or no compensation for that in vehicle insurance, the risk of glass breakage and spontaneous combustion should be included in vehicle damage. However, some people think that commercial vehicle insurance and compulsory traffic insurance are different. They follow the principle of voluntary purchase, and should give consumers the right to choose, so as to avoid the package sales of cold category insurance.
Some people in the industry have questioned that it is reasonable to include seven additional risks into the main insurance and form a new model clause. From the perspective of the terms, it is reasonable to expand the protection and simplify the products. However, from the perspective of the rate, the additional risks are the insurance companies with the most profits and the lowest loss ratio, such as theft and rescue, glass breakage alone, engine wading in water, etc., and the loss ratio is very low It means that the premium rate is high. In the past, these additional risks were not compulsory insurance, so customers could choose. It is reasonable to include all these liabilities into the main insurance and all customers must purchase them in bundle. At the same time, it is unreasonable to simply add the current excessive premium of additional insurance.
Many factors can lead to higher premiums
Commercial insurance premium = benchmark premium u00d7 rate adjustment coefficient, of which rate adjustment coefficient includes three items, namely, no compensation preferential coefficient (no accident in this year, discount in next year), traffic violation coefficient and independent pricing coefficient (defined by each company according to the judgment of risks to people and vehicles).
A 4S store source told reporters that after the car reform, the premium is related to more than 70 risk factors, such as the owners gender, age, driving age, credit investigation, whether the drivers license is deducted, and whether there are claim settlement records. Drivers age, gender, driving habits and vehicle type will affect the premium.
Many owners who have recently renewed insurance told reporters that the premium of new auto insurance has dropped by 10% - 15%, because they have not been out of danger for 2-3 times in a row.
The difference between different car models after the reform. The model factor is divided into 30 grades. For the models with low accident rate and low maintenance cost, the benchmark pure risk premium has decreased compared with the previous ones; because of the high zero to integer ratio and high maintenance cost, luxury models have been upgraded in the model classification of the reform, and the commercial insurance will also have a relatively obvious growth.
In the reporters interview, many car owners said that this years commission rebate did not have or reduced. The above 4S store staff also said that this year, the channel will directly change the rebate to reduce the premium. Some car owners found that after the rebate income is removed, the actual premium paid this year is higher than that of last year.
Why is it easy to rise but difficult to decrease?
At present, Chinas car ownership has reached 260 million, and vehicle insurance is the largest business in the property insurance market. The problems of high pricing, high handling charges, extensive operation, disordered competition and data distortion have been intertwined for a long time. The reform of vehicle insurance in 2020 will be more intensive, and it will be positioned as comprehensive reform and all-round reform.
First of all, the insurance company will face the impact of the decline of premium after the reduction of vehicle insurance rate. Once the scale of premium decreases, the expenses that can be obtained from the sales channels of automobile insurance will be reduced, and the Commission of sales personnel will also be reduced accordingly. It is expected that after the reform, the scale of the industrys premium may decline to a certain extent, and the phenomenon of industrial underwriting loss may appear in a period after the reform.
The scale of premium is the interest of the industry, which is also why the premium is always easy to rise but not easy to fall, making the owner of the car become the difficulty of every car insurance reform.
However, reform has always been pushed forward in obstacles. In this car reform, the benefit of car owners is obvious. After the insurance coverage is increased, the risk can be more effectively offset. After the coverage is increased, the consumption experience of vehicle insurance will be better.
For insurance companies and intermediary channels, after the baptism of this round of vehicle insurance reform, the property insurance industry needs to actively adapt to the changes in the new market, strengthen cost control, and strengthen physical fitness, so as to usher in high-quality development.