Insurance industry risk guarantee structure should increase optimization intensity

In the first eight months of this year, the insurance company's original insurance premium revenue reached 3.5 trillion yuan, an increase of 4.8%year -on -year; the insurance industry provided risk guarantee amounts of 42.5%year -on -year. The growth rate of premiums is much higher than the growth rate of premiums, which has attracted widespread attention in the industry.

Popularly explained that the premium is the fee paid to insurance companies in order to obtain protection, and the insurance amount is the risk scale undertaken by insurance companies. The two are usually positively related, that is, when other conditions are consistent, the higher the insurance amount, the higher the insurance premiums need to be paid.

However, the gap between the growth rates of the two this year is large. There are two reasons: First, the impact of macroeconomic growth, the "big loss" of marketers, and the shrinkage of consumer demand, and the growth rate of industry premiums slowed down. Second, this year's insurance company's insurance company's insurance increase has slowed down, but the insurance company's insurance company accounts for relatively high and the growth rate is relatively fast, driving the rapid growth of the industry's insurance amount. According to data disclosed by the CBRC, the previous seven months, the insurance company's insured amount reached 81.769 trillion yuan, an increase of 51.8%year -on -year, while the personal insurance company's insured amount was only 84.36 trillion yuan, a year -on -year decrease of 5.9%.

The above situation can be described as half -mixed. What is happy is that many property insurance, such as liability insurance, corporate property insurance, engineering insurance and other types of insurance, are an important starting point for serving the real economy. The insurance growth rate is much higher than the premium, reflecting the insurance industry as a "stabilizer" The functions of "booster" and "cockpit" have been fully exerted. In addition, the rapid growth of the insured also reflects that some insurance companies have improved the underwriting capabilities through a series of means such as "controlling fees" and strengthening risk recognition capabilities. Therefore, the insured amount has improved at the same level of premiums.

Worried that the risk guarantee structure provided by the industry needs to be optimized urgently.

First of all, the personal insurance business has contributed the industry's over 70 % of the profit in the past three years, which is a decisive major type of insurance that affects the rise and fall of the industry. But in the first seven months of this year, the premium of personal insurance companies increased by 5.9%in the context of 3.4%. There are three main reasons for this: one is that some insurance companies have increased the scale of partial wealth management business sales; second, the million medical insurance with a large amount of insurance in the same period last year was higher; the third is that some insurance companies are equal premiums in the same premiums in the same premiums At the level, the amount of product insurance such as critical illness insurance is reduced. In fact, the value of partial wealth management insurance is low, and increasing the scale of such business is not conducive to the long -term healthy development of insurance companies. This is also an important reason why supervision has previously advocated "insurance surname insurance". In addition, in the front line of sales, the premium and premium ratio is also regarded as one of the reference indicators that reflect the cost -effectiveness of critical illness insurance. In the period of downturn in the industry, the premiums reduced under equivalent premiums are not conducive to the development of the industry.

Secondly, although the premiums and insurance amounts of property insurance companies have achieved positive growth, the insurance growth rate of some insurance types is significantly higher than the growth rate of premiums, which requires insurance companies to inspect whether the risk control is in place. For example, the insurance premiums in liability insurance increased by 12.5%in the first seven months, but the insured amount increased by 86.4%. Although there may not be underwriting risks in the short term, the growth rate of insurance continues to be more vigilant than the growth rate of premiums. It is difficult for enterprises to underwear a certain insurance capacity in a short period of time. It is worthwhile that the insurance type that has been far higher than the growth rate of premiums in 2016 is P2P performance guarantee insurance. The insurance type once caused a significant loss of multiple insurance companies, and some insurance companies have not left the quagmire so far.

All in all, in the past two years, the insurance industry has entered a trough period, and the market competition has intensified. Some insurance companies are eager to find new growth points, but in the process, we should firmly keep the risk bottom line. On this basis, the insurance should continue to optimize the risk guarantee structure. On the one hand, it is necessary to increase the guarantee of personal insurance business, especially through strengthening the underwriting capabilities to improve the level of guarantee for high -value business such as critical illness insurance and long -term life insurance businesses. Cultivate new kinetic energy for the industry's recovery; on the other hand, the development of the property and insurance industry must serve key areas such as national strategy, real economy, and people's livelihood construction, and continue to improve the level of guarantee of agricultural insurance and engineering insurance. (Su Xiangyu)

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