Taiping Life’s suspension of short-term health insurance causes controversy, hundreds of agents demand that the company continue to perform

Reporter | Yuan Yiming

Edit | Xie Xin

Recently, a video of hundreds of insurance agents in Heilongjiang region of Taiping Life Insurance Company (hereinafter referred to as "Taiping Life") "collectively defending rights" has been circulating on Internet platforms such as Douyin
.

The video showed that hundreds of Taiping Life insurance agents gathered in front of Taiping Life’s gate to "discuss"

The fuse of this incident was that Taiping Life suddenly stopped selling 32 short-term health insurance products including "Medical Care"
.

Short-term health insurance, that is, health insurance with an insurance period of one year or less
.

Taiping Life Insurance's insurance product "Doctor Wuyou" is a short-term health insurance product

The PPT for internal training of Taiping Life Insurance sales agents circulating on the Internet shows that the previous "Medical Wuyou" product promised customers "guarantee renewal to 80/100 years old", and the agents promoted the products to customers in accordance with the training techniques
.

An agent said that the sudden suspension of sales this time and requiring surviving customers to report other types of insurance is an illegal act, which damages the rights and interests of customers and prevents the agent from explaining to customers

In fact, Taiping Life stopped selling "Medical Care" for a reason
.

On January 11 this year, the China Banking and Insurance Regulatory Commission issued the "Notice on Regulating Short-term Health Insurance Business Related Issues" (hereinafter referred to as the "Notice"), requiring insurance companies not to use "automatic renewal" in terms of short-term health insurance products and promotional materials.

The previous promotional content of "Yiwuyou" obviously conflicted with the requirements of the "Notice", so Taiping Life had to stop selling 32 short-term health insurance products including "Yiwuyou"
.

How the above incident will end is still unknown, and Taiping Life has not responded to related inquiries from Jiemian News
.

Wang Qing (pseudonym), a senior practitioner in the insurance industry, told Jiemian News that although the agent is obliged to understand the terms and rules of insurance products, after all, the identity of the insurance agent is based on the insurance company’s authorization and within the scope of the insurance company’s authorization.
The internal agent is an institution or individual that handles insurance business
.

Therefore, the behavior of the insurance agent is also affected by the main company, and there are certain internal reasons for the protection of the agent's rights

       Deng Hua, the team leader of a leading intermediary company, believes that every type of insurance can only enter the market with the approval of the China Banking and Insurance Regulatory Commission.
The text in the insurance policy of Taiping Life Insurance has never appeared "guaranteed renewal".
Of
.

Therefore, the problem may be that the team made a misleading statement when training the agent

       Deng Hua believes that some insurance agents also bear corresponding responsibilities
.

"As a practitioner in the insurance industry, I have not figured out the concept of'guaranteed renewal'.

       In fact, Taiping Life is not the only company that stopped selling short-term health insurance
.

According to incomplete statistics from Jiemian News reporters, at present, ICBC AXA Life, CCB Life, Fude Life Life, etc.

       In accordance with the requirements of the "Notice", if an insurance company decides to stop selling short-term health insurance products, it should inform the insurance consumers of the specific reasons, specific time, and follow-up service measures of the products, and provide information for the insurance consumers who have purchased the products.
Protection services will continue to be provided during the insurance period, and reinsurance suggestions will be provided at the end of the insurance period
.

       Although it is possible to transfer insurance, it is not ruled out that some policyholders purchase such products only after taking a fancy to the "commitment renewal" among the insurance agent population
.
It is not yet certain how to compensate for the losses of this part of consumers
.

       Wang Qing believes that if there is confusion in the sales management of insurance products, there will be conflicts and losses in the process of correction
.
How to further reduce the losses of insurance companies, agents, and customers depends on the follow-up specific communication and coordination of the three parties
.

       The short-term health insurance that has received much attention before is also the online celebrity product "Million Medical Insurance", which was born in 2016 and quickly occupied the market in four to five years
.

       The "Medical Worry-Free" incident this time seemed to be a "thunderstorm" incident for short-term health insurance
.
But in fact, this is just to pull the Internet celebrity insurance category represented by "Millions of Medical Insurance" from the "sacred altar" and let it play its role
.
Since it is a short-term health insurance, you should not mislead policyholders with words such as "commitment to renewal"
.

       Deng Hua told the Jiemian News reporter that the one-year “Medical Insurance for One Million” can become an Internet celebrity product step by step, mainly because of its low price, and the Internet has also made the promotion of insurance products more effective and the operation of customer insurance easier and more convenient.
, Which promoted the rapid increase in the market share of "Millions of Medical Insurance"
.

       However, under market demand, the management capabilities of insurance companies have not kept up with the speed of their product expansion, and contradictions have arisen
.
Wang Qing explained that previously, the China Banking and Insurance Regulatory Commission did not clearly stipulate that short-term health insurance must appear "non-commitment renewal
.
" Various insurance companies have different expressions on the renewal clauses of short-term health insurance, which also leaves loopholes for insurance companies in sales, training, and publicity
.