Analysis On Sales Misleading Prevention Of Life Insurance In China

Insurance is the shock absorber and stabilizer of modern society.The importance of insurance to the healthy development of financial market is self-evident.China's insurance industry is developing rapidly and its influence in world market is increasing.In 2016,insurance industry still realized that the premium income was growing,but as one of the main insurance demand driving factors,global economic growth was only 2.5%,with China's insurance market growth being one of the main impetus.The sales of traditional life insurance products are increasing strong under the market-oriented reform of insurance rates and the positive influence of the government encouraging the development of government-guaranteed products.Even if China's life insurance market has deep development potential,and the industry prospect is very attractive,there are still stubborn,non-trivial and urgently needed to be cleared development obstacles.Among them,sales misleading is a lingering shadow of life insurance industry.Sales misleading is accompanied.by the whole development of insurance industry and has not been effectively governed.As the consumer demand is diversified and differentiated,the diversity of life insurance products is getting higher.Sales misleading performance also increases.According to the annual report of insurance consumer complaint of the insurance regulatory commission,in the case of personal insurance,the consumer complaint is usually divided into the contract dispute of the insurance company and the alleged violation of the law.In the case of the insurance company's illegal complaints,all kinds of sales violations usually account for nearly 90%.The sales misleading phenomenon in the life insurance field is rampant.Life insurance sales misleading is still the pain point of industry development.In June 2017,China insurance regulatory commission introduced.The insurance sales behavior can be traced back to the interim measures,continues to conduct detailed specification of insurance sales service behavior and solve the misdirection of sales fraud,which shows that the whole society is concerned about the sales misleading of life insurance.This paper starts with the theory research of sales misleading,analyzes the basic concept of life insurance sales misleading,compares the misleading behavior of life insurance sales with insurance fraud,summnarizes its manifestations,behavior characteristics and harms,and gives a brief introduction to the misleading situation of the life insurance market and current regulatory measures in China.Secondly,uses the GONE theory to analyze the influence factors of the individual sales misleading behavior of life insurance salesmen to have a deep understanding of the specific reasons why marketers mislead consumers,then,from the perspective of information asymmetry,the influence of marketing staff,insurance companies,regulators,insurance industry and insurance consumers on sales misleading in the life insurance sales process is comprehensively considered,and delves into the root causes of sales misleading of life insurance.Thirdly,sums.up the successful experience in life insurance sales supervision in the USA,Japan and the UK.Finally,aims at the cause analysis,and from the perspective of the life insurance market participants,the author puts forward effective countermeasures.