Research On Misleading Sales Of Participating Insurance

In recent years,the insurance industry in our country has continued to develop rapidly.The global rank of premium scale rose from the sixth in 2010 to the third in 2016,occupied about 10% of the global market share.The insurance products have been increasingly enriched and the business structure has been optimized.The insurance system has been continuously improved and the ability of insurance funds serving entity economy has risen significantly.However,it should be noticed that under the comprehensive influence of the economic downward pressure at home and abroad,the development of the insurance industry in our country will face many challenges.After the previous round of expansion,the insurance industry will enter the period of restructuring and adjustment.In the future,an important direction of the development of China’s insurance industry is getting rid of lopsided view of pursuit of maximum profit,strengthening service awareness and realizing a high degree of unity between economic value and social value.Effectively preventing and defusing of financial risks and protecting the legitimate rights and interests of consumers are important contents and goals of insurance industry transformation and development.In recent years,with the rapid development of the insurance industry,many illegalities and omissions have taken place,burying latent risks,disrupting the market order and damaging the legal rights and interests of insurance consumers.The most prominent and strongest problem which the insurance consumers reflect is misleading of insurance sales.Through the Report on the handling of insurance consumer complaints from China Insurance Regulatory Commission,it can be seen that participating insurance is the most prominent type of insurance misleading sales and the bank insurance facultative agent and personal insurance agent are the most serious sales channels.This article is on study of the misleading issue of participating insurance sales,mainly focusing on the channels of bank insurance facultative agent and personal insurance agent.First of all,according to relevant regulations and guidelines of the misleading insurance sales from China Insurance Regulatory Commission,the writer will define the misleading insurance sales behavior,combining with the concept and characteristics of participating insurance.Secondly,starting from a large number of complaint reports from insurance consumers received by China Insurance Regulatory Commission,the writer will summarize the main forms of misleading sales behavior of participating insurance in current insurance market,combining with the analysis of the real case.Thirdly,the writer will analysis the causes and forms from the objective and subjective aspects,which exists in the multiple parts of insurance companies,personal insurance agents,,the bank insurance facultative agents,insurance regulatory authorities and the Insurance Industry Association.Finally,the writer will come up with measures on solving misleading sales of participating insurance through improving company management,perfecting laws and regulations,strengthening supervision and inspection,establishing credit system,strengthening information disclosure and education.