1. From what aspects does China CIRC evaluate the business risks of insurance companies?
1, the external environment of the company's business risks, including the overall level and trend of the industry's business risks;
2. Internal control procedures and processes of each business line, historical data, experience distribution and development trend of operational risks;
3. Personnel factors that may lead to business risks, including recruitment, dismissal, training, leadership and sustainable development planning, performance management, salary, etc.
4. Problems and risks existing in the company's information system, including system design defects, software and hardware failures or deficiencies, information security and data quality risks;
5. External factors that may lead to the company's business risks, including laws and regulations, regulatory policies and force majeure.
Through the comprehensive risk rating, we can clearly distinguish the gap between the business levels of various insurance companies, which is conducive to guiding the insured to correctly choose insurance companies and achieve the greatest protection.
Two, understand the importance of insurance company risk rating to the insured:
The comprehensive risk rating * * * is divided into four grades: A, B, C and D. Every year, the CIRC will evaluate each insurance company, which reflects the company's solvency and provides a standard for the insured to choose an insurance company. Blind choice is equivalent to fighting an unprepared battle, and you will never be able to settle down. Therefore, before determining the insurance, the parties should carefully understand the comprehensive risk rating of the intended company in order to confirm the final result and realize effective insurance.
For insurance companies whose solvency is not up to standard for a long time, the state will take effective regulatory measures to deal with insurance companies that are caught in a governance deadlock according to law, investigate the responsibilities of relevant shareholders, and start the market exit mechanism when necessary to ensure the healthy, safe and sustainable operation of the insurance industry.
Third, comprehensive risk rating is helpful to solve the problems of "which insurance company is good" and "which insurance company is reliable"
With the development of social economy and science and technology, people's awareness of risk is constantly enhanced, and they will learn about insurance companies through various channels before taking out insurance. Then, as consumers, we should not only know the original premium income of each insurance company, but also look at the repayment rate and risk assessment level of each insurance company. China CIRC will publish the comprehensive risk rating list of insurance companies in that year every year. People can judge the risk-taking ability and solvency of the corresponding companies through the classification of four levels of insurance companies, which is conducive to making better choices and taking out insurance with confidence.