A new insurance company needs a certain number of people, and it can only be approved to start business when the number reaches, which shows that the company is still in the preparatory stage! Insurance companies are strictly supervised by the China Insurance Regulatory Commission! I guess what you said is what your director said! You can ask the person in charge of their company if this is the case! What a joke!
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.