What impact does the comprehensive reform of auto insurance have on insurance companies?

The comprehensive reform of auto insurance is mainly to promote the rational operation, standardized competition, compliant sales claims and strict management of property insurance companies. If we can eliminate the disadvantages of the insurance market, it is naturally the best. Reform is conducive to obtaining legitimate and reasonable intermediate income, standardizing financial business management and reducing the risk of violation of laws and regulations. Then, what impact does the comprehensive reform of auto insurance have on insurance companies?

The impact of comprehensive auto insurance reform on insurance companies is as follows:

1 for insurance companies, after the comprehensive reform of auto insurance, the amount of insurance and the amount of insurance will increase, and the growth and upgrading of new cars will also be hedged.

After the reform, industry underwriting losses may occur in a certain period of time, and even affect the quality of claims service.

With the promotion of market competition, the phenomenon of survival of the fittest in many industries is becoming increasingly obvious, and small and medium-sized property insurance companies will have operational difficulties.

The phenomenon of obtaining fees through various illegal means will be significantly reduced, which can reduce the leakage and tax expenditure, reduce the compliance risk and improve the industry image.

Generally speaking, all these situations are the impact of the comprehensive reform of auto insurance on insurance companies, but overall, they still have a certain positive impact. Market players will intensify differentiation, and it will be more difficult for some small and medium-sized companies with weak competitiveness to operate, but this is a normal phenomenon of survival of the fittest under the market mechanism, and it is also conducive to forcing their professional transformation. The reform will make insurance companies bear more responsibility for compensation. While benefiting consumers, the overall payout ratio of insurance companies is expected to rise to a certain extent.