What kind of Internet insurance business behavior does the insurance institution undertake according to law?

With the in-depth application of Internet and other technologies in the insurance industry, Internet insurance business, as a new form of insurance sales and service, has a profound impact on insurance formats and insurance supervision. With the rapid development of internet insurance business, some problems and hidden risks have been exposed, which has brought challenges to the industry and supervision. Measures for the Supervision of Internet Insurance Business (Draft for Comment) drafted by CBRC, hereinafter referred to as the Measures. The "Measures" clearly define the behavioral boundaries of non-insurance institutions and draw a red line: First, insurance product consulting services are not allowed; Second, it is not allowed to compare insurance products, premium trial and quotation price comparison; Third, it is not allowed to design insurance plans for the insured; Fourth, insurance procedures are not allowed; Fifth, it is not allowed to collect premiums and other acts. Those who exceed the prescribed red line shall bear the responsibility according to law.

1. What is the definition of Internet insurance business and the scope of application of the Measures? For online and offline business integration, how to connect and apply regulatory rules?

According to the nature and development law of Internet insurance business, the Measures define "Internet insurance business", that is, "insurance institutions conclude insurance contracts and provide insurance services by relying on the Internet."

The Measures stipulate that an insurance business that meets the following three conditions at the same time is an Internet insurance business:

First, insurance institutions sell insurance products or provide insurance brokerage services through the Internet and self-service terminal equipment;

Second, consumers can independently understand product information through the sales page of the self-operated network platform of insurance institutions;

Third, consumers can complete insurance activities independently.

The Measures stipulate the applicable methods of policy convergence in three common situations of channel integration:

First, in the internet insurance sales or insurance brokerage business activities, employees of insurance institutions provide consulting services, and their service behavior should also comply with the provisions of the insurance regulatory system on the use of the same method to carry out insurance sales or provide insurance brokerage services;

Second, if the insured completes the insurance by himself through the insurance link of insurance products provided by insurance institutions and their employees, it shall also comply with the relevant regulatory provisions of these Measures and their affiliated channels;

Third, other insurance sales or insurance brokerage businesses involving online and offline integration are also subject to online and offline regulatory rules. If the rules are inconsistent, it shall be implemented in accordance with the principle of benefiting consumers. In addition, if insurance institutions and their employees sell offline in the name of Internet insurance business, including face-to-face sales by employees with the help of mobile exhibition tools, online entry by employees after collecting insurance information, etc. , should meet the relevant regulatory requirements of their respective channels, and these Measures are not applicable.

3. Which institutions can carry out Internet insurance business?

What conditions should an insurance institution have to carry out Internet insurance business? Do I need to apply for a business license or put on record? The Measures stipulate that Internet insurance business shall be carried out by insurance institutions established according to law, and other institutions and individuals shall not carry out Internet insurance business. Insurance institutions shall not carry out Internet insurance business beyond the business scope specified in the license (filing form). The insurance institutions mentioned in the Measures include insurance companies (including mutual insurance organizations and Internet insurance companies) and insurance intermediaries. Insurance intermediaries include insurance agents (excluding individual agents), insurance brokers and insurance assessors. Insurance agents (excluding individual agents) mentioned in the Measures include professional insurance agencies, banking insurance agencies and Internet enterprises that have obtained insurance agency business licenses according to law. The Measures stipulate the conditions that insurance institutions and their self-operated network platforms should meet, including website filing, information system, security protection, level protection, marketing model, management system, system construction, supervision and evaluation, etc. As long as the insurance institutions meet the conditions stipulated in the Measures, they can carry out Internet insurance business without handling business license or business filing. Those who do not meet the prescribed conditions shall not engage in Internet insurance business. Those who have already engaged in it shall immediately stop selling insurance products or providing insurance brokerage services through the Internet. If the rectification meets the prescribed conditions, the relevant Internet insurance business can be resumed. In addition, the "Measures" strengthen the supervision after the event, and stipulate the business scope, insurance restrictions, regulatory measures and legal responsibilities.

Annex Measures for the Supervision of Internet Insurance Business (Draft for Comment).

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