After buying a Car, on the one hand the annual Auto insurance Is a very topical, and what rate, ah, ah what the premium and so on, after all, Is the annual cost of thousands of investment, not a small number. ThIs does not, there are two recent News about Auto insurance outgoing, specifically what Is it? With a look!
to the minimum 3.3 fold! Commercial insurance rates reform secondary landing
June 9 thIs year, the CIRC further drop in commercial Auto insurance lowest dIscount rate, which Is following the second time since 2015, commercial vehicle insurance clauses and premium rates reform. It Is estimated that after thIs reform, the minimum dIscount Auto insurance rates from the current 0.4335 further down to 0.3825, 0.3375 low in some areas, in some areas even lower. ThIs means that the owner has a good safety record and driving habits in a sound business insurance companies, premiums may fall 20%. While liberalization of price formation mechanIsm, CIRC Will “punch” the high cost of competition regulation, Auto insurance claims difficult Issues.
For consumers, through thIs fee change, if good driving habits, it Is possible to enjoy greater price concessions when the next insurance year. For insurance companies, a number of industry sources, the lowest dIscount rate cut on the one hand allow the company to gain greater pricing power, while reducing the cost of marketing the middle; on the other hand the new regulations also brings more competition in the industry sparks, Forced insurers to enhance underwriting, claims and other sectors.
how to change it: the seven regions Auto insurance dIscount rate fell to the lowest 0.3375
and the first business fare change compared to the current reform of the insurance company to further expand the floating range of the price factor. Before the first fee reform, commercial Auto insurance premiums = * benchmark premium rate adjustment factor; and the exIsting standard commercial Auto insurance premiums = pure rIsk premium / (1 – Additional expense ratio) * * NCD coefficient independent underwriting factor * independent channel coefficients. Among them, the pure rIsk premium benchmark and NCD coefficient reference rate base rate adjustment programs American Insurance Association proposed the implementation of the company’s self-developed and self-underwriting factor channel coefficients can float between [0.85,1.15].
After thIs reform, by the insurance company approved by two independent coefficients floating range adjusted to a wider range. Which Tianjin, Hebei, Sichuan ProvinceGuangxi Zhuang Autonomous Region, Fujian Province, Xiamen City, Qinghai Province, Qingdao City, eight regional implementation of the “double 75”, that Is, self-underwriting factor and independent channels may fall to the lowest coefficient of 0.75. Henan Province, the implementation of “75-80”, New York to perform the “double 70”, the implementation of “75-85” in other regions.
Under the current formula for calculation of commercial Auto insurance premiums, there are seven regions can enjoy the lowest dIscount rate of 0.3375. They are: Tianjin, Hebei, Fujian Province, Qingdao City, Shandong Province, Guangxi Zhuang Autonomous Region, Sichuan, Qinghai Province.
owners What are the benefits? : Lower premiums, more options
after the first commercial Auto insurance rate reform, Cars are premium declined by 5.3% compared to the previous. According to industry estimates, after the current round of reform, the insurance industry, commercial Auto insurance loss ratio may be increased by 3.6 percentage points.
from the current norm of view of commercial Auto insurance terms, than in the past to expand the coverage. Whether the Car Is damaged because of a natural dIsaster, or a new Car not on the Cards on the case of an accident, they are included in the scope of payment. In addition, the insured or the driver’s family can be paid in liability insurance items; after a special additional rIsks insured, Will no longer deduct 30% of the third party can not find the absolute deductible.
and commercial Auto insurance pricing mechanIsm Is more considered rIsk factors tend to “a Car for a price.” After the first charge Is introduced NCD change coefficient (coefficient NCD), a premium and dangerous condition directly linked. If the year without the dangerous condition, the premium may hit 8.5 fold; two years without danger, premiums hit 7 fold; for three consecutive years without danger, premiums hit 6 fold. However, if the dangerous condition of more than five times a year, the premium Is likely to go up to the past two times.
Ping An Property Insurance Deputy General Manager Shi Liang said, for consumers, if maintaining good driving habits, it Will be possible to obtain a greater price for Car insurance next year. ThIs means that consumers can spend less cost to get more protection, a move to further stimulate the consumer’s Willingness to buy, make Auto insurance products to play a greater social security functions.
For the second fee reform, insurance institutions may be “SCared.”
In 2016, the first commercial Auto insurance rates in the country’s reform and open, and the first quarter of 2017, Auto insurance industryPremium growth of only 6.6%, year on year growth rate decreased significantly, nearly 85% of customers renew premium also declined; look back to 2016, Auto insurance premium income totaled 683.4 billion yuan, an increase of 10 percent, accounting for the total property insurance companies 74% of premium income. However, the insurance company Auto insurance among only less than three percent of the company’s Auto insurance underwriting profit. The PICC, Ping An, CPIC three, Auto insurance industry in 2016 contributed more than 8 percent of the profits, it also means that each property insurance companies to compete in the Auto insurance market increasingly fierce.
play together various insurance firms, who have the last laugh?
太平洋产险 official said, Auto insurance claims process from the point of view, there are three general “pain points”: First, after the dangerous condition survey Will damage limitation slow; the second Is to collect documents slow aging; Third, compensation pay part slow. Change the face of the second fee, the company Will further accurate positioning of target customers, marketing-rich, high-quality and improve customer acquIsition and retention capabilities while optimizing the allocation of resources in the background, to strengthen the claims management and control, Auto insurance operating results remain stable. In the allocation of resources, the company Will continue to favor core channel, key customers, key areas to enhance the input-output ratio. In terms of business development, to accelerate the application of new technical tools, around the “Car service” to build Internet ecosystem, improve the ability to obtain new customers and promote a sustainable and healthy development of Auto insurance.
and casualty insurance responsible person believes that the insurance companies, the factor used to adjust the lower limit of the insurance company pricing power has been further expanded, use intuitive judgment coefficient of business rIsks also declined, prompting Insurance companies continue to optimize its own pricing models and rIsk screening tools, the insurance company’s business and rIsk management can be improved; the same time, the direct costs to change the dividend customers can effectively reduce intermediate costs, the insurance company can devote more resources to underwriting, claims and so on to enhance the service experience, thereby gaining more recognition of our customers, and promote the rapid development of insurance business in harmony. The official said the next stage, the company Will adopt the “Speed City Scene Investigation,” “a key arranged” and other services to enhance claims service experience.
The industry Is expected, commercial Auto insurance rates after the second reform, on the one hand, the insurance company Will further expand the space for independent pricing Auto insurance premium adequacy Will further reduce Auto insurance profit margins Will be further compressed; on the other hand , the market cost of the return Will take some reasonTime period, was re deepen the initial implementation, the market Is expected to cost ratio Will continue to run at a high level. In addition, the deepening of reform in terms of the current in some areas, with floating rates, market regulation can be chaos, it helps to guarantee the origin of the insurance industry to provide return and achieve positive and healthy development of the industry.
network transmIssion travel tax / or to pay high insurance prices?
– credibility Is not high
According to network News, from July 2017 1, the travel tax Is likely to price increases, but also with the owners pay high insurance driving habits change. However, according to the survey editor, thIs message credibility Is not high.
● travel tax
currently exIsting travel tax fee in accordance with vehicle emIssions standards are to be charged, charges are not uniform across the country, California, for example, specific charges are as follows:
the current tax travel expenses in accordance with vehicle emIssions standards are to be charged, and network transmIssion standard travel tax fee Is charged according to the number of passenger vehicles, and if According to network transmIssion fees, and some models of the travel tax it Will fall.
Toyota Coaster 2015 models 4.0L luxury Cars GRB53L-ZEMSK 23-seat model, for example, according to the exIsting California travel tax fee standard travel tax Is 3480 yuan, but in terms of network transmIssion “the new standards” travel tax to between 480 yuan -660 yuan, Will not be like the price network transmIssion, but the travel tax Will drop a lot. According to thIs example to infer that the net transfer of “travel tax price” message Is not reliable.
● Traffic Insurance
network transmIssion “new rules”, in addition to mention travel tax, but also indicate the changes Will have to pay high insurance. Currently six of the following family Car every year to pay high insurance fee Is 950 yuan / year, household 6 and above models 1100 yuan / year. Lower assume that from July 1, traffic law to pay high insurance floating up and down, that Is to say after expenses to pay high insurance Is not fixed, and good driving habits of the owners of the premium, higher and vice versa.
– net transfer to pay high insurance float range:
The News that pay high insurance only in the first year of the new Car insurance when the price Is fixed. After the second year of reinsurance, when the price Will be with theThe previous year the number of claims and change, the less the lower the premium claim number; the contrary, claims too many times it Will directly lead to rIsing premiums.
If after the expiration of three years to pay high insurance, the highest rate of up to 169% (ie 1.69 times the basic premium), the minimum rate of 56%. If calculated according to the current 950 yuan premium basIs, the highest price difference Will reach 1073.5 yuan. The method of calculation Is 950 * (1 + a), a minimum deposit 665 yuan, pay up to 1,235 yuan. Travel tax increase Is inevitable, but the owners want to reduce pay high insurance premiums, but also to develop good driving habits and reduce the number of dangerous condition.
“to pay high insurance fees minus” ThIs message may seem very nice, but many came before a similar message, but each Will be rumors, though the official also did not give a clear message, but just combine infer travel tax, editors judge on pay compulsory insurance of thIs News Is not very reliable.
● Summary: After
edit heard thIs News, specially to see the Traffic Management Bureau and California Municipal State AdminIstration of Taxation of the site, did not find these two sites posted on the travel tax Is about to rIse the price of the message, but there Is no official rumor related News found. However, as in the example cited in the article, network transmIssion, “the new regulations” have been emphasizing the price, and the comparIson we found in accordance with the “new rules” of some models to calculate the travel tax it Will cut prices, so for “network transmIssion travel tax prices, “the News we sidelines.