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Notice on matters related to strengthening and improving the supervision of Internet property insurance business

Golden Rules [2024] No. 9

Various financial regulatory authorities，Various property insurance companies、Insurance intermediary:

To further standardize the Internet property insurance business，Effectively prevent industry risks，Effectively protect the legitimate rights and interests of financial consumers，Promote the digitalization of the property and casualty insurance industry、Intelligent transformation，Achieving high-quality development of Internet property insurance，Based on the "Insurance Law of the People's Republic of China"、"Measures for the Supervision of Internet Insurance Business" (China Banking and Insurance Regulatory Commission Order No. 13, 2020)、"Measures for the Administration of Insurance Sales Practices" (State Financial Supervision and Administration Bureau Order No. 2, 2023) and other laws and regulations，We are hereby notifying you of the following matters regarding strengthening and improving the supervision of the Internet property insurance business:

　一、Insurance institutions as mentioned in this notice include property insurance companies (including mutual insurance organizations and Internet insurance companies) and insurance intermediaries。

The insurance intermediaries mentioned in this notice include professional insurance agencies、Insurance broker、Insurance adjusters and commercial banking insurance agencies。

Internet property insurance business as referred to in this notice，Refers to property insurance companies setting up self-operated network platforms or entrusting insurance intermediaries to operate on their self-operated network platforms，Selling property insurance products、Enter a property insurance contract、Insurance business activities that provide property insurance services。

　二、Property insurance companies other than Internet insurance companies carry out Internet property insurance business，Should meet the following conditions:

(1) The comprehensive solvency adequacy ratio for the last four consecutive quarters is not less than 120%，Core solvency adequacy ratio is not less than 75%;

(2) The comprehensive risk rating for the last four consecutive quarters is Category B or above;

(3) Other conditions specified by the State Administration of Financial Supervision.

Internet insurance companies carry out Internet property insurance business，Should comply with the relevant conditions of the "Internet Insurance Business Supervision Measures"，And solvency at the end of last quarter、Indicators for comprehensive risk rating that meet the requirements of the preceding paragraph。

三、Insurance institutions carry out Internet property insurance business，We should adhere to the essential requirements of serving the real economy and the people。Support property insurance companies to develop small-amount decentralization based on specific Internet scenarios、Convenient and inclusive property insurance products，Improve the convenience and availability of insurance services。

Four、Property insurance companies that meet the conditions of this notice，In principle, the business area of ​​Internet property insurance business can be expanded to provinces (autonomous regions) where branches have not been established、Municipality、City with separate planned status)dafabet online sports betting app，And promptly report the development of Internet property insurance business to the dispatched office in the expansion area。

Short-term health insurance and accidental injury insurance operated by property insurance companies through the Internet，Should comply with the relevant requirements of the "Notice of the General Office of the China Banking and Insurance Regulatory Commission on Further Regulating Matters Related to the Internet Personal Insurance Business of Insurance Institutions" (Chinese Banking Regulatory Commission Banfa [2021] No. 108)。

Strictly control property insurance companies to expand their motor vehicle insurance business areas through the Internet to provinces (autonomous regions) that have not established branches、Municipality、City with separate planned status)。Have strong risk management、Internal control management and comprehensive service capabilities，Match the corresponding regional market environment、Market Capacity、Business needs、Competition level, etc.，Meet the corresponding regional regulatory requirements，Can be implemented after careful evaluation by the State Administration of Financial Supervision。

Property insurance company operates agricultural insurance、Ship insurance、Special risk insurance and other types of insurance，In principle, business areas cannot be expanded through the Internet。

　五、It is strictly prohibited for property insurance companies to expand their offline business areas through the Internet，Avoiding territorial supervision。

Six、Property insurance company launches Internet property insurance business，Insurance contract revision should be established、Refund、Full-process service system including claims settlement and complaint handling。The whole process cannot be provided online，Property insurance companies should inform financial consumers in a conspicuous manner before signing an insurance contract，And disclose it on the self-operated online platform or the self-operated online platform of the entrusted insurance intermediary;Some types of online insurance services need to be suspended due to special reasons，Financial consumers should be informed 5 working days in advance，And disclose it on the self-operated online platform or the self-operated online platform of the entrusted insurance intermediary。

Seven、Property insurance company launches Internet property insurance business，Should be in accordance with laws, regulations and regulatory requirements，Provide a clear and concise operation interface，Convenient for financial consumers to query policy information、Insurance surrender and other operations;Accurately confirm financial consumers’ willingness to purchase insurance，Record and save the operation track of financial consumers on the sales page and explain the relevant information of insurance terms to financial consumers，Effectively protect financial consumers’ right to know、Legal rights such as the right to independent choice and the right to fair trade，Do a good job in traceability management。

八、Property insurance company launches Internet property insurance business，Business risk management should be strengthened in accordance with regulations，Actively use scientific and technological means，Establish and improve risk monitoring and early warning mechanisms，Build comprehensively、Dynamic、Intelligent risk management system。

Property insurance companies carry out Internet property insurance business，Core risk control should ensure independence and effectiveness，Core business links that affect risk management must not be fully entrusted to cooperative institutions，Do not rely solely on data from partner institutions for risk identification、Evaluation and Control。

An insurance intermediary that cooperates with property insurance companies in the Internet property insurance business，dafabet online betting websiteCustomer information should be provided to property insurance companies、Risk control data, anti-money laundering data and other insurance business core information。

Property insurance companies carry out Internet property insurance business，Online business and online and offline integrated business should be strictly distinguished，Establish a sound separation mechanism，Effective isolation and prevention of business risks。

　九、Property insurance company launches Internet property insurance business，We should adhere to compliance and prudent operations，Strengthen data security protection。

(1) Property insurance companies and Internet platforms cooperate in Internet property insurance business，Partners should be chosen carefully。Establish a cooperation object access and exit mechanism，Clear corresponding standards and procedures，Carry out full evaluation and due diligence on cooperation partners，And implement list management。According to "Equality and Voluntary、Fair and reasonable、Quality and price match、Negotiate with partners to determine charging items based on the principle of “matching returns and risks”、Standards and payment methods。Maintain operational independence and a fair competitive market environment。Internet platform insurance agency business should obtain an insurance agency business license。

(2) Internet property insurance business that provides relevant protection based on specific scenarios，Property insurance companies should strictly abide by relevant regulations on insurance product supervision，Scientifically assess the risk status of specific scenarios，Fair、Reasonably formulate insurance terms and rates，Do not develop insurance products that violate insurance principles。

(3) Property insurance companies carry out Internet property insurance business，Data collection and use should be regulated，Strengthen the whole process management of data，Clear the partner institution in data collection、Processing、Boundaries of responsibility for storage, etc.，Comply with laws and regulations、Social ethics、Business Ethics，Effectively fulfill data security protection obligations。Follow legal、Legitimate、Collection of necessary principles、Processing and use of personal information。

　十、Insurance intermediaries carrying out intermediary business related to Internet property insurance business should meet the following conditions:

(1) Professional insurance intermediaries should be national institutions;

(2) Have more than three years of experience in property insurance business;

(3) Sales Management、Policy Management、Customer service and other information systems are complete，Business process management meets business needs，The institution itself meets the relevant requirements for traceable management of Internet property insurance business;

(4) Other conditions specified by the State Administration of Financial Supervision.

Eleven、Property insurance companies can go through our branches、Offline cooperation organization，Provide Internet property insurance business landing services to financial consumers。Offline cooperative institutions refer to other insurance institutions and their branches，Including regional insurance professional intermediaries。

(1) Property insurance companies provide on-site services through our branches，The scope of authorization should be clear，Strengthen service process management and service quality management，Ensure the organic integration of online and offline services。The service level of branches cannot meet the requirements of Internet property insurance business，The new local Internet property insurance business should be immediately suspended and financial consumers should be informed in a timely manner，Rectify by improving or adding other forms of landing services，Only those who meet the requirements can continue to develop new Internet property insurance business locally。

(2) Property insurance companies entrust offline cooperative institutions to provide landing services，Partners should be carefully selected，Offline cooperative institutions should have three years or more of property insurance business dafabet live casinoservice experience。Property insurance company launches service to new citizens、Internet property insurance business in the new kinetic energy field，The requirements for the operating time limit of offline cooperative institutions can be appropriately relaxed。Service capabilities and quality should be strictly controlled，Be responsible for handling financial consumer complaints and opinions，Clear the rights and obligations of both parties through an agreement，Scope of cooperation，Cooperation period，Charged items、Standards and payment methods，Dispute Resolution，Liability for breach of contract and handling of financial consumer complaints，Information protection and other financial consumer rights protection matters，Do not refuse to accept and handle reasonable demands and opinions raised by financial consumers on the grounds of cooperation agreements with offline cooperative institutions。Service evaluations should be conducted no less frequently than annually。Poor evaluation result for existence、Many financial consumer complaints and reports、Low quality of service、Offline cooperative organizations with problems such as poor internal management，Measures should be taken promptly，And do a good job in matters related to the protection of the rights and interests of financial consumers such as information disclosure and continued service plans。

(3) Property insurance companies operate policies through the Internet、Property insurance business with strong geographical location，Should strictly comply with regulatory authorities、Industry authorities、Requirements of relevant government functional departments for their implementation services,Better built、A more powerful landing service system，Invest sufficient technical resources、Human Resources，Do a good job in risk management and full-process services。

twelve、Property insurance company launches Internet property insurance business，A clear development strategy for Internet property insurance should be formulated，Have an internal control management system suitable for the business scale，Establish a clear Internet property insurance management department，Sufficiently staffed with professionals，Establishing duty performance evaluation of key Internet property insurance personnel、Mechanisms such as deferred payment of performance compensation and recourse for rebates。

Thirteen、The State Administration of Financial Supervision and its dispatched agencies have division of labor according to their responsibilities，Implement daily monitoring and supervision of Internet property insurance business。The dispatch office where the Internet property insurance business underwriting institution and the local service institution are located found that the insurance institution does not meet the operating conditions of this notice，Or there are risk issues in the business process，Insurance institutions can be ordered to make rectifications within a time limit。Overdue rectification，Operating operations may seriously endanger the stable operation of insurance institutions，Damage to the policyholder、Legitimate rights and interests of the insured，Corresponding regulatory measures can be taken in accordance with the law。After rectification by the insurance institution，A rectification report should be submitted to the State Administration of Financial Supervision or its dispatched office。

Fourteen、A property insurance company that does not meet the operating conditions stipulated in Article 2 of this Notice，New Internet property insurance business should be stopped immediately。Within 10 working days from the date of stopping new business，Report to the General Administration of Financial Supervision or its dispatched agency responsible for daily supervision，And on the official website、Relevant information disclosed by self-operated online platforms and self-operated online platforms of entrusted insurance intermediaries。For insurance contracts that have taken effect，Should continue to fulfill dafabet online sports betting appthe insurance liability stipulated in the contract，And provide follow-up services such as claims settlement。

Property insurance companies that meet the requirements after rectification，New Internet property insurance business can be resumed。

Property insurance company resumes new Internet property insurance business，Should be reported to the State Administration of Financial Supervision or its dispatched agency responsible for daily supervision 20 working days in advance，And on the official website、Self-operated online platforms and self-operated online platforms of entrusted insurance intermediaries proactively disclose relevant information，At the same time, strengthen public opinion monitoring、Response and disposal。

Fifteen、Insurance institutions carry out Internet property insurance business，Violation of the relevant provisions of this notice，The State Administration of Financial Supervision and its dispatched offices may make rectification requests in accordance with laws and regulations，Adopt relevant regulatory measures or impose administrative penalties。

Granting a transition period to property insurance companies that have already launched Internet property insurance business。Property insurance companies should promote rectification on the basis of effectively protecting the legitimate rights and interests of financial consumers，Fully comply with all requirements of this notice before December 31, 2024。

Sixteen、Previous regulations on Internet property insurance business are inconsistent with this notice，Subject to this notice。

State Financial Supervision and Administration Administration

July 17, 2024

Source: Website of the State Administration of Financial Supervision