Heads of relevant departments of the China Banking and Insurance Regulatory Commission answered reporters' questions on the release of the "Opinions on Actively Carrying out Risk Reduction Services in the Property Insurance Industry"

Recently, the China Banking and Insurance Regulatory Commission issued the "Opinions on Actively Carrying out Risk Reduction Services in the Property and Casualty Insurance Industry" (hereinafter referred to as the "Opinions"), and relevant department heads answered questions from reporters regarding the "Opinions".

Q: What is the background of the introduction of the Opinion?

Answer: Risk reduction services are one of the effective means for the property insurance industry to serve the development of the real economy, and have a positive effect on improving social risk resistance and reducing social risk costs. With the continuous improvement of China's economic and social development level and the material living standards of the people, the demand for insurance institutions' risk protection and risk management from the public, especially high-risk industries in the field of safety production, is increasing. In recent years, property insurance companies have responded to the economic and social development situation, actively docking with the demand for real economy insurance, and actively carrying out risk reduction services such as disaster prevention and loss reduction. In order to highlight the risk management characteristics of insurance, meet the public's demand for risk reduction services, assist insurance companies in risk reduction work, promote high-quality development of the property insurance industry, and help maintain national security and social stability, the China Banking and Insurance Regulatory Commission has studied and issued the "Opinions".

Q: What are the goals and positioning of risk reduction services in the property insurance industry?

Answer: The property insurance industry should take serving the people, the real economy, and social stability as the starting point and foothold for carrying out risk reduction services. With the aim of reducing risk hazards and major risk damages, it should actively assist insurance companies in carrying out risk reduction work.

Q: What are the requirements for property insurance companies to provide risk reduction services in the Opinion?

Answer: The Opinion requires companies to expand their service content and actively assist insurance companies in risk assessment and other risk reduction work; We need to expand our service scope and actively provide risk reduction services in various property insurance businesses such as liability insurance, car insurance, and agricultural insurance. Encourage companies to enrich the forms of risk reduction service provision and improve the accessibility and convenience of services; Establish a service team or entrust a professional third-party organization to do deep, practical, and detailed service content; Extending to the upstream and downstream industries of insurance companies, providing one-stop service solutions for customers.

The Opinion proposes that each company should study and develop an overall plan for risk reduction services based on its own conditions, and gradually explore and promote it. Encourage companies to strengthen internal control management, talent development, and information technology construction, innovate technology applications, promote basic research, and continuously consolidate the foundation of risk reduction services.

The Opinion emphasizes that companies should carry out risk reduction services in accordance with the law, negotiate with insurance companies, strictly follow accounting standards for accounting treatment, and protect consumer rights and interests. There should be no false advertising, illegal commitments, forced bundling sales, using risk reduction services to extract fees, illegal buying and selling, information leakage, and other illegal activities.

Q: In recent years, what risk reduction services have the property insurance industry provided?

Answer: In recent years, the property insurance industry has actively carried out risk reduction services such as disaster prevention and loss reduction. The current forms of risk reduction services are diverse, including risk assessment, survey, early warning, rescue, training, etc; Diversified means, in addition to regular on-site personnel services, high-tech means such as big data, artificial intelligence, the Internet of Things, satellites, and infrared detection are also introduced; There are many types of insurance coverage, including car insurance, agricultural insurance, liability insurance, corporate property insurance, home property insurance, engineering insurance, and other insurance types.