“The preparation situation of the asset management company, according to the internal timetable, we plan to complete all preparations at the end of May and early June, and then submit the application for opening acceptance to the China Insurance Regulatory Commission. After acceptance, it can be opened this year. “Lai Jun, general manager of China Merchants Cigna, discussed the preparations of its asset management subsidiary at a recent online media communication meeting.
In January 2020, the China Insurance Regulatory Commission website issued a reply on the preparation for the establishment of China Merchants Xinnuo Asset Management Co., Ltd., agreeing to China Merchants Xinnuo Life and China Merchants Financial Holdings (Shenzhen) Co., Ltd., China Merchants International Financial Holdings (Shenzhen) Co., Ltd. and China Merchants International Capital Management (Shenzhen) Co., Ltd. are planning to establish China Merchants Cinna Asset Management Co., Ltd. with a registered capital of RMB 100 million and a place of registration in Beijing. Lai Jun.
Lai Jun pointed out that there may be a delay due to the impact of the epidemic, but it should be able to open this year.
As a bank-based life insurance company, China Merchants Cigna has special sales channels. Unlike ordinary life insurance companies which are mainly agents, China Merchants Cigna does not have an agent channel, and its three sales channels are online store marketing, bancassurance channel and broker-agent channel. At present, China Merchants has more than 8,000 employees, including about 5,000 telemarketing employees.
According to Lai Jun, on the bancassurance channel, China Merchants Cigna focuses on making some long-term guaranteed payment products, which account for an absolute proportion . The broker agent channel is mainly used for high-end medical group insurance. In this business, China Merchants’s market share is the first.
However, since the outbreak of the New Coronary Pneumonia, even though there is no agent channel, China Merchants Cigna has been greatly affected. Lai Jun explained that the telemarketing is actually people sitting in the call center to make calls, but during the epidemic, people are not allowed to gather. Among China Merchants ‘more than 5,000 telemarketers, 1,600 are in Wuhan, which also makes China Merchants’ commitment to work relatively late.
“Although there are technologies that can make online calls remotely, they are not fully rolled out for reasons such as the management of sales quality.” Lai Jun said bank outlets ‘S business is also greatly affected, which directly affects the business of bancassurance channels. In addition, due to the impact of the epidemic, many companies hold a wait-and-see attitude towards high-end medical insurance. There are still concerns about whether they will continue to invest a lot of money to purchase high-end medical insurance.
But in terms of performance,According to Lai Jun, from January to April this year, China Merchants has achieved good results in terms of scale and efficiency. From January to April this year, China Merchants Cigna ’s insurance business revenue increased by 15% year-on-year, with a net profit of 380 million yuan.
“Why our results from January to April are quite good, actually catching up in April. April is almost completely resumed, through the bancassurance channel Has done some work closely, as well as previous online consumer education and other activities. Of course, there is also a part of the credit for renewal of insurance. “Lai Jun said.
It can be seen that during the epidemic, various insurance institutions have launched online operations. Lai Jun admitted that due to the inability to communicate face-to-face, China Merchants also put insurance sales mainly online during the epidemic, but this will still have an impact. The epidemic has indeed promoted online services, and some people did not accept online services before, and they can now accept this model.
For the relationship between online and offline sales, in Lai Jun ’s view, this should be a process of mutual promotion. Insurance institutions certainly want to be able to do more things online, and some things will actually be simpler online. But for consumers, when he is making a major decision, such as intending to continue to pay a high premium in the next 10 or 20 years to provide himself with a more adequate protection, he still hopes to sit down and talk A chat, at least in the past, was done this way.
But he also believes that pure online will still take some time, because many insurance products are relatively complicated, if no one answers directly It is very difficult. Of course, this solution can also be done online, but this is a gradual process.
In May of this year, after the Banking and Insurance Regulatory Commission deployed and carried out a half-year review of sales practitioners ’practice registration data, 51 insurance companies were notified by name and investment promotion. Also among them. Lai Jun explained that China Merchants Cigna actually does not have an insurance agent, but when a telemarketing colleague filled out the data, he mistakenly chose an agent, a total of 137 people. China Merchants promised to revise the relevant data immediately after discovering it, and then review the data to try to improve the data information.