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CIRC considers reform on insurance marketing pattern

By Li Huayu (chinadaily.com.cn)
Updated: 2009-06-19 19:20

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In order to change the labor-intensive insurance marketing pattern, the China Insurance Regulatory Commission (CIRC) is brewing a plan to reform the country's insurance marketing mechanism over the next five years.

The reform will be piloted in selected regions and then gradually spread nationwide, according to the draft for soliciting opinions on the reform. The CIRC also encourages insurance companies to try out the reform on their own.

Supervisory authorities may apply the personal insurance agent system in pilot regions, and insurance companies can set up dedicated agent partnerships in the form of establishment, restructuring, cooperation and so on, according to the draft.

The CIRC will organize related units, organs and insurance company headquarters to set up a leading group and a working group to ...

The full text is available in the June Issue of China Insurance. Please visit E-Shop for more subscription details.