Expert support to solve the problem of protecting the rights and interests of insurance consumers

Our reporter Yang Yiming

Rural Financial Times

Recently, Beijing Liyan Financial and Development Research Institute, Beijing Science and Technology Finance Promotion Association, and Jinxin Online Banking Regulatory Technology Research Institute jointly held the fourth lecture series on "Protection of Financial Consumer Rights and Interests". Gan Yutao, Executive Director of Beijing Think Financial Development Research Institute, shared content on consumer protection in insurance finance.

For a long time, the protection of consumer rights and interests in the insurance industry has been a hot issue that requires our continuous efforts to improve. "Gan Yutao said that the Chinese insurance market is developing rapidly, and facing such a huge market, if consumer rights and interests protection is not done well, it will inevitably trigger a series of problems.

Gan Yutao analyzed the current situation of consumer protection in the insurance industry from the underwriting end, product end, claims end, and service end of the entire insurance business process, and focused on the claims end, discussing the standard of measuring "good claims" through several quantitative indicators.

Gan Yutao stated that firstly, the "one-time submission success rate" of claim materials measures the convenience of claim applications. Secondly, the completeness of claim materials to the deadline for case closure is related to the transparency of the deadline for claim review. The third is the rate of platform claims disputes, which is related to whether the policyholder's claims are fully implemented. The fourth is satisfaction with closing the case, ensuring continuous optimization of products and services.

In this process, the digitization of insurance technology plays a significant role. Insurance technology digitization also has many application scenarios on the operational server, such as using digital technologies such as artificial intelligence to portrait customers, digitizing and intelligently providing interactive insurance services, intelligent innovation of claims service processes, and risk identification and fraud prevention through digital capabilities. These rich application scenarios continuously upgrade the customer experience Gan Yutao said.

In fact, the protection of insurance consumer rights still faces numerous challenges at present.

Gan Yutao mentioned that insurance consumers face information asymmetry. Due to the complexity of insurance products, consumers often find it difficult to obtain comprehensive and transparent information related to insurance products. Insurance companies or intermediaries may also selectively provide information during the sales process, leading to a lack of sufficient understanding among consumers when deciding to purchase. At the same time, insurance contracts are filled with professional terminology and complex clauses, making it difficult for ordinary consumers to fully understand their meaning and impact, which may lead to consumers being at a disadvantage in disputes. In addition, misleading sales and obstacles to claims are also issues that cannot be ignored.

How to solve the consumer protection problem in the insurance industry? In Gan Yutao's view, to solve the problem of information asymmetry, the first step is to establish an information disclosure mechanism to ensure that consumers obtain comprehensive and truthful information when purchasing products. It is necessary to provide consumers with a way to supervise and evaluate the integrity and service quality of insurance companies. Secondly, it is necessary to strengthen consumers' awareness and ability to protect themselves. Consumers need to improve their insurance literacy and screen insurance products and services that are better suited to their needs and of higher quality with a more professional ability. In addition, it is necessary to enhance awareness of rights protection, pay attention to the protection of one's own rights, and solve problems through reasonable channels.

Regarding the issue of complex clauses, Gan Yutao stated that insurance companies should strive to simplify contract terms and avoid using overly complex or difficult to understand professional terminology. Each clause in the contract should be described in simple and clear language to ensure that consumers can easily understand its meaning. Considering that there may still be some unavoidable professional terms in insurance contracts, insurance companies should provide contract interpretation services, which can be achieved through artificial intelligence customer service or specialized interpretation manuals.

In terms of misleading sales, Gan Yutao suggests strengthening industry regulation and establishing a consumer feedback mechanism; In response to obstacles in claims, the claims process should be optimized, and a third-party mediation mechanism should be established to better solve cases with large claims.British Prime Minister Sunac to increase spending on artificial intelligence chips to £ 400 million

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