First, why is this happening?
Some economic researchers directly said in an interview that this kind of chaos was mainly due to the influence of the COVID-19 epidemic, which caused most life insurance companies to be unable to conduct business during the epidemic, so after the epidemic ended, they quickly launched a new marketing promotion model. In order to make up for last year's performance target, after the new year began, they constantly promoted their new products through various means, and even many insurance companies regarded their personal insurance as financial products.
Second, the change of insurance coverage.
In fact, if you are familiar with insurance, you will find that this year, we have carried out corresponding reforms on critical illness insurance. At first, the critical illness insurance even stopped. Therefore, under such circumstances, the insurance market at that time was very bleak, and the ability of individual agency was basically greatly weakened, just because everyone bought the insurance for the most serious illness.
Third, how to treat such rectification activities?
At the same time, China Banking and Insurance Regulatory Commission also pointed out that during the rectification process, they found that some small and medium-sized companies did have very serious false propaganda and exaggerated product functions, but for most companies, they still made product promotion in strict accordance with the company's standards. Moreover, it can be seen from this competitive model that the dividend in the insurance era is gradually disappearing, and the future insurance will pay more attention to service and science.