The latest report from the China Banking and Insurance Regulatory Commission shows that in the third quarter of 2021, insurance consumption complaints increased by 18.35% year-on-year, and many insurance companies were named.
On December 1, the Consumer Protection Bureau of the China Banking Regulatory Commission issued Circular No. 17 of 2021 “Notice on Complaints about Insurance Consumption in the Third Quarter of 2021”. The notification showed that 16,669 property insurance companies were involved in insurance consumption complaints. A year-on-year increase of 5.57%, accounting for 41.01% of the total number of complaints; 23,980 life insurance companies, an increase of 29.23% year-on-year, accounting for 58.99% of the total number of complaints.
Among them, PICC Property & Casualty Insurance ranked first in terms of complaints against property insurance companies; Ping An Life ranked first in terms of complaints against life insurance companies; Sunshine Credit Insurance and Anxin Property & Casualty Insurance ranked the top two property insurance companies in terms of complaints against 100 million yuan in premiums; Sunshine Credit Insurance and Jiulong Property & Casualty Insurance ranked the top two property insurance companies in terms of complaints about 10,000 insurance policies; Huahui Life ranked first in life insurance companies in terms of complaints about 100 million yuan in premiums and 10,000 person-time complaints; Xinmei Mutual Life and Huahui The number of complaints about 10,000 insurance policies of Life is among the top two life insurance companies.
Complaints report problems concentrated in claims disputes and sales disputes. Property insurance companies involved 12,131 complaints about claims disputes, accounting for 72.78% of the total number of complaints from property insurance companies; 1,825 complaints about sales disputes, accounting for 10.95%. Among them, PICC Property & Casualty Insurance ranked first in terms of the number of claims dispute complaints by property insurance companies. PICC Property & Casualty Insurance and Ping An Property & Casualty Insurance ranked the top two property insurance companies in terms of sales dispute complaints. There were 2,685 complaints about claims disputes from life insurance companies, accounting for 11.20% of the total number of complaints from life insurance companies; 10,845 complaints about sales disputes, accounting for 45.23%. China Life, People’s Health, and Pacific Life are among the top three life insurance companies in terms of the number of claims disputes. Ping An Life ranked first in the number of life insurance companies in terms of complaints about sales disputes.
The report shows that the insurance types with the most complaints among property insurance companies and life insurance companies are motor vehicle insurance and general life insurance respectively. Property insurance companies involved 10,513 complaints about motor vehicle insurance disputes, accounting for 63.07% of the total number of complaints from property insurance companies; 1746 complaints about guarantee insurance disputes, accounting for 10.47%. Among them, PICC Property & Casualty Insurance ranked first in terms of complaints about motor vehicle insurance disputes. PICC Property & Casualty Insurance and Ping An Property & Casualty Insurance ranked the top two property insurance companies in terms of the number of complaints about guarantee insurance disputes.
Life insurance companies involved 9337 complaints about ordinary life insurance disputes, accounting for 38.94% of the total number of complaints from life insurance companies; 5323 complaints about illness insurance disputes, accounting for 22.20%. Ping An Life ranks first among life insurance companies in terms of the number of ordinary life insurance dispute complaints. Pacific Life, Xinhua Life, and Taikang Life ranked the top three life insurance companies in terms of the number of complaints about illness insurance disputes. Return to Sohu to see more
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