What is an insurance brokerage company?
According to the specific needs of customers, insurance brokerage companies use their own professional advantages to provide customers with professional insurance plans and risk management programs. After signing the entrustment agreement with the customer, the insurance brokerage company will organize market inquiry or bidding, and select the insurance company with superior comprehensive underwriting conditions as the underwriting company. Safeguard the interests of customers in negotiations with insurance companies and strive for big discounts for customers. In addition, insurance brokers also assist customers in formulating comprehensive risk management plans other than insurance. Risk management is highly professional, and insurance brokerage companies are recognized as professional risk management consultants in domestic and foreign insurance markets.
Insurance broker is the objective requirement of the development of insurance market and the progress of insurance technology. In other countries, insurance brokers have been born for more than 400 years. In developed countries such as Britain and America, insurance brokers play an important role in the insurance market.
Conditions for establishing an insurance brokerage company
In China, the establishment of insurance brokerage companies will be strictly examined and approved by the CIRC. An insurance brokerage company that has been approved to start business shall register with the administrative department for industry and commerce after receiving the License for Operating Insurance Brokerage Business before it can start business, and make an announcement in the newspaper designated by the China Insurance Regulatory Commission. The failure of insurance brokerage companies involves the following aspects:
Conditions for establishing an insurance brokerage company:
1. Organization form. The organizational forms of insurance brokerage companies include Chinese insurance brokerage companies, foreign insurance brokerage companies and joint venture insurance brokerage companies.
To apply for the establishment of an insurance brokerage company, the following conditions shall be met:
* * *1* * The minimum paid-in monetary capital is RMB100000 yuan. According to the decision of the CIRC, the first paragraph of Article 7 of the Regulation on the Supervision of Professional Insurance Agencies is amended as: "The minimum registered capital for the establishment of professional insurance agencies is RMB 50 million, unless otherwise stipulated by the China CIRC." In addition, article 12 of the original provisions is deleted.
* * * 2 * * has articles of association that meet the legal requirements.
* * * 3 * * The company has no less than 30 employees, of which the number of employees holding qualification certificates is not less than 1/2 of the total number of employees.
* * * 4 * * There are senior managers who meet the qualification requirements of China Insurance Regulatory Commission.
***5*** It has a fixed business place that meets the requirements.
A foreign insurance brokerage company applying for the establishment of a foreign-funded insurance brokerage company shall meet the following conditions in addition to the above conditions:
*** 1*** has a good credit standing and has not been severely punished by the competent authorities and judicial departments of the host country in the last three years.
***2*** Engaged in insurance brokerage business for more than 20 years.
* * * 3 * * The business income for three consecutive years before the application is not less than 100 million US dollars.
***4*** has a representative office in China for more than two years.
The country where * * * 5 * * * is located has a perfect insurance supervision system.
***6*** The proposed senior management personnel meet the qualifications stipulated by the China Insurance Regulatory Commission.
* * * 7 * * Other conditions stipulated by China CIRC.
In addition to the above seven provisions, the Chinese party shall be an enterprise that meets the following conditions:
*** 1*** has a good credit status and has not been severely punished by state organs and judicial departments in the last three years.
***2*** made profits for three consecutive years before applying.
* * * 3 * * The capital at the end of the year before the application is not less than 50 million yuan.
* * * 4 * * Other conditions stipulated by China CIRC.
2. Requirements for shareholders and share capital. Shareholders of insurance brokerage companies shall abide by the relevant provisions on the management of insurance brokers, and party and government organs at all levels, the armed forces, social organizations, institutions allocated by the state and insurance companies shall not invest in insurance brokerage companies.
In Chinese insurance brokerage companies, a single legal person share cannot exceed 10% of the total capital, the sum of individual shares cannot exceed 30% of the total capital, and a single share cannot exceed 5% of the total capital.
3. qualifications. The brokers of an insurance brokerage company shall hold qualification certificates and practice certificates.
In addition to holding qualification certificates, senior managers of insurance brokerage companies should also have senior professional and technical titles in economics and finance.
* * *1* * College degree or above in economics and finance, with more than 5 years of insurance work, or more than 0/0 years of financial work, or more than 0/5 years of economic work.
* * * 2 * * Have a college degree or above other than economics and finance, have been engaged in insurance work for more than 8 years, or have been engaged in financial work 15 years or have been engaged in economic work for more than 20 years.
* * * 3 * * Master degree or above in economics and finance, engaged in insurance for more than 3 years, or engaged in finance for more than 8 years or engaged in economic work 12 years or more.
4. Set up the program. The establishment of an insurance brokerage company must go through two stages:
* * *1* * preparatory stage. To apply for the establishment of an insurance brokerage company, an application report, a feasibility report and an establishment plan, a list and resumes of the personnel to be established, a letter of intent for shareholders and other materials required by the China Insurance Regulatory Commission shall be submitted to the CIRC.
To apply for the establishment of a foreign-funded insurance brokerage company, the documents to be submitted to the China Insurance Regulatory Commission include: an application report signed by the legal representatives of the parties to the establishment; Feasibility report and preparation plan, a copy of the business license issued by the country where * * * is located, and relevant supporting documents of insurance brokerage business for more than 20 years; Annual report or assets and liabilities of the last three years and relevant supporting documents; Other documents required by China CIRC.
After the application for the establishment of an insurance brokerage company is approved by the China Insurance Regulatory Commission, it shall be established by the shareholders' promoters for a period of six months. During its establishment, an insurance brokerage company shall not engage in any insurance brokerage activities.
***2*** Opening stage. An insurance brokerage company shall submit the following documents when applying for starting business:
(1) Business application report.
② Articles of Association.
(3) the register of shareholders and their shares, credit certificates and other relevant materials.
(4) A copy of the capital verification certificate issued by a capital verification institution recognized by the China Insurance Regulatory Commission and the original voucher for entry.
(five) the qualification examination form and relevant qualification certificates of the proposed senior managers.
⑥ List of company personnel, copies of qualification certificates and other relevant documents.
⑦ Documents proving the ownership or right to use the company's business premises.
(eight) other materials required by the China Insurance Regulatory Commission. Within 6 months from the date of approval of the preparation, if the applicant fails to apply for business opening or fails to meet the business opening standards, the original approval document will automatically become invalid.
5. Pay the deposit. After being approved to start business, an insurance brokerage company shall deposit a deposit with the China Insurance Regulatory Commission at 15% of its capital.
6. Apply for an insurance brokerage license. An insurance brokerage company that has been approved to start business shall apply to the China Insurance Regulatory Commission for the License of Insurance Brokerage Institution before starting business, and handle the corresponding registration with the administrative department for industry and commerce.
An insurance brokerage company that is allowed to start business shall make an announcement in a designated newspaper. The insurance brokerage institution license is valid for 2 years.
What is an insurance agent?
Insurance agencies refer to limited liability companies and joint stock limited companies established in accordance with the Company Law, the Insurance Law and the Regulations on the Supervision of Insurance Professional Agencies. It belongs to a professional insurance agent. China's laws adopt the principle of examination and approval system for the establishment of insurance agencies, that is, the establishment of insurance agencies must be approved by the China Insurance Regulatory Commission, obtain a business license to operate insurance agency business, go through industrial and commercial registration procedures, and obtain a business license before they can engage in insurance agency business activities.
Conditions for establishing an insurance agency
Establishment of insurance agency for examination and approval
Application materials:
1. An application for establishing an insurance agency signed by all shareholders, promoters or partners;
2. Power of attorney for applying for the establishment of an insurance agency;
3. Articles of association or partnership agreement;
4. Copies of identity certificates and resumes of natural person shareholders, promoters or partners, copies of business licenses of non-natural person shareholders and promoters, and financial statements of the latest 1 year stamped with financial seals;
5. A copy of the capital verification certificate and the original capital verification certificate issued by a legally qualified capital verification institution;
6. Feasibility report, including market analysis and business development plan for the last three years. ;
7. Copy of the notice of pre-approval of enterprise name;
8. Internal management system, including organizational framework, decision-making procedures, business, financial and personnel systems, etc. ;
9. Anti-money laundering internal control scheme;
10, the business service standard of this institution;
1 1. The application materials for the post qualification of the proposed senior management personnel and a copy of the insurance agency qualification certificate of the business personnel;
12, letter of intent for agency issued by the insurance company;
13, certificate of residence or business premises;
14, computer software and hardware configuration.
* * * The above materials shall be submitted in duplicate * * *
Review principles and standards:
1. The registered capital or contribution of an insurance agency established in the form of a partnership or a limited liability company shall not be less than RMB 500,000; If it is established in the form of a joint stock limited company, its registered capital shall not be less than RMB1000000 yuan.
2. The articles of association or partnership agreement are in compliance with the law.
3. Senior management personnel meet the prescribed qualifications.
4. The number of employees holding the Qualification Certificate for Insurance Agency Practitioners shall be more than 2, and shall not be less than half of the total number of employees.
5. Have a sound organizational structure and management system.
6. Having a fixed residence or business premises suitable for the business scale.
7. Having computer hardware and software facilities suitable for business development.
8. Obtain an agency letter of intent issued by at least one insurance company.
9. The name of the insurance intermediary institution to be established shall include the words "insurance agent", and its name shall not be the same as that of the existing insurance intermediary institution.
Audit cycle:
China CIRC shall make a written decision on approval or disapproval within 20 working days from the date of accepting the application.
Precautions:
1. If the applicant for the insurance agent qualification examination provides false examination registration materials, his application for registration will not be accepted or announced.
The test results are invalid, and the applicants are not allowed to take the test within 1 year:
2, to participate in the insurance agent qualification examination personnel in any of the following circumstances, the test results are invalid, shall not take the exam within 3 years:
* * *1* * cheating in the exam;
***2*** disturbing the order of the examination room and violating the discipline of the examination room;
* * * 3 * * Other cheating behaviors.
3. If the holder loses the Qualification Certificate of Insurance Agency Practitioners, he shall apply to the original issuing authority for a replacement.
4. The Insurance Agent Qualification Certificate is valid for 3 years, counting from the date of issuance. The holder shall, within 30 days after the expiration of the validity period.
Apply for renewal of insurance in accordance with the relevant provisions of the China Insurance Regulatory Commission.
5, the local insurance regulatory bureau can organize the implementation of the examination according to the local actual situation.
The insurance agency license is valid for 2 years, and the insurance agency shall apply for renewal in accordance with the relevant provisions of the China Insurance Regulatory Commission 30 days before the expiration of the validity period.
Conditions of use
* * * a * * * insurance professional agency to operate insurance business license approval.
1. The shareholders and promoters have a good reputation and have no record of major violations in the last three years.
2. The registered capital has reached the minimum amount stipulated by the Company Law of People's Republic of China (PRC) and the relevant provisions of the China Insurance Regulatory Commission.
3. The Articles of Association are in compliance with relevant regulations.
4. The chairman, executive director and senior management personnel meet the prescribed qualifications.
5. Have a sound organizational structure and management system.
6. Having a fixed residence suitable for the business scale.
7. Having computer software and hardware facilities such as business and finance that are suitable for business development.
8. Other conditions stipulated by laws, administrative regulations and the China Insurance Regulatory Commission.
* * * II * * * Insurance Agency Group * * * Holding * * * Company was approved for establishment.
1. The shareholders, promoters or partners have a good reputation and have no record of major violations in the last three years.
2. The registered capital reaches the minimum limit as stipulated by laws, administrative regulations and relevant provisions of China Securities Regulatory Commission.
3. The articles of association or partnership agreement comply with relevant regulations.
4. The chairman, executive director and senior management personnel meet the prescribed qualifications.
5. Have a sound organizational structure and management system.
6. Having a fixed residence suitable for the business scale.
7. Having computer software and hardware facilities such as business and finance that are suitable for business development.
8. Having more than 5 subsidiaries, of which at least 2 are insurance professional intermediaries;
9. The income from insurance intermediary business accounts for more than 50% of the total business income of the Group;
10. Other conditions stipulated by laws, administrative regulations and China Insurance Regulatory Commission.
* * * Three * * * Qualification examination and approval of concurrent insurance agencies.
1. It has a business license issued by the administrative department for industry and commerce;
2. Having a certain scale of insurance agency business directly related to its main business;
3. Having a fixed business place;
4. It has convenient conditions for directly engaging in insurance agency business in its business premises.
* * * IV * * Examination and approval of the establishment of a foreign insurance agency.
Hong Kong insurance institutions are allowed to set up wholly-owned insurance institutions in the Mainland. Applicants must meet the following conditions:
1. Engaged in insurance agency business 10 years or more;
2. The average business income in the three years before the application is not less than HK$ 500,000;
3. The total assets at the end of last year shall not be less than HK$ 500,000.
Hong Kong insurance brokerage companies are allowed to set up wholly-owned insurance agencies in Guangdong Province * * * including Shenzhen * * *, and their business areas are not in Guangdong Province * * * including Shenzhen * * *. Applicants must meet the following conditions:
1. The applicant has been engaged in insurance brokerage business in Hong Kong for more than 10 years;
2. The average annual income of insurance brokerage business in the three years before the application is not less than HK$ 500,000, and the total assets at the end of last year are not less than HK$ 500,000;
3. No record of serious violation of the law and punishment in the three years before the application is filed;
4. It has been more than 1 year since the representative office was established in mainland China.
The difference between an insurance agent and an insurance broker
Although insurance brokers and insurance agents are both insurance intermediaries, there are fundamental differences between them:
There are four specific differences between them:
1, representing different interests.
Insurance brokers accept clients' entrustment and represent their interests;
Insurance agents represent the interests of insurance companies.
2. Provide different services.
Insurance brokers provide customers with full-process services such as risk management, insurance arrangement, assistance in claims settlement and recovery;
Insurance agents generally only sell insurance products on behalf of insurance companies, and the agents collect insurance premiums.
3. The service targets are different.
The main customers of insurance brokers are middle and high-end consumers, large and medium-sized enterprises and projects with relatively stable income;
The clients of insurance agents are mainly individuals.
4. Different legal responsibilities.
The relationship between customers and insurance brokers is entrusted and entrusted. If the insurance broker's fault causes losses to the customer, the insurance broker shall bear the corresponding economic compensation liability to the customer;
The insurance agent and the insurance company have a principal-agent relationship, and the insurance company is only responsible for the consequences of the insurance agent's actions within the scope of authorization. I guess you like it.