Car loan guarantee insurance

In the car loan guarantee insurance "shock" nearly a year later, in April of this year, 6 new products a car loan guarantee insurance, Pacific Insurance, insurance Cheonan and Yongan four companies approved. However, since the new car loan insurance available for more than two months, not only buyers only, colleague also was not interested in following.
　　
High compensation "push back" car loan performance risk
　　
In recent years the rapid development of the domestic automobile consumption credit market and the continued warming, thanks largely to the insurance company launched the "auto loan guarantee insurance", namely the car loan performance risk. The insurance company according to the contract, when the purchase a car people not according to the agreed schedule to repay the loan, the insurance company to replace the purchase a car purchase a car people to repay loans and other agreed payments, insurance company to fulfill payment obligations have recourse to purchase a car people. The categories of the bank operational risk has completely passed on, not only greatly promoted the bank automobile consumption credit business, but also to stimulate the automobile consumption needs of the public, eventually led to the automobile consumption credit business has been developing rapidly.
　　
However, compared with the original almost completely the responsibility of car loan guarantee insurance, car loan guarantee insurance in insurance liabilities made great adjustment: first, purchase a car must provide collateral to the bank when effective, purchase a car can not repay, compensation insurer only purchase a car loans and bank collateral proceeds balance part; secondly, set up risk control requirements, such as purchase a car to provide not less than 30% of the first payment, the insured must be the final use, loan vehicles will car loan insurance defined within 3 years; thirdly, according to the different risk levels set in different rates, embody the requirements of the individual risk and difference, many in the industry to approve of it.
　　
Seek truth from facts to say, the insurance company launched the car loan performance risk in the absence of historical data and underwriting experience, except with the national development of the automobile industry policy factors, stimulating domestic demand, mainly because they have good prospects of gain: one is to add new categories, expand the scope of business; the two is to increase the premium income, because the insurance companies in a car loan contract insurance contract and purchase a car people, mostly agreed to purchase a car must buy the vehicle damage insurance, third party liability insurance and other insurance. However, the insurance company will assume great risk in profits at the same time, some insurance companies have been or are suffering huge losses brought about by the insurance underwriting.
　　
Since the beginning of 2002, for enhancing the efficiency and stable operation and other considerations, most insurance companies have contracted the car loan contract insurance business scale, exit the car loan contract insurance market. Exit the reason is very simple: highlights the risks. Car loan guarantee insurance loss rate is high, make the insurance company to pour out one's endless grievances. Data show that, the car loan performance risk in the domestic launch since two or three years has turned up. But compared with the real estate mortgage loans, automobile consumption credit bank bad assets rate was high, the insurance company car loan contract insurance payment rate is very high, some companies even reached more than 300%. At present in the domestic insurance market, only the individual insurance company as the rapid growth of the scale of business, in Zhejiang, Shanghai credit environment relative good area to carry out the business. The statistical data of Guangzhou Insurance Association in the first quarter of 2003, the province of the property insurance company car loan insurance average loss rate is as high as 135.57%.
　　
　　All the customers make car loan "signs of danger appearing everywhere"
　　
At present, China's overall social credit level is not high, the personal credit degree is poor and not neat, and there is no special institutions for personal credit records, collect and provide search service, therefore, credit risk is the risk of car loan performance risk. From the loan purchase a car people, even people in the purchase a car purchase a car when fashion has good repayment ability, also be changes do not occur in the life, such as a person or family medical emergency, commercial failure etc.. In addition, standard car collision accident suffered losses will increase the purchase a car the repayment pressure.
　　
Most car manufacturers pay attention to its sales in the process of operation, little consideration of how to reduce the consumption market risk; a few car maker even with poor credit, does not have the ability to perform in collusion to help people purchase a car, purchase a car for bank loans; a few more car dealers to set up holding bank fraud purposes, is pure by selling the car for a fraud. In 2002 November in Shenzhen with the use of false information for personal auto loan case, involving up to 1100 yuan.
　　
Some banks in the issuance of automobile consumption loans, arbitrarily reduce lending threshold, lax to the lender qualification review. In order to obtain loans, purchase a car in the car dealer "advice", fill in the personal income is the existence of "water". But the bank in order to increase the car loan business, have open eyes closed eyes, for the future owing on the loan purchase a car "buried" insurance".
　　
A considerable part of automobile manufacturers always breaks the routine in the new car launch, the price will be very high, as long as the customer is not responding or warm as expected, immediately cut prices to promote sales, this case in the first half of 2003 almost every month, even the loan purchase a car in the end initial payment with the car drop several million, to buy cheaper than reduction to loans, which to some extent to stimulate the purchase a car people refused to loan.
　　
Insurance companies provide insurance at the same time to purchase a car people, generally require the standard car mortgage insurance companies or banks as a counter guarantee, hoping to reduce the risk of. While the real people in the purchase a car loan to buy a car than after stage to perform the obligation of repayment, even with people and cars in the disappearance of a be too numerous to enumerate, insurance companies even risk paid to put the car back, it is difficult to ensure the car intact and can sell a good price, which have a direct impact on the effectiveness of anti guarantee. In addition, the price depreciation will make the risk prevention function to sell at a discount greatly counter guarantee.
　　
Many insurance company car loan guarantee insurance and insurance are "packaged" form sales, some sales personnel in order to pull the car insurance premium, vigorously by car loan guarantee insurance. Instant success leads to failure of internal control audit policy, the insurance company in lax, to undertake a large number of high risk policy; arbitrarily raise fees, engaging in vicious competition increase operating costs; the salesman pre credit investigation is not in place, resulting in information distortion; professional risk control Gang medium-term performance monitoring measures ineffective, resulting in overdue rate rises late; such work is weak, so that the losses are difficult to recover.
　　
The car belongs to a devalued real estate, when the owners default payments, may people and cars all no, probably because the car's property, operating permit procedures are not complete and not the car sale, together with the recent car prices fell faster, the car itself there are depreciation, auction models are not loans.
　　
No car loan insurance has a loan to buy a car?
　　
In 2003 November, car loan guarantee insurance is still at the "lean season," the domestic car sales reached 405800 vehicles, an increase of 37.44%, is the highest annual auto sales month. In fact, no car loan guarantee insurance, auto dealers and lenders will still come up with many new ways.
　　
Not long ago, the first appeared in Chengdu by dealers from Guarantee Corporation -- Chengdu Xinghe investment Company limited by guarantee. Consumers in the choice of the Audi, waiting for the bus, as long as the one-time offer related information, applications for guarantee, loan applications work completely by the company management.
　　
In May, China Merchants Bank and BMW Group signed a contract, bidding behavior of several brands of cars BMW customers and agents to provide credit financing. As long as the customer talks with BMW authorized dealers, can obtain matching, etc. The or early termination and other loans, materials complete 24 hour loan.
　　
In addition, in 2003 the "management methods of auto finance company" after promulgating, a number of international automobile financial service companies such as Ford, mass, Toyota are actively apply to relevant personage predicts, this year will fall "rickshaw business loan". Although these companies are usually only for oneself blood brand of car loans, but because of their cars are expensive in high-grade car, the business loan demand, is also quite considerable.
　　
In more than half a year, a variety of security methods such as against the real car loans, the third party (natural person) guaranteed loans, secured loans, housing loans portfolio dealers are also developed.
　　
In short, car loan guarantee insurance is not the only "keys" emerge in an endless stream, in the way of security credit products, financial today, people can realize the loan to buy a car through a variety of channels of desire. The car loan insurance market average new, I'm afraid this is one of the reasons.
　　
The car loan performance risk on guard against
　　
With the rapid development of China's economy, the improvement of people's living standards and consumption concept of constantly updated, car loan contract insurance business market potential is enormous, some insurance companies out of the car loan contract insurance market is only temporary, and exit is not consistent with national industrial policy, to take measures to guard against the risk of positive it is the most urgent.
　　
To cultivate a good social credit environment. From the overall perspective, the insurance companies out of car loan guarantee insurance market, is the credit social consumption environment not mature and personal credit is not perfect due. So at present the most important is to accelerate the accumulation of personal credit information, establish social personal credit records, evaluation system and to the public. In the whole society to personal credit evaluation system is still unable to establish the circumstances, bank, securities, insurance and other industries strong financial sector can be combined, to the province, city for units to set up a "personal credit information sharing platform", achieve personal credit to share and to promote a good atmosphere for everyone credit from the front in the local area.
　　
Banks, car dealers should share the risk. The risk should be said that the car loan performance risks exposed by the common risk banks, car dealers and insurance companies, between the three parties to realize mutual benefit, must actively assume risk responsibility. But the reality of insurance industry in the fierce competition between the insurance companies have to bear alone the passive position, business risk, while banks and car dealer risk was completely lack of responsibility, banks and even achieve zero risk. In fact, the risk prevention and remedy measures, banks, car dealers, insurance companies have common interests, the three party must take the initiative to assume responsibility, jointly study and discuss the solution: such as the realization of customer information resource sharing, joint strict customer credit investigation approval, to improve the car loan threshold, to assume responsibility for security, common to raise the proportion of first payment etc.. The best combination of points only partner actively looking for interest and responsibility, can work together to do this business.
　　
The insurance company preparatory and follow-up management can not be missing. First of all, the insurance companies to do the car loan contract insurance product research and development work. For a variety of international automobile consumption financial services risk disposal ways, such as accounts receivable securitization, professional Guarantee Corporation, but the liability insurance is still the main risk solutions, and in a healthy development track, it is proved that the car loan performance risk is benefit to the private business. But the domestic insurance companies, in the absence of historical data and underwriting experience under the premise, with reference to traditional insurance business hastily launched the car loan performance risk, can not be denied insurance company in product design and the lack of Prudential, actuaries to review omit the necessary procedures. Development to ignore the risk is caused one of the causes of the car loan performance risk concentrated outbreak. It should be said that the car loan performance risk is credit risk rather than the traditional insurance business, insurance companies involved in this field must be prepared, to set up the team, accounting, data analysis system. Secondly, the introduction of products, insurance companies and risk control, if not as a result of market competition and broaden access threshold, adhere to vehicle manufacturers choose a larger scale, operating in good condition, the higher credit rating; ask the customer to "non car" the subject matter as a counter guarantee; branches to strictly implement the headquarters report to the terms of the no, illegal operation, illegal pay the agency fee to get scale; successful experience of bank credit investigation, good customer credit audit checks work; set up institutions arrange to do overdue loans. Work; make full use of judicial relief and so on.
　　
The insurance companies should layers of clear responsibility. In car loan contract insurance business, insurance companies must be responsible for implementation of risk management to sales, credit investigator, underwriting and collection of gang members who, to be overdue rate, loss ratio and performance of their wages, only touch their own interests, can really push they implement the responsibility. Otherwise, the salesman will still be in the pursuit of high returns regardless of the interests of the company; credit investigation Gang, underwriting gang and collection staff post is more because of interest not linked to risk it.