Recently, the China Insurance Industry Association announced that in order to better safeguard the legitimate rights and interests of electric motorcycle insurance consumers, enhance insurance protection capabilities, and improve the service level of electric motorcycles, under the guidance of the China Banking and Insurance Regulatory Commission’s Industry and Insurance Supervision Department, the insurance industry The association carried out in-depth research, solicited opinions extensively, carried out serious calculations, and completed the “Electric Motorcycle Underwriting Practice (Trial)”. The underwriting practice was officially released today.
The first is to further clarify the types of electric motorcycles that consumers can currently insure. According to the “Technical Conditions for Motor Vehicle Operation Safety (National Standard of the People’s Republic of China GB7258-2017)”, “General Technical Conditions for Electric Motorcycles and Electric Mopeds (GB/T24158-2018)” and other regulations:
In the underwriting practice, it is clarified that an electric motorcycle refers to a two-wheel or three-wheel vehicle driven by electricity in the territory of the People’s Republic of China (excluding Hong Kong, Macao and Taiwan); electric motorcycles include electric mopeds and electric motorcycles, not electric bicycles, clarifying the current coverage of electric motorcycles.
The second is to further unify the premium rate standards for consumers to pay premiums. The underwriting practice integrates the relevant technical specifications of the national electric motorcycle and the risk status of different types of electric motorcycles. At present, electric motorcycles are divided into three gears according to power and maximum design speed:
Power is not more than 4KW and the maximum design speed is not more than 50 km/h ; power is more than 4KW, less than 8KW (including 8KW) or the maximum design speed is greater than 50 km/h; Power above 8KW. The compulsory traffic insurance and commercial insurance execution rates for electric motorcycles are consistent with the corresponding displacement gears of fuel motorcycles.
The third is to further standardize the online service process for consumers. Underwriting practice encourages companies to speed up their online transformation, promotes insurers to standardize online insurance application channels such as mobile applications and WeChat official accounts, and provides full-process online insurance application services for insurers.
Enhance the availability and convenience of consumer insurance services, improve the service reach rate, and standardize the requirements for authentic, accurate, and safe entry of insurance information.
The fourth is to further sort out the key points of consumer insurance information. On the basis of traditional auto insurance underwriting practices, underwriting practices straighten out the key points of consumers’ insurance information.
Focusing on standardizing the description and notification of compulsory traffic insurance and commercial insurance, filling and entering insurance application forms, sorting out the key indicators of electric motorcycles, and requiring insurance companies to accurately and completely enter the information of insurance application forms in the system to unify the industry information collection standards to improve the efficiency of industry underwriting and issuing.
Post time: Jun-08-2022