Ping An Life Chongqing Branch's latest response to the report: Coercion of untruthful self-purchased policies will strengthen the management of captive insurance parts

Financial Associated Press (Shanghai, intern reporter Li Zilin) news, recently, Ping An Life's former agent Xu Yingqiong's complaint incident caused public concern. Is coercion of self-purchase policies true? What are the results of Ping An Life's survey? How can insurance companies strengthen the management of captive parts? To this end, the reporter of the Financial Associated Press contacted Zhang Zhipeng, general manager of Ping An Life Chongqing Branch, for the first time to obtain the latest progress of the incident.

What about the event? How was the whistleblower Zhang Yangyang handled?

It is understood that long before the fermentation of the whistleblowing incident, Xu Yingqiong, the former agent of Ping An Life, had made a real-name report to the Chongqing Municipal Banking and Insurance Regulatory Bureau. On the whole, Xu Yingqiong's report has three points: one is that Zhang Yangyang, the former deputy general manager of Ping An Life Chongqing Branch, forced him to buy an insurance policy, second, Zhang Yangyang repeatedly harassed him in the name of tracking performance, and third, Zhang Yangyang had operational and management problems such as charging field fees. There are two main demands, one is to refund the premium in full, and the other is to dismiss Zhang Yangyang.

According to Zhang Zhipeng, general manager of Ping An Life Chongqing Branch, after receiving the report, Ping An Life immediately suspended Zhang Yangyang and cooperated with the investigation. On August 3, 2021, ping an life investigation team took the initiative to contact Xu Yingqiong to inform him of the results of the investigation. However, Xu Yingqiong did not approve of the investigation results, believing that it did not meet her demands of "expelling the parties" and continued to speak out online.

Regarding Zhang Yangyang's current situation, Zhang Zhipeng said that Zhang Yangyang himself denied Xu Yingqiong's relevant allegations. On May 28, Zhang Yangyang reported to the public security organs about the "defamation of Xu Yingqiong", which was accepted by the public security organs on the same day; on June 9, Zhang Yangyang filed a criminal private prosecution with the court, and the court is currently filing a case for investigation. On August 4, the court notified Xu Yingqiong to go to the court to collect a copy of the private complaint and other documents.

In response to Xu Yingqiong's report, what work has Ping An Life done?

Zhang Zhipeng told the Financial Associated Press that Ping An Life Chongqing Branch attaches great importance to the content of the report and set up a special working group at the first time. On May 25, Ping An Life Also Appointed a Special Working Group to Chongqing to Carry Out Investigation and Verification. The investigation team conducted a detailed investigation through interviews with relevant insiders, access to relevant materials, questionnaire surveys, fact confirmation letters, etc., during which Xu Yingqiong was interviewed 16 times, including 4 face-to-face exchanges of views and 12 telephone communications. During the investigation, the investigation team actively communicated with Xu Yingqiong, listened to the demands, and made detailed records.

What are the current verification results for this incident?

When asked about the latest development of the incident by the Reporter of the Financial Associated Press, Zhang Zhipeng said that according to the current investigation results, Xu Yingqiong's self-purchase of insurance policies in Chongqing Branch is true, and there are cases of commissions, incentive fees and promotions for the purchase of self-insured parts, and the "Zhang Yangyang coerces and induces him to purchase his own insurance policy by various means" and "Zhang Yangyang sexually harasses him in the workplace" have no clear evidence to confirm; "Zhang Yangyang illegally collects field fees" is true. In view of the verification problem, according to ping An Life's party discipline and government discipline linkage punishment method, the company will impose corresponding administrative and party discipline penalties on Zhang Yangyang.

At the same time, in response to the management problems found in this survey, Zhang Zhipeng said that Ping An Life Chongqing Branch will thoroughly implement the governance and rectification requirements of the regulatory authorities, strictly implement the development concept of the head office, strengthen the control of self-insured parts, start from the root causes of the problem, comprehensively sort out the management mechanism and system process, and promote the healthy and sustainable development of the company.

Subsequently, Ping An Life Chongqing Branch will strictly abide by the relevant procedures and properly handle the reporting dispute under the guidance of the regulatory authorities and the head office. Zhang Zhipeng said that Ping An Life has a strict management system and regulations in insurance operation, business marketing, agent management, and customer rights and interests protection, and in the future, it will always adhere to law-abiding operation and compliant operation in the first place to ensure that the rights and interests of agents are fully protected.

In view of the hidden dangers of captive insurance, how will Ping An Life strengthen its management?

According to the comprehensive market understanding of the reporter of the Financial Associated Press, the agent's purchase of life insurance products as a customer is a normal insurance consumption behavior, and it is also its legitimate rights and interests as a consumer. Zhang Zhipeng said that Ping An Life attaches great importance to the management of captive insurance pieces to ensure that the willingness to apply for insurance is true and to standardize the behavior of self-insured pieces. Previously, Ping An Life has successively issued the Work Notice on Strengthening the Quality Control of Agent Captive Parts Sales and the Measures for the Administration of Captive Insurance Parts for Individual Life Insurance Business Personnel to continuously strengthen the control of captive parts sales.

According to Zhang Zhipeng, Ping An Life Chongqing Branch has required all captive insurance pieces to implement "double recording", that is, audio and video recordings, when applying for insurance; to make it clear that captive insurance pieces do not enjoy any incentive plan, and captive insurance pieces are not included in the assessment; strengthen the control of captive insurance parts in the new contract, and deal with the hesitation period surrender for the purpose of inflating performance in accordance with relevant regulations.

Recently, the regulator has also issued a number of documents to regulate and guide captive insurance pieces, providing clear guidance for insurance companies. Zhang Zhipeng said that Ping An Life Chongqing Branch will carefully study and study, and will actively implement regulatory requirements, strengthen the management of self-insured parts, and continuously improve business quality.

In addition, Zhang Zhipeng stressed that at present, Ping An Life Chongqing Branch is actively promoting the transformation of agents to high-quality development, landing the "three good and five-star" evaluation system, focusing on "good behavior, good quality, good performance" and other aspects, continuously reviewing the operation evaluation standards for four major modules such as manpower, production capacity, performance and daily operation, and guiding the team to take the road of sustainable and quality development.