The Impact Of The Social Insurance Law On China'S Commercial Insurance Market

Expert interpretation

Jia Linqing

The social impact of the social insurance law, which is about to be implemented in July 1st, is self-evident.

Because this law not only provides a comprehensive legal basis for regulating China's social insurance activities, but also promotes the development of China's social insurance system, and will also have an inevitable impact on China's commercial insurance market.

Promoting our country

Although the social insurance law is applicable to the social insurance established by the Chinese government, it emphasizes the multi-channel collection of social insurance funds, and upholding the principle of wide coverage, basic protection, multi-level and sustainable development, which is used to protect citizens' right to get material assistance from the state and society according to law, such as age, disease, work-related injury, unemployment and childbearing.

However, the operation principle and guarantee function of insurance are very similar.

In view of this, many legal rules established in the social insurance law are roughly the same as the insurance law used to adjust commercial insurance activities. Thus, the useful experience gained in the implementation of the social insurance law can be used for reference in the application of the insurance law in China's commercial insurance market, which is conducive to improving the level and level of our insurance legislation.

Conducive to strengthening the public.

The social insurance activities adjusted by the social insurance law involve tens of thousands of families and tens of thousands of workers in urban and rural areas in China. Their degree of protection is related to the basic needs of families and workers. Moreover, it is adapted to the rapid development of social economy. Especially under the influence of compulsory social insurance policies, the scope of application of social insurance in China will also continue to expand.

Thus, through the application of the social insurance law, the general public is bound to be placed within the scope of social insurance, and for this purpose, we have to understand the social value of social insurance in stabilizing the living order by contacting and understanding the operational principles and basic knowledge of social insurance. This is undoubtedly the socialized popularization of insurance knowledge, of course, including the understanding of commercial insurance, the enhancement of public awareness of insurance, the enhancement of the willingness of people to insure commercial insurance, and the application of social insurance to ensure the protection of commercial insurance.

Summing up our country

Due to the restriction of China's economic development level and the influence of social traditions and cultural habits, the general public generally believes that seeking insurance coverage provided by insurance companies is not as good as relying on children's old age prevention or their own "pension funds". People generally lack the insurance awareness.

It can be seen that if China's commercial insurance market wants to be fully developed, it must change this situation, which requires many conditions.

Therefore, the implementation and publicity of the social insurance law is an important condition to create the social foundation for the development of China's insurance market, so as to raise the public's insurance awareness, eliminate people's prejudices against the insurance industry, and establish the correct social orientation for the development of China's insurance market.

Conducive to the establishment of complementary development relationship between social insurance and commercial insurance.

From the perspective of generality, social insurance and commercial insurance both constitute an integral part of China's social security system with their respective insurance functions. However, both of them are independent of each other's respective legal characteristics and different application scope.

Among them, the prominent feature of our social insurance lies in the insurance business set up by the government, which has a certain mandatory application effect. The purpose is to provide basic social security to the public and regulate it by the social insurance law.

Different from this, commercial insurance in China is an insurance business operated by various insurance companies as an insurance business entity. The purpose of the insurance business is to emphasize the voluntary will of the parties, the scope of insurance coverage and the coverage of insurance are more extensive, and the insurance law is used as the legal basis.

Of course, our social insurance and commercial insurance can not be isolated insurance fields. They have close relationship and complementary relationship with each other.

From the perspective of insurance operation technology, the types of social insurance are relatively simple, the structure and content of insurance relations are relatively simple, and the calculation of insurance amount and premium is not complicated.

In the scope of commercial insurance, insurance companies have more experience in insurance business, and the design and innovation ability of insurance categories is more prominent, especially the ability to use insurance funds to carry out insurance operations.

This means that social insurance and commercial insurance have their own advantages. Therefore, the relationship between harmonious operation and healthy development should be established.

Therefore, in the process of implementation of the social insurance law, we should establish mutual complementarity according to the experience and development needs of social insurance operation, that is, on the basis of effective application of social insurance, Business insurance company should be allowed to intervene in the field of social insurance, with the help of its rich experience in insurance operation and capital utilization, expand the scope of application of social insurance, enhance the efficiency of social insurance funds, and achieve the dual functions of developing the social insurance system and expanding the commercial insurance market.

It helps to improve the development of commercial insurance market.

The rapid development of commercial insurance market in China in recent years is obvious to all. However, its market size and guarantee effect are still not satisfactory. The implementation of the social insurance law is a great opportunity to further promote the development of China's commercial insurance market.

The reason is that the implementation of China's social insurance law is bound to promote the improvement and development of the social insurance system, making its scope of application and the depth of application great changes. This creates new space for the development of China's commercial insurance market, and Business insurance company can take important development and innovation channels.

As a result, the scope of the commercial insurance market has been expanded, and the emergence of innovative insurance products has provided the public with more diversified insurance services and insurance coverage.

The following several points to improve: 1. in the following several points way: 1. in the social insurance field that "social insurance law" of the way of social insurance approach, channel approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approaches approach approaches approaches approaches approaches approaches approaches approaches approaches approaches approach approaches approach approaches approach approach approach approach approach approach pathway approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach approach routes allows channels approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach approaches approach to improve the efficiency of the social insurance fund and speed up the development of the commercial insurance market.