Parts burden index may become the basis for auto insurance pricing
A senior industry insider said that the "Automotive Consumers’ Common Accessory Burden Index" reflects the cost of daily use of vehicles. The higher the burden of the car, the higher the cost of use, which means that the car insurance premium may be more expensive. When selecting relevant models, comparisons can be made based on the burden index.
In March of this year, the China Insurance Regulatory Commission announced the "Deepening the Pilot Work Plan for the Reform of the Commercial Vehicle Insurance Clause Rate Management System" (referred to as the "Plan"), which identified six areas under the jurisdiction of the CIRC including Heilongjiang, Shandong, Guangxi, Chongqing, Shaanxi, and Qingdao. The reform pilot areas will start the pilot program on April 1 this year.
The "Plan" clarifies the division of responsibilities and tasks of each relevant unit. The China Insurance Association is responsible for drafting commercial auto insurance model clauses and premium industry benchmarks, and establishing a new type of commercial auto insurance clause evaluation and protection mechanism. Property insurance companies are responsible for independently determining commercial auto insurance clauses, scientifically determining commercial auto insurance rates, submitting commercial auto insurance clause rates in accordance with the law, and establishing a monitoring and adjustment mechanism for commercial auto insurance clause rates.
Feng Jun, deputy director of the Auto Repair Association, said that according to foreign experience, the accessory burden index is an important reference indicator for auto insurance rate pricing. However, China's auto insurance rate is left to market companies to decide, and how the company does it is the company's commercial behavior.
Su Yaohui also believes that the determination of commercial auto insurance rates is determined by many factors. The principle is to give the pricing power to the insurance institution and the choice to the market. As for whether the insurance company determines the rate with reference to the accessory burden index, and how to determine it is the insurance company's choice. According to foreign experience, accessory burden index, driving habits, etc. are all important references for the determination of auto insurance rates. The more data, the more scientific the pricing of auto insurance.
Data exposure of 20 commonly used models
The China Insurance Association and the Automobile Repair Association also released the third batch of domestic data on the zero-to-one ratio of 20 commonly used models. The data shows that the ratio of Beijing Benz E-Class W212 model is 6.6 times that of 20 models. Then, the top 5 in the overall ratio are Brilliance BMW 5 Series F18 (6.53 times), Guangqi Honda Fit (4.93 times), FAW Audi Q3 (4.64 times), FAW Toyota RAV4 (4.1 times), Dongfeng Nissan Sylphy (3.94 times) ).
In April 2014, the two associations jointly released the "integrated vehicle parts ratio" coefficient of 18 common models, and Beijing Benz C-class W204 ranked first with a coefficient of 1273%. Subsequently, FAW Audi announced to lower the prices of after-sales parts. In August of the same year, Mercedes-Benz, Chrysler, BMW, GAC Toyota, Guangqi Honda, and Dongfeng Nissan successively announced the reduction of after-sales parts prices. In January 2015, Mercedes-Benz once again announced the price reductions , The price cut effect is obvious.