The European Chamber’s Consumer Finance & Non-Banking Financial Institutions Working Group and Insurance Working Group are delighted to invite you to the Joint Working Group Meeting “Cross-Selling Insurance” which is to take place on Wednesday 9h December 2020, 16:30-18:00 pm CST.
Register online or email Charlotte Svensson at csvensson@europeanchamber.com.cn before 7th December, COB. You will receive a confirmation email containing the link to join the meeting via Zoom after registration closes the day before. You may also attend in person at our Beijing or Shanghai offices. Please indicate your preference when you register.
Compared with traditional commercial bank customers, consumer finance customers and auto finance customers have a higher credit risk: they are more vulnerable, and more likely to default and obtain bad personal credit records. At the same time, these customers might be unfamiliar or do not proactively seek the security net that insurance provides. Meanwhile, insurance groups and holding companies strive to bring synergies to their markets by cross-selling between life insurance, health insurance and P&C companies, which requires them to obtain the qualification of cross-selling each other’s products in China. Many foreign-owned insurance companies do not have this cross-selling qualification, and those that do have obtained it in the past only for selected business lines. Meanwhile, draft regulation for commercial banks to cross-sell insurance has been released. In addition, consumer finance companies and auto finance companies seek to act as insurance agents in the same way that banks do. To successfully compete in the market, insurance companies, consumer finance companies and auto finance companies must be enabled to apply for this qualification.
At this meeting, Ms Anastasia Kornilova, Home Credit and by Dr. Markus Arnold, Assistant GM, Chief Business Officer and Ms Maggie Zhu, Head of Legal & Compliance, at Allianz Holdings will brief us on cross-selling of insurance products from both the consumer finance/ auto finance perspective and the insurance perspective, and what is possible for our respective WGs to bring to the attention of the regulator while strategically lobby on it.
Tentative agenda
16.30 Welcome remarks by Mr. Ronan Diot, Groupama-Avic, Insurance WG Chair
16.35 Presentation by Ms Anastasia Kornilova, NBFI WG Chair, Home Credit
16.50 Presentation by Dr. Markus Arnold, Assistant GM, Chief Business Officer and Ms Maggie Zhu, Head of Legal & Compliance, Allianz Holdings
17.10 Panel Discussion and Q&A
17.45 Closing remarks by Mr. Ronan Diot, Groupama-Avic, Insurance WG Chair
18.15 Start of Networking Dinner at nearby restaurant
This meeting will be followed by a Networking Dinner for WG members in Beijing.