Investigation on Insurance Product Mismatch Firewall: Product Hierarchy Generally Implemented, Personnel Hierarchy Ready to Launch

According to recent research from within the insurance industry, personal insurance companies have successively begun to implement suitability management for insurance products and sales personnel. In particular, as a preliminary procedure for suitability management and a firewall against product mismatch, the action of "labeling" insurance products by classification has been widely adopted across the industry—insurance products or specific information disclosures have updated their product classification and grading information. After classifying and grading insurance products, the industry is expected to further implement "seller responsibility" and promote the exploration and implementation of graded sales personnel. (China Securities Network)