The 2018 China Insurance Consumer Confidence Index Report prepared by CISFC was released in Beijing recently. According to the Report, the CICCI stood at 71.9 in 2018, 43.8% higher than the neutral value of 50. The index within the range of high confidence indicates stable and optimistic insurance consumer confidence.

Specifically, insurance consumers show stable confidence in the general insurance industry development environment，and they are optimistic about its future development and operations. Insurance consumers also enhance trust in the industry and make positive comments on the honesty of insurers in selling products and settling claims as well as on the convenient access to product information and services. The consumption confidence maintains at a higher level, and the public trust foundation that insurance operation relies on is solid. Consumers’ purchase intentions remain strong, and their loyalty is relatively high. The insurance industry which has shifted its focus back to basic functions and main businesses plays a greater role in insurance security.

Through in-person, telephone, and online interviews, the questionnaire survey has collected nearly 20,000 effective responses by commercial insurance consumers from 23 provinces across China. A total of 37 insurers including China Life, Pacific Life, AIA, PICC, China Life Property & Casualty Insurance, and Yong An Insurance offered great help to the online interview. They posted the questionnaire link and promotion article on their official sites, Weibo accounts, and WeChat platforms, attracting over 10,000 effective responses. Their strong support has significantly encouraged consumers’ participation.

The CICCI has been prepared and released for four years in a row. It reflects, to some extent, consumers’ confidence in the insurance environment and the insurance industry as well as their trust preferences and purchase intentions. Regular preparation and publication of the index improve insurance service and enhance consumer rights’ protection. The CBIRC Consumer Protection Bureau has given some opinions and suggestions on the Report. On this basis, CISFC will continue to improve the preparation methodology, optimize the index system, and promote the index application, in a bid to enhance insurance industry service to a higher level.