Today, the Ningbo Financial Supervisory Authority issued a document stating that it will actively implement the three car insurance mechanisms and continue to standardize the car insurance business order. The first is to strengthen organizational deployment. Promote financial insurance agencies to strictly restrict the average independent pricing coefficient for new cars, strengthen cost control, and comprehensively promote the “honest repair” of accident vehicles. The second is to promote car insurance cost reduction and efficiency. Organize the industry to recalculate retrospective bias standards in various dimensions, and appropriately allow room for vehicle insurance rates to decline, forcing financial insurance agencies to adjust marginal revenue expectations for industry expenses, effectively reduce unreasonable cost space, and implement “price-fee linkage” and “clear discount” to truly benefit consumers. The third is to comprehensively promote “integrity repair.” Financial insurance agencies are required to proceed with data connection according to the plan, compare the list of compliant auto repair companies, and jointly promote the full implementation of the digital reform of “honest repair” of accident vehicles.

Today, the Ningbo Financial Supervisory Authority issued a document stating that it will actively implement the three car insurance mechanisms and continue to standardize the car insurance business order. The first is to strengthen organizational deployment. Promote financial insurance agencies to strictly restrict the average independent pricing coefficient for new cars, strengthen cost control, and comprehensively promote the “honest repair” of accident vehicles. The second is to promote car insurance cost reduction and efficiency. Organize the industry to recalculate retrospective bias standards in various dimensions, and appropriately allow room for vehicle insurance rates to decline, forcing financial insurance agencies to adjust marginal revenue expectations for industry expenses, effectively reduce unreasonable cost space, and implement “price-fee linkage” and “clear discount” to truly benefit consumers. The third is to comprehensively promote “integrity repair.” Financial insurance agencies are required to proceed with data connection according to the plan, compare the list of compliant auto repair companies, and jointly promote the full implementation of the digital reform of “honest repair” of accident vehicles.