You are sold an ambiguous insurance product that seems to be true, but you buy it because of your acquaintance with the person. Then when an accident really happens and you are waiting for the promise to be fulfilled, you are thrown a lot of disclaimers.

It's not a very pleasant thing to be so angry that you can't do anything but think you have bad luck. But I only understood it when I was really involved in the insurance sales business.

To be clear, having everything in place only exists in fantasy, because a large number of actuaries have spent a lot of effort to come up with a product that relies on probability and chance, and the key point is to ensure profitability.

How to minimize the compensation for losses in the face of a threat that everyone may face is a mathematical problem and a legal issue, so there are so many things that are dizzying.

The cumbersome legal provisions that make people dizzy and subconsciously want to escape are artificially created, and various disclaimer conditions are in effect, which keep out everyone who wants to take advantage.
“First draw the target and then shoot the arrow. The key to success in the insurance industry lies in how to take advantage of the accidents of a very small number of people, cleverly bind the vast majority of people, and repeatedly test with actuarial models…”

Hong Wannian, director and deputy general manager of Qingyun Great Eastern Insurance, was sent by the original Great Eastern Insurance to help Jiang Yi improve its mainland business. He rarely comes to the company's headquarters in Shanghai.

In the past, I only heard that the new boss was good at doing insurance business, and in fact, he was indeed good at it, because the resource application and channel promotion of Qingyun Group were far beyond the reach of its peers.

In addition, relying on micro-payment Internet finance, with Jiandan Ai Mutual Aid to provide great assistance, the main focus is on highlighting which will come first, tomorrow or an accident, which has indeed attracted many personal medical insurance users for Qingyun Dadongfang.

As for the unique resource advantages in auto insurance, life insurance and other products, Qingyun Great Eastern has demonstrated its strength and dominance far beyond its peers from the very beginning!

Only on the payout ratio, neither Jiang Yi nor Hong Wannian were impressed by Li Zehua's idea, especially Hong Wannian who explained under pressure:
“Chairman, I personally have no intention of offending your authority, nor do I intend to resist orders from the company on behalf of the insurance business.

But as someone who has been working in the industry for more than a decade, I don’t think I’m the best…”

"Stop, just keep it short."

Facing his boss's complaints, Hong Wannian didn't care at all and continued, "From my professional perspective, I insist that the legal means of the compensation department are far more important than mathematical models.

Whether in China or overseas, the essence of protection has never been about compensation, but about setting higher costs for redemption, which discourages most people when a large-scale crisis beyond probability strikes.

Allow companies a certain amount of wiggle room so that they can use means outside the rules of the game and delay until new interpretation clauses are implemented, even if lobbying for higher-ups fails and the clauses are enforced.

There is also enough time to transfer funds to avoid the entire company falling into the abyss due to a major accident..."

Hong Wannian couldn't understand why Li Zehua, an outstanding businessman and business leader who could lead the company to glory in a short period of time, was confused about the insurance redemption method.

What is 100% compensation?

What is a satisfaction survey?

In his opinion, these are all unrealistic fantasies. If the purpose of protection is compensation, then in theory there is no such thing as guaranteed profit in this industry.

If every exemption clause is introduced not to leave room for wrangling in the future and to use various means to evade compensation, then it is meaningless.

For example, regarding medical insurance, it is unlikely that an accident will happen to most people before the age of 35. At this time, some compulsory measures are needed to force them to join the medical insurance.

Use the high probability that no accidents will occur to increase the size of the capital pool, and after the age of 30, especially when the physical examination data is judged to be high-risk, try to refuse.

Even if they have to accept it, they will have to set a sky-high premium, because the bottom line is the responsibility of the state. As a commercial insurance company, they only care about whether the company can survive smoothly.

The essence of protection is to use the pool of funds accumulated from the majority of accidents that will not occur to compensate for the losses of the very few people who do experience accidents. This number cannot be too high, otherwise it will be unprofitable.

It also cannot be too low, as this will expose the truth and let the public know that accidents are unlikely to occur in a certain area, which will in turn affect the sales of insurance products in this area.

Of course, the most important point is to control or influence public opinion, divert the disputes and compensation away from the public, and try not to let it become the focus of public opinion.

Prevent more people from coming to their senses and forming a unified view on the security cause.

Now, Li Zehua wants to innovate and make changes in this industry and turn the insurance business into a win-win situation for both the company and consumers. Isn’t this asking too much?

"Not at all possible?"

Li Zehua didn't believe it. "What if we regard the guarantee contract as an investment contract for purchasing industrial funds?"

Not to mention Hong Wannian, even Jiang Yi was shocked, "Boss, don't scare me! Overseas, it's not that no one has done this before, changing security to business, but in the end, all of them failed without exception."

Li Zehua was very curious, "Why?"

“Because if the situation breaks out, you will have to bear the wrath of everyone, and if you don’t prepare enough reserves, you won’t be able to afford the compensation when an accident occurs.

The simplest example is that according to what you said, when designing any protection product, the priority should be to reduce the various explanations that people cannot understand.

Plain language can certainly help people avoid pitfalls, but it also makes the company lose the final right of interpretation. Without the initiative, when accidents occur later, there will be no room for maneuver, even the adjudicating authority.

It is impossible for them to openly favor us.”

Hong Wannian explained with a wry smile: "As for the tricks in the ruling, it has been the same in ancient and modern times, both in China and abroad. Who lets us control the resources? Although it is not as direct as outside, it is not as direct in China.

We can even say openly that the thing is to serve us. No matter how lofty and high-sounding it sounds on the surface, it cannot escape one essence: who holds the window of interpretation.

Whoever has the final say...

Now if you want to give up the benefits that should belong to you and allow more people to participate and enjoy the dividends, you will inevitably face collective opposition from practitioners in the industry.

At first they will send people to lobby and persuade you, the boss, to change your mind."

Li Zehua's eyes were somewhat amused. "What if I don't listen and insist on making it a success? There will be fewer detours, and the compensation will be paid on time. Even if no accidents happen, I can still get dividends every year.

Or, like auto insurance, the premiums will be greatly reduced next year, the compensation amount will increase, and it may even develop into a pool of jointly held funds in the future.”

"That means becoming a complete disruptor of the industry and a target of attack by everyone."

Hong Wannian discussed the matter objectively. He had to make Li Zehua clear that the security industry was different from the industries he had been involved in before, no matter how powerful the leading company was.

It cannot possibly be a rival to the industry alliance. It is no exaggeration to say that apart from the banking group, insurance is the undisputed and absolute powerhouse in the financial sector.

Li Zehua went to the tiger mountain knowing that there was a tiger, "I just don't understand why the insurance industry can't learn from the banks, except for compensation when accidents happen.

If the protection contract is viewed as a risk-free, backed-up, large-scale deposit, compensation will be paid in the event of an accident, and interest and dividends will be received if there is no accident, thus establishing a more extensive protection system at the lowest cost.

Isn’t this actually more in line with the above policy?”

“But what about all the other profitable products and companies?”

Jiang Yi couldn't help but say, "In fact, the fat meat that the company has reaped in the transportation industry has already made some companies very unhappy, but they are forced to do so because of the connections and background that the company has.

It hasn't happened yet. If you insist on doing what you want, it will be like putting up another target in a conspicuous place for everyone to attack without restraint."

Hong Wannian also advised him, "Boss, the insurance industry is very complicated. We are here to make money. We should do our best to pay out compensation and benefit more people with a clear conscience.

If we go one step further, we will be in the abyss. We are very likely to be besieged by the entire industry. Not to mention the long-term, life insurance is not something that the company can deal with, not to mention the interests of the tens of millions of people who rely on this system for their livelihood. "

Li Zehua held his chin and thought for a long time before saying in a deep voice, "So, there is no chance at all?"

Hong Wannian said categorically, "It's impossible. Whoever wants to turn the insurance industry into a bottom-line insurance will have to bear the wrath of the market crash. Even if the group is ten times stronger, it's impossible!"

"That's strange. Look at how these security projects passed the review so openly, and how come they didn't attract a lot of attacks from companies in the industry?"

Li Zehua smiled and turned around to take out a stack of documents from the drawer. It was a new type of universal insurance recently launched by Dingguo Insurance Company. To put it bluntly, it was a panacea project launched by various insurance companies when the Internet financial industry was developing at its craziest in the past life, with a high rate of return and a low entry threshold.

Mr. Xiao Lu and Mr. Wu of Dingguo have no scruples anymore. Their attempt to grow and develop by using various personal connections to obtain funding from Zhongxin and Minsheng has failed.

As for the acquisition of Sichuan Baihua Bank, there are many processes and projects that need to wait for approval responses. Far water cannot put out the nearby fire. In order to save their lives, several people decided to fight it out!
Universal insurance was born ahead of schedule in later generations, striving to raise enough funds in the shortest possible time to make up for losses from bank loans and financial speculation, and at least to prevent the Dingguo Group from going bankrupt.

After taking the document and reading it carefully, Hong Wannian said expressionlessly, "Extraordinary times call for extraordinary measures. I guess I have informed all the parties in advance and obtained their understanding.

It will be difficult to use it after the crisis is over.

Even if peers don’t exclude them, the higher-ups will try to stop it.”

Jiang Yi also didn't quite understand, "No, why is it okay to save yourself but not to do it sincerely?"

Hong Wannian is indeed a business elite, and he revealed the secret at once, "Because Mr. Xiao Lu, Mr. Wu, and Mr. Hu are all carnivores, they have strong enough support.

All parties should give some face to the Buddha instead of the monk. Now they are just giving up a certain share of other resources in exchange for the survival of Dingguo Group. Who would be the bad guy?

Anyway, I don't have to pay to fill the hole myself. Just like when Dingguo sought help from Qingyun Group and provided liquidity support, didn't the boss also provide $7 million to help?"

"That was the bribe in exchange for Zhong Xin's permission to pass. As for whether Zhong Xin used it to help Dingguo overcome difficulties, that is not something I should consider.

However, Zhongxin Chairman Kong Cang seems to have crossed the line. Not only was he forced to retire early, but he also lost some of his original benefits. It can only be said that the relationship between the two companies has been completely tied together. "

Involving some information that cannot be delved into, Li Zehua led the topic back, "Let's get back to the issue of meat-eaters being despicable. Anyway, what you mean is that it is okay to make people give in temporarily in exchange for resources.

If you keep doing it for a long time, no matter what your starting point is, you won't be forgiven, right?"

Hong Wannian really didn't know how to answer this time, and finally he could only sigh and say, "If you really want to take advantage of this opportunity to make a fortune and leave, it will be easier.

Now that we have someone taking the lead and the group has strong power behind it, we can also make a similar product and use existing channels to promote and distribute it on a large scale, which may allow hundreds of millions of people to invest money.

But as I said, the premise is to make a quick buck and run, because based on the return rate of the universal insurance launched by Dingguo Group, there are only a few companies in the world that can achieve this.

To put it bluntly, it is to use the dominant position to act like a gangster. Whether it can be fulfilled in the future depends entirely on fate, or until the scale of funds is large enough to influence and manipulate a certain industry.

Only by attracting more people to share the risks and bear the losses can the business be implemented smoothly.

However, once the attempt to influence and control a large industry fails, or a major accident occurs during the operation, resulting in huge losses, it will collapse prematurely.

I don’t know how many people will lose everything by then…”

His words and actions implied one thing: if he couldn't do it, he had to prepare a fallback plan in advance, and leave immediately when something went wrong, leaving enough backup to clean up the traces and wait until it was safe.

Then he took the money and lived a life of incest and drunkenness.

"Because there are countless benefits involved, the more people are lured in, the greater the benefits. After all, it is a zero-cost business, and the revenue scale is almost equal to the net profit.

If you sell one hundred and make one hundred, there will naturally be enough extra profits to share. The more people there are behind you, the safer it will be during the execution phase, even if something unexpected happens in the future.

In order to protect themselves, everyone will also try their best to clean up your traces and get rid of the responsibility. It's really a black humor. The bigger the incident, the smaller the thunder...

In the end, at best, all parties will throw out some unlucky people to calm the situation down, because no one can bear the consequences of a falling out, so they will quickly reach a compromise and join forces to deal with the matter.”

"It's nothing more than a question of whether the distribution direction is upward or downward. It's so mysterious."

Li Zehua smiled, "But don't forget, our ultimate goal is not the mainland, but the outside world!"

Jiang Yi was finally moved, "Don't joke, if you really do this, I'm worried whether I can see the sun the next day."

Hong Wannian was also terrified, "Boss, I'm not even 40 yet, I have a happy family with two children, and I want to live a few more years."

Are you kidding? It's not the same in foreign countries either. Everyone knows that big companies in the insurance industry have assets of trillions of dollars. They have relied on sufficient funds to operate for so many years and have invested in countless industries.

It secretly influences and controls the global economic trends. Even some small and medium-sized countries are like children in front of the insurance giants. People often say that the United States has severe taxation and has its own independent enforcement team.

But don't think about it, it is still a public institution influenced by capital. If it is replaced by their own wallets, not to mention the execution team, even if it is mold, they can come and go at will.

To put it bluntly, everything there has to serve capital.

Li Zehua certainly understood this, but it did not stop him from carrying out his plan, because if a person has no pursuit, then what is the difference between him and a salted fish.

He pointed at the universal insurance document launched by Dingguo Insurance on the table and said, "According to this framework, we can come up with a similar product. In principle, the rate of return cannot exceed 8%, and the period is three years.

The rate of return and the number of years are within the company's affordability. In addition, you can think about whether you can include the guaranteed return of universal insurance in addition to compulsory insurance.

If insurance can be made like a bank, earning extra profits through various guaranteed investments, even if the returns are not too much, it would be acceptable as long as it can outperform inflation.

As for universal insurance, China will follow the lead of Dingguo Insurance. Their rate of return is 12-18%. This is abnormal. We will not learn from them. Therefore, we do not force the sales amount. As long as we have it, it is fine.”

Li Zehua said this with a big smile, “I remember that Great Eastern was Lijiapo, the largest insurance group in Malaya, and also had business in Indonesia and Siam.

Then we would like to ask two professionals to use their previous network resources to find out the various implementation policies and hidden dangers of universal insurance in these countries.

Think about it, when a contract with a high rate of return and additional security is placed in front of these people, do you think anyone can resist the temptation? "

"This is impossible!"

Jiang Yi's expression changed instantly, and he refused directly: "Even the Great Eastern cannot accept it."

"Really? You are too confident, but I like your confidence, keep it up."

Li Zehua didn't care at all, and even had the leisure to operate the mouse. The next second he seemed to be talking to himself, "Unfortunately, it's useless for you to refuse, because someone will agree."

As if to cooperate with him, a voice came through the microphone, "Mr. Li, do you want to combine universal insurance and micropayment Internet financial strategies to achieve your goals faster?"

Jiang Yi was stunned. Hong Wannian was about to speak when he heard a familiar voice and shut up instantly.

Because the person who spoke was Li Yuqing, the chairman of Great Eastern Insurance and the father of Jiang Yi (pseudonym), he obviously knew more inside information.

However, he did not agree immediately, but weighed the pros and cons, "Mr. Li, you should know that the environment in the two places is different. Here, we also have to consider the influence of America.

If there is another foreign exchange crisis, without sufficient US dollars to back it up, the currency you get may be worthless. "

"So, the gold stored in Lijiapo Bank is one of the bargaining chips I use to realize my plan. I will find a way to get more US dollars."

Li Zehua is very confident. "As long as there are strong enough US dollar assets as collateral, are you still worried that the plan cannot be completed?"

Li Yuqing was silent, and slowly said a number...

(End of this chapter)