The problem of difficulty and high cost of insurance for new energy vehicle insurance will usher in a "breakdown".

On January 24, the State Administration for Financial Regulation and four other departments jointly issued the "Guiding Opinions on Deepening Reform and Strengthening Supervision and Promoting the High-Quality Development of New Energy Vehicle Insurance", and proposed a package of policy measures. This is my country's first new energy vehicle insurance guidance, which will have great significance for safeguarding consumer rights and promoting the healthy development of the industry.

Industry data shows that in 2023, the average premium for new energy vehicle vehicles will be 63% higher than for new fuel vehicles. After deducting factors such as car age, the premium for new energy vehicle vehicles is still about 10% higher than for new fuel vehicles. But at the same time, the industry's new energy vehicle insurance underwriting loss in 2024 was 5.7 billion yuan, showing continuous losses.

How will the guiding opinions "break the deadlock"?

Innovate the idea of ​​supply of auto insurance and resolve insurance problems—

Innovative guidance opinions are proposed to establish a high-payment risk sharing mechanism. This measure will be implemented the second day after the guidance is released. On January 25, the "Auto Insurance Good Insurance" platform will be launched to help high-payment risk vehicles successfully acquire insurance. Insurance companies participating in the platform cannot refuse insurance.

In response to the diversified demand for new energy online car-hailing and battery swap models, the "basic + change" new energy vehicle insurance combination products and the "vehicle-electrical separation" model automobile commercial vehicle insurance products will be studied and launched to provide more scientific and reasonable guarantees.

In addition, a series of policy measures such as "steadily optimize the floating range of independent pricing coefficients" and "optimizing the benchmark rates of commercial auto insurance" will also optimize the supply of auto insurance and promote a more matching of prices and risks.

Reduce maintenance and use costs and make premiums more reasonable -

"Encourage and promote new energy vehicle maintenance parts supply channels and types" "Encourage and promote new energy vehicle enterprises and power battery enterprises to improve the maintenance economy of power batteries through technology opening, support their self-operated or authorized networks to sell 'three-electric system' accessories to the society"... A series of measures are intended to break the "maintenance barriers" of new energy vehicles and reduce insurance compensation costs.

The guiding opinions also propose to explore the establishment of a risk grading system for insurance vehicle models. Taking into account the results of low-speed collision tests, the prices of vulnerable parts, and the working hours of common maintenance projects, the insurance model classification level is timely optimized and promoted its linkage with commercial auto insurance premiums.

Multiple fields work together to ensure the effective implementation of policies -

The high-quality development of new energy vehicle insurance cannot be separated from the joint efforts of multiple fields such as insurance, automobiles, transportation, and trade. The guiding opinions focus on strengthening overall coordination, strengthening the responsibilities of all parties, and ensuring the effective implementation of policies.

For example, four departments will establish a normalized contact mechanism, guide multiple units to establish a data sharing mechanism, and carry out data sharing related to new energy vehicles in accordance with laws and regulations; in order to reduce the cost of using consumer parts, the China Association of Automobile Manufacturers will accelerate the construction and improvement of the new energy vehicle parts ecosystem...

The "roadmap" for high-quality development of new energy vehicle insurance has been drawn.

As an important step in deepening the comprehensive reform of auto insurance, I believe that the release of guiding opinions will help improve the protection capabilities of new energy vehicle insurance, better safeguard consumer rights, and promote the coordination and win-win situation of the insurance industry and the new energy vehicle industry.

Planning: Chen Fang

Reporter: Zhang Qianqian, Li Yanxia

Produced by Xinhua News Agency