《人身保险产品费用分摊指引》发布

Core Viewpoint - The China Actuarial Association has released the "Guidelines for Expense Allocation of Life Insurance Products" to enhance the scientific and rational allocation of expenses in life insurance product pricing, aligning with the "reporting and operation integration" requirements [1][2] Group 1: Guidelines Overview - The guidelines focus on the practical aspects of expense allocation in life insurance products, detailing definitions, principles, methods, and management of expenses [2] - The insurance industry has made significant progress in implementing "reporting and operation integration," leading to a substantial reduction in overall costs [2] - There are still inconsistencies in expense recognition and allocation among companies, particularly regarding variable and fixed costs [2][3] Group 2: Expense Definition and Categories - The guidelines apply to expense allocation for individual long-term life insurance products, defining product expenses as costs incurred by insurance companies in their operations, excluding taxes [3] - Variable expenses are directly related to sales, including commissions to intermediaries and sales personnel, while fixed expenses are business and management costs not classified as variable [3][4] Group 3: Exclusions from Expense Allocation - The guidelines specify four categories of expenses not to be included in product expense allocation, such as costs not arising from the sale of the company's insurance products and investment-related fees [4] - This regulation aims to eliminate ambiguity in expense allocation, ensuring that product pricing reflects only relevant and ongoing costs [4] Group 4: Principles and Methods of Expense Allocation - The guidelines establish a "recognition before allocation" principle for expense identification and allocation, promoting a scientific approach to expense management [5][6] - Six methods for expense allocation are provided, including time survey, activity-based costing, and driver-based methods, ensuring consistency between new and existing business expenses [6] Group 5: Industry Impact and Future Directions - The release of the guidelines is expected to enhance the scientific nature of expense allocation in life insurance pricing, improve expense management levels, and promote fair competition and high-quality development in the industry [7][8] - The China Actuarial Association plans to conduct industry training to raise awareness of the importance of expense management and support ongoing research in expense allocation practices [8]