At the regular press conference of the Ministry of Finance on the afternoon of October 5, answering questions from the press about the inspection of life insurance companies, Mr. Doan Thanh Tuan, Deputy Director of the Department of Insurance Management and Supervision ( Ministry of Finance ) - said that this unit has completed the inspection of two life insurance companies, AIA and Dai-ichi.
"The Ministry of Finance is inspecting Manulife and another company. From now until the end of the year, the Ministry of Finance will continue to inspect 6 insurance companies as planned," said Mr. Tuan.
Previously, on June 30, the Ministry of Finance informed about the results of the inspection of insurance sales through banks for 4 insurance companies.
Accordingly, the Department of Insurance Management and Supervision (Ministry of Finance) has inspected insurance sales activities through banks at 4 companies including: Prudential, MB Ageas, Sun Life and BIDV Metlife.
The inspection results show that there are many violations in selling insurance through banks as agents, especially in the consulting stage of bank staff and brokers.
Some typical violations include: Not directly advising customers or not fully guiding them through the procedures during the implementation of the process and required documents according to the company's regulations; Not ensuring the quality of advice on insurance products, leading to customers not understanding the insurance products; Allowing others (other personal agents, bank employees) to use Ipads and agent codes to guide customers to enter information and not following the insurance fee schedule approved by the Ministry of Finance.
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