Motorbike insurance market becomes messy

The economic downturn created a significant pressure on all types of businesses and business in general non-life insurance in particular. The growing competition between these enterprises and we can see most clearly through market competition in the sale of motor insurance.

Motorbike insurance market becomes messy

Enterprise broke through selling motor insurance

From the period end of 2012, early 2013, the business of non-life insurance has consistently made offerings attractive advertising sales on websites and social groups to increase security sales motorbike insurance.

Those who sell motor insurance is not the small companies which are agents or collaborators for the big guns in the village of non-life insurance company in Vietnam.

The marketing of motor insurance sold to break even spread of the university auditorium, break of offices and agencies. Motorbike insurance is sold here is civil liability insurance which cost 66,000 dong regulations for a period of 1 year.

Insurance agents who sell motorbikes can collapse to the point just a banner and calling up the road to buy. Even insurance sellers can sell their motorbikes together with medical mask. Insurance agents who sell this type of motorbikes mushroomed along the major roads of HCMC and Hanoi. The paradox here is that while the motor insurance but buyers just to deal with the inspection of the traffic police, but did not expect to receive compensation if an accident occurs. Even many people suspected that the dealer sells motor insurance the way they had falsified insurance to be sold at such a large scale.

Competitive consequences from selling motor insurance

The non-life insurance company while constantly competing for market share in the sale of motor insurance but this market is not full of fresh fruit. First, the costs for the deployment sell motor insurance is not cheap. Commissions paid to insurance agents selling motorbike was 60-65% for 1 certificates ohiem baits. That's not to mention the additional costs such as the cost of printing only, marketing costs, compensation costs, ... Even the staff of an insurance company said the sale of insurance breakeven when the motorbike was good.