Comparing savings insurance returns with bank deposits in an oversimplified manner; highlighting health insurance claim payouts while omitting waiting periods and exclusions; luring customers with low first-month premiums only to auto-deduct high fees the following month; renting blue-verified accounts to illegally sell offshore insurance... With the "Financial Product Online Marketing Management Measures" (hereinafter referred to as the "Measures") set to take effect on 9/30, these problematic marketing practices will face strict regulation.
Beike Finance reporters noted that in 8 this year, the Beijing Financial Regulatory Bureau issued the "Notice on Carrying Out Self-Inspection and Rectification of Compliance for Internet Marketing Accounts of Insurance Institutions," requiring insurance companies and intermediaries based in or operating in Beijing to complete full registration of all institutional accounts on non-self-operated platforms such as Douyin, WeChat Channels, and Xiaohongshu by the end of 8. Each account must be cross-checked against internal approvals, Blue V verification, IP addresses, and actual controllers.
Earlier, the Property Insurance Department of the National Financial Regulatory Administration launched a comprehensive self-inspection in the property insurance sector. It strictly prohibited renting or lending business licenses and institutional qualifications. The inspection also examined whether external parties were authorized to use the institution's credentials to register and operate Blue Verified accounts, or to leverage accounts for traffic generation by promoting non-company products or offshore policies.
Industry insiders told Beike Finance that, in the short term, some high-conversion models relying on paid traffic, influencer promotions, and marketing scripts may face higher compliance costs, potentially increasing customer acquisition costs for certain institutions. However, in the long run, this will help eliminate sales misrepresentation and gray-area marketing, shifting competition back to products, services, expertise, and brand reputation.
New regulations on the horizon target insurance products engaging in borderline marketing tactics.
On 9 30, the "Measures for the Online Marketing of Financial Products" will officially take effect, specifically targeting insurance products that engage in borderline marketing practices.
Previously, promotional materials for wealth-management-oriented insurance products such as participating life insurance and increasing whole-life insurance often exaggerated returns or made simplistic comparisons between insurance returns and bank deposits. The Measures explicitly prohibit the creation of online marketing content that exaggerates insurance coverage or product returns, or makes simplistic comparisons between insurance returns and other financial products such as bank deposits or asset management products.
For example, Beike Finance previously exposed insurance intermediaries creating enrollment traps under the guise of "medical subsidy claims." They lure customers into signing up by charging only 0.6 yuan in the first month, then raising premiums to anywhere from dozens to hundreds of yuan in the second month. The Measures also set requirements for such non-compliant marketing: Online content involving installment payments must not use tactics like one-sided promotion of first-month discounts to induce consumption, and must not employ misleading terms such as "low risk," "low threshold," "instant approval," "high returns," "low interest rates," or "no cost."
Additionally, some insurance companies have partnered with unqualified individuals or entities to meet performance targets, using online marketing to drive traffic for insurance products. The Measures address this by stipulating that financial product marketing via public accounts, live streaming, or short videos must be conducted on the financial institution's own platforms or through legally established accounts on third-party internet platforms. Marketing personnel must be employees of the financial institution, hold relevant qualifications, and obtain authorization from the institution.
Insurers will assume greater responsibility in marketing with clearer rights and obligations.
Zhu Junseng, former head of research and professor at the Center for Insurance and Pension Studies, Tsinghua PBC School of Finance, told Beike Finance that the model in which financial influencers, content creators, and unlicensed streamers directly discuss insurance, recommend products, or facilitate transactions via live streams and short videos will be restricted. "This does not mean internet content dissemination is being rejected; rather, it clarifies who can promote financial products, what content can be promoted, who oversees compliance, and who assumes responsibility when issues arise."
Indeed, based on the wording of the "Measures," insurers will assume greater responsibility in the online marketing chain once the new rules take effect.
The Measures explicitly state that financial institutions are responsible for the legality and compliance of online marketing content. They must establish a review mechanism centrally managed, approved, filed, and subject to compliance checks by headquarters, ensuring the protection of rights and interests of financial consumers and investors.
It is also proposed that financial institutions shall not be relieved of their responsibilities for financial products merely because they engage third-party internet platforms to provide marketing services for such products.
More critically, the Measures stipulate that third-party internet platforms providing transaction channels for financial consumers and investors to purchase financial products must redirect users to the financial institution's proprietary platform, and are prohibited from redirecting them to other third-party internet platforms engaged in online marketing of financial products.
Zhu Junsheng stated that this will constrain the previous model where certain platforms effectively acted as "half-sales agencies" for insurers, making insurers' primary responsibilities, their own-channel development, and customer management capabilities more critical.
Fan Shiying, a senior attorney at Zeliang Law Firm, told Beike Finance that while the implementation of the "Measures" will temporarily increase compliance costs and limit customer acquisition channels for insurers, it will ultimately guide the insurance industry toward sustainable long-term development.
Minimal impact on agents focused on offline business; consumers will benefit directly.
As the "Measures" are set to take effect, Beike Finance learned that for most insurance agents who primarily operate offline, the new regulations have little impact. "Our company has always strictly regulated content published by agents on behalf of the firm—for instance, we conduct weekly reviews of agents' WeChat Moments. I rarely post insurance-related content there myself," said an agent with over a decade of experience.
Additionally, regarding the widely discussed issue of insurance agents' content boundaries in self-media, Long Ge, Deputy Director of the Innovation and Risk Management Research Center at the University of International Business and Economics, told reporters that it can be evaluated using "four criteria": whether product names, company names, or rates appear in the content; whether links, QR codes, or lead capture forms are included; whether conversion language such as "act now," "limited-time window," or "better than savings" is used; and whether the account bio lists "×× Insurance Company Client Manager + Professional License."
"The first two points constitute marketing, the third is misleading marketing, and the fourth determines that you cannot claim exemption as a 'neutral observer,'" Long said. Implementation will ultimately depend on the rules of major internet platforms and the scope of regulatory enforcement.
A source from an insurance intermediary told Beike Finance that the company has already established a list of compliant promotional phrases and developed a sensitive word detection feature on its internal platform to screen broadcast scripts. This helps avoid non-compliant language and violations of advertising regulations, so despite the high volume of online marketing content, the new regulations are expected to have minimal overall impact.
However, Zhu Junsheng believes that product comparison, personalized recommendations, and algorithmic marketing on online platforms will enter a more regulated phase. Internet insurance inherently offers advantages in comparison, filtering, matching, and reducing search costs. Regulation does not negate these functions but requires that they do not evolve into tools that mislead consumers or facilitate the disguised sale of financial products.
"In other words, algorithms can help consumers find products but should not exploit cognitive biases to induce purchases," said Zhu Junsheng. With the new regulations taking effect, business models that relied on traffic volume, persuasive scripts, and algorithmic pressure to drive transactions will gradually fade. What truly matters going forward is product value, information transparency, service professionalism, and whether insurers can transform one-time transactions into long-term customer relationships. Ultimately, internet insurance is shifting from "traffic management" to "customer relationship management"—a deeper impact of the Measures on the industry.
Fan Shiyin believes consumers will directly benefit from the new regulations. Insurance is a highly specialized financial product, and ordinary consumers have limited understanding of its rules. By regulating the source marketing channels, the "Measures" make insurers' offerings and promotional content more transparent and professional, reducing the cost for consumers to verify information and build trust in insurance products. "Overall, as regulatory efforts continue to curb chaotic online insurance marketing practices, public trust in the insurance industry is expected to gradually improve."
Xin Jing Bao Beike Finance Reporter Pan Yichun
