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China: Telemarketing fetches US$2.2 bln in life premiums in 2015

Source: Asia Insurance Review | Jun 2016

Life insurance sales from telemarketing in China last year jumped by 16% to CNY14.2 billion (US$2.2 billion) over 2014, according to data released by the Insurance Association of China. This is slower than the 20% compound annual growth rate for the years 2011-2015. 
 
   Telemarketing sales through life insurance companies’ own units accounted for 77% of the total telemarketing premiums received last year.
 
   Life insurance products dominated the telemarketing channel, accounting for 60% of the business in terms of premiums. Health insurance accounted for 18%. The remainder came from accident insurance and annuities.
 
   The data also shows that at the end of 2015, there were 69,000 insurance telemarketing personnel, 11% more that at the start of last year. The business generated by a telemarketer averaged CNY18,900 in terms of premiums per month and 3.4 in terms of the number of insurance policies.
 
   Last year, the overall life insurance market in China surged by 25% to CNY1.6 trillion in terms of premiums, according to data from CIRC.
 
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