Latest! Sellers of POE insurance begin to protect their rights

Regarding the POE insurance policy explosion, some people speculated that it was caused by the rift between POE and the platform, and Amazon's practice of first approving and then rejecting it was to blame. However, industry insiders revealed the essence of the matter: POE did not have the qualifications to sell insurance in China, so the so-called product protection and claims were out of the question. In addition, with a series of outrageous marketing promises such as "buy two years and get one year free", it was only a matter of time before it hit the landmine.

One year after Amazon introduced the insurance requirement, most sellers have equipped their accounts with insurance, and the earliest batch of sellers who purchased insurance have also completed the renewal recently. Yien.com learned that some products that have been insured have entered the claim stage, including electronic product explosions.

The policy is voided, and the seller of POE insurance begins to protect his rights

Yesterday, an Amazon seller posted a message in the industry, calling on colleagues who purchased insurance from the US POE insurance brokerage company to collectively defend their rights, and compiled everyone's purchase time, purchase price and channel, intermediary name, contact number and other information, hoping to recover the losses caused by this sudden incident.

Around March 25, many sellers received an urgent notice from Amazon. The platform stated that after reviewing the documents provided, it was determined that the seller’s insurance certificate was insufficient to prove that the policy met Amazon’s requirements. The root cause was that the policy identified in the POE insurance certificate did not exist.

As a result, sellers need to purchase a new commercial insurance and upload the insurance certificate within 45 days. Amazon specifically emphasizes that the new insurance policy cannot be completed through POE insurance. The seller is not at fault for this matter, and the relevant accounts will not be affected.

After receiving the email, sellers who purchased POE insurance quickly contacted the intermediary who placed the order, but the other party's response was disappointing.

"Whether it is a refund or a reissue of the insurance certificate, the seller needs to contact the US POE official himself . " An agent stated that the real buying and selling relationship is between Amazon sellers and POE companies, and has nothing to do with the agents. In addition , she said that the insurance is still valid, but Amazon does not recognize it, and claims can still be made through formal channels after an accident.

Other agents had the same attitude. " My service provider replied, 'I 'll ask the insurance company , ' and nothing happened . " A seller sighed, and some agents even disbanded the seller group. The service providers who had previously advertised that "POE insurance originated in the United States and is the preferred choice for enterprises" all dispersed, leaving only the sellers who had to pay another insurance premium looking at each other in bewilderment.

Who is to blame for the POE explosion? The hidden dangers have been buried long ago

After the incident, some people blamed the platform, believing that Amazon had previously reviewed and approved the POE insurance certificate, which led more sellers to decide to purchase insurance through POE insurance. However, now it is overturned with just an email, and the platform is responsible for negligence.

In fact, many sellers do not trust POE insurance. For example, one seller mentioned that insurance premiums should be determined based on product sales and risk levels, but POE's premiums are fixed, and he was suspicious of this. As more and more sellers bought from him, he finally joined in. "I thought it was a bit fishy before, but when I saw that other people bought it and nothing happened, I let my guard down. I didn't expect there would be problems again."

Mr. Zhong, a senior insurance professional, said that from the industry's perspective, there were signs of POE insurance problems a long time ago, and it was only a matter of time before things broke out.

The first is the identity and qualification issue. "If POE is an insurance company, I am sure it does not have the qualifications to sell insurance in mainland China, because it does not have a main body in mainland China and cannot issue insurance without registration and filing with the China Banking and Insurance Regulatory Commission. If it is an insurance brokerage company, it is even more outrageous, because brokerage companies cannot issue insurance policies and can only promote the products of various insurance companies," he said.

( POE-related consultation previously received by Mr. Zhong )

According to Amazon, POE Insurance is not an insurance company, but an insurance broker. Therefore, POE's behavior is "illegal practice of medicine". Without insurance business qualifications, its so-called protection and claims for sellers are non-existent and out of the question. This is also the core issue of the POE Insurance incident.

Secondly, POE's marketing is not reasonable. Mr. Zhong said that POE's promotion is contrary to the rules of insurance, such as unlimited risk, buy two years and get one year free, fixed premiums, etc. "How can this be the idea of ​​conventional insurance business? Many people in the industry can see that there are many problems at a glance."

As for the reason why Amazon first released and then rejected, Mr. Zhong analyzed that the reviewers in the background of Amazon are not insurance professionals. For the certificates submitted by the seller, they may know to check several factors, such as whether the catalog and name are correct, whether there is an insurance company's seal, etc., but they do not know whether POE Insurance is an insurance company. Amazon also did not specify which insurance company's certificates can be passed, so there was an early release of POE insurance policies. As Amazon's insurance requirements become more and more stringent, and POE's series of operations have attracted more attention in the market, this liquidation has taken place.

"Why was POE eliminated? Because Amazon has increasingly strict requirements for insurance compliance. Insurance is promoted to provide protection for sellers and platforms. The emergence of POE has broken this protection, making the market more chaotic, reducing the protection for sellers and platforms, and even saying that there is only a fake insurance policy without protection. This kind of thing must be eliminated."

Sellers can apply for a full refund, and backend recommended companies are safer

Mr. Zhong believes that it is difficult for POE sellers to protect their rights because they do not have a registered entity in mainland China. If such a problem occurs in a company with regulatory access, there are official channels for protecting their rights.

Now, sellers who purchase POE insurance can choose to go through two steps:

1. Apply for a full refund from POE Insurance. However, the company has a large number of policies and the interests are complicated, so a full refund may not be possible;

2. Find a qualified company to buy insurance . There are no problems with the companies recommended by Amazon, and all online and offline certificate platforms recognize them.

Insuring a product is not only a way to submit a pass to the platform, but also a talisman for sellers if there are claims in the future. When it comes to choosing an insurance company, many sellers mentioned Ping An of China.

The editor learned from Ping An Insurance's claims department that among the many Amazon accounts that have been insured since last year, some products have been reported as claims and are being processed for compensation.

Among them, an overseas buyer purchased an electronic product from an Amazon seller. It exploded while charging on the bed, causing furniture to be burned and second-degree burns to people. The buyer eventually paid US$7,605.76 in compensation, equivalent to RMB 48,567.34.

Another case is cosmetics causing consumer allergies. A buyer suffered from allergies on his face and hands after using nail polish products sold by an Amazon seller. The agent initially estimated the loss to be $1,600-1,800 and commissioned a third-party assessment agency to determine the liability and loss. The case is currently being processed.

Ping An Insurance has done a good job of after-sales service for many sellers . As an insurance provider officially recognized by Amazon, one of its policies can cover all the sellers' products on sale (except for some high-risk products) . Both corporate and personal accounts with complete information can be insured.

Sellers can purchase insurance online and obtain the insurance certificate in English within 1-2 working days. Scan the QR code below or click "Read More" to learn more.

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