[New regulations on product development are about to be implemented, small and medium-sized property and casualty insurance companies will usher in misaligned development space] On October 30, the "Insurance Product Development Management Regulations for Property and Casualty Insurance Companies" revised and released by the State Administration of Financial Supervision will come into effect on November 1. This is the first systematic revision and improvement of product development management regulations in the property and casualty insurance industry in the past decade. The reporter learned from recent research that after continuous standardization in recent years, the results of standardized operations, cost reduction and efficiency improvement in the property and casualty insurance industry have begun to appear in the market. Industry insiders said that after the formal implementation of the regulations, the comprehensive management of non-auto insurance has entered the "deep water zone". As disorderly competition cools down, small and medium-sized property insurance companies will usher in misplaced development space, especially in service technology innovation, which has huge development potential. (Shanghai Securities News)