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In recent years, the Internet has achieved rapid development under the impetus of big data and mobile. At the same time, the Internet is also frequently connected with traditional industries, which drives the upgrading and transformation of traditional industries, making the traditional industries intelligent, fast and simple. With the continuous integration of the financial industry and the Internet, the new insurance business model of Internet insurance came into being.

For Internet insurance, you may still be a bit strange. But what is Internet insurance? To put it simply, Internet insurance is based on information technology based on insurance companies or intermediaries, and networked insurance consulting, insurance, payment, inquiry, and claims. Compared with traditional insurance, it is more time-sensitive, flexible and economical.

Internet insurance is developing rapidly and the air outlet is over
 
 

In 1997, China’s first Internet insurance company website, China Information Insurance Network, was established. In December of the same year, the first domestic Internet insurance policy promoted by Xinhua Life Insurance Company marked the door of China’s insurance industry to enter the Internet.

Since then, China’s Internet insurance has experienced three stages of development:

From 1997 to 2007, the Internet insurance in its infancy, due to the low popularity of the Internet, the small number of Internet users, failed to achieve large-scale development at this stage.

2008 to 2011, is the exploration period of Internet insurance development. With the emergence of e-commerce platforms and third-party mobile payments, Internet development has begun to pick up. However, due to the relatively small scale of e-commerce insurance premiums of Internet insurance companies, the strategic value of e-commerce channels has not been fully reflected, so it is often overlooked.

From 2012 to the present, Internet insurance has entered an outbreak. With the improvement of the Internet and big data, e-commerce, mobile payment and other related industries have developed rapidly, laying a user base for the Internet insurance industry. At this stage, Internet insurance has developed in an all-round way and major business models have formed.

The insurance industry is booming, but traditional insurance companies can’t sit back and relax. The entry of Internet insurance has put them at great competitive pressure. Although traditional insurance is deeply rooted in the development of online development for many years, the development momentum of Internet insurance cannot be underestimated. In recent years, Ali, Tencent, Suning, today’s headlines and other Internet giants have also opened the door to Internet insurance, pushing Internet insurance to become an industry enthusiasm.

According to the recent China Insurance AssociationAccording to the data report released, 71 property insurance companies launched Internet insurance business in the first half of 2019, and Internet property insurance premium income totaled 38.153 billion yuan, a year-on-year increase of 16.89%. Internet traffic will be exhausted, but it still attracts a lot of players to enter.

The initial Internet insurance is only a direct sales channel for insurance. It uses insurance institutions or Internet companies to provide insurance products and consultations to users through self-operated platforms and third-party platforms. Since 2012, Internet insurance has entered a period of rapid development, and its participating entities and business models have continued to innovate, and Internet insurance has entered a diversified development.

However, nowadays, because the service remains in the insurance company, the insurance company has to re-acquire new customers, the traffic dividend will be exhausted, and the Internet insurance company will become more and more difficult to survive.

Since the strict supervision of the insurance industry in 2017, the entire industry as a whole has been positioned in the industry function of optimizing product structure, and the Internet insurance business has also grown slowly. Premium income also continued to fall.

Under the strict policy, in the first half of 2019, the National Insurance Regulatory System issued a total of 375 tickets for the insurance industry, with a total penalty of 58 million yuan. Compared with the same period in 2018, the number of tickets in the first half of 2019 decreased by four. Cheng, the amount of punishment is reduced by nearly half. At the same time, in order to further strengthen the requirements of the insurance industry “insurance surname”, Yinbao Supervision issued a series of policies to protect the legal rights of policy holders, improve the standardization of Internet insurance products, and enhance the customer experience.

In this context, Internet insurers have to make strategic upgrades and find new ways to get a better market.

Transfer from channel to scene to service
 
 

Traditional insurance mainly acquires users through the marketing of offline agents, and provides one-to-one publicity and explanation for users. However, the professional level of traditional insurance agents may be uneven, for each insurance Products may be misunderstood, so they can be misleading to users. Insurance under the Internet, using big data combined with the user’s own situation, can quickly select a product suitable for the user.

Under the increasing penetration of the Internet, Internet insurance concepts and thinking are changing. In particular, Internet giants have entered the insurance field, and players with their own traffic use Internet thinking and information technology to create more scene insurance.

For now, after 80, 90, as the main force of the Internet, Internet insurance is deeper into the hearts of young people. With the diversity of current consumption patterns, players are more focused on scenario insurance. In today’s Internet insurance era, channels are no longer the main core competitiveness. Instead of the scene, whoever has the scene, whoever masters the customer.

The current business model of Internet insurance mainly consists of traditional insurance companies and the Internet grafting model, third-party e-commerceThe platform model and the head of the Internet insurance company model. The diversity of patterns creates a diversity of scenes. Internet insurers have created embedded insurance and insurance products in many new scenarios.

The earliest scene insurance appeared in the e-commerce industry. The well-known Taobao freight insurance is the originator of scene insurance. With the success of Taobao’s freight insurance, more startups have followed the pace and started to explore. For example, traffic insurance during travel, compensation insurance for driving licenses, and scenarios such as consumption, travel, shopping, and payment, Internet insurance companies have begun to actively enter. Therefore, it can be said that the competition for Internet insurance will be the competition of the scene in the future.

According to people’s consumption concepts and lifestyles, it is foreseeable that after the scene dividends in the initial stage of layout are exhausted, the competition of Internet insurance will return to the competition between services and products. Whoever has better services will be able to get User’s favor.

Like the main service of Haidilao, no matter which store you can feel the enthusiasm of the staff. With excellent service attitude and unique taste, Haidilao has grown from an unnamed small store to a listed company with tens of thousands of employees and branches all over the country.

Similarly, as a new field of combination of finance and technology, Internet insurance not only relies on the superior advantages of the products themselves to attract users, but also establishes a sound service system to retain customers. With the rapid development of Internet insurance, people’s awareness of insurance continues to increase. When users face more product choices, service and trust are very important.

At present, the biggest challenge facing the industry is that it cannot give users trust and has no perfect service system. According to industry data, more than 90% of insurance platforms do not provide special service. If you encounter problems, you can only complain through customer service and organizations. For users, there is no guarantee. Buying insurance is more like a “gamble”. Some Internet insurance companies are doing the edge testing of one-off business, so it is extremely urgent to establish a sound service system.

With the maturity of artificial intelligence technology, more and more companies have launched 100% real-life one-to-one service through “AI+ manual customer service”. By understanding the user’s purchase rules and needs, they use big data to users. Recommend suitable insurance products to provide users with one-stop services from purchase to claims, eliminating user concerns.

In today’s Internet insurance era, services are very important to the company’s development, and user satisfaction determines whether the product brand can survive. Building a comprehensive service system to provide users with intimate services is now every Internet insurance company must act.

Internet insurance decentralization, intermediate development is the trend of the times

With the diversification of network services, the decentralized network model is becoming more and more clear. Decentralization and de-intermediation have become the wave of the times. Whether it is connectedThe network or the blockchain are all decentralized. For all walks of life. Decentralization has become a trend. Didi travel has subverted the car rental industry. WeChat Weibo has changed the way of communication by letter, so the power of decentralization is enormous. Under the wave of decentralization, Internet insurance has to be transformed.

Traditional insurance is not recognized by users because of its complicated marketing methods, and even users think this is a pyramid scheme. Although Internet insurance is an online service user, its promotion method makes users feel like a pyramid scheme. In order to satisfy the customer’s ultimate experience of the product, and to achieve customer-centric, decentralization has become the main direction of change. The decentralization of Internet insurance should be in the management, product design, and decentralization of sales channels.

For management decentralization, it’s not really without a center, but to make everyone a center. Turning a straight-line management organization into a networked organization, in terms of management, it is not the subordinates that turn around the higher levels, and more is that the production materials are transferred around the productivity factors. This will not only enhance the productivity factor, but also make the resource allocation more flexible, the management efficiency will be higher and higher, and the motivation of the grassroots employees and frontline employees will be stronger.

The decentralization of product design and sales channels is a process that is complicated and simple. There aren’t as many intermediate links as traditional insurance, which not only reduces costs, but also has a higher price/performance ratio. At the same time, let the user become active when passively selecting products, so that consumers can understand and understand the products they need. Through decentralization, users can be more proactive in getting close to insurance.

At present, China’s Internet insurance can be said to have entered a critical period. With the in-depth development of the industry, the traditional insurance has been continuously reformed, and the Internet insurance dividend has gradually disappeared, taking services and decentralizing the road. It is an inevitable trend. With the deep integration of technology and finance, the future of the Internet leaves us with unlimited possibilities.