The Internet has also begun to enter the era of stocks.
Editor’s note: This article is from WeChat public account “Huabao Tianxia” ( ID: insuranceforce), author Hui Bao Tianxia.
In the Internet era, words must be called traffic. How to realize traffic realization has become a compulsory course for all major platforms. Advertising and wealth management businesses have been involved in each other. With the improvement of people’s insurance awareness, the insurance business has gradually become a platform for major “heads and faces”. on.
From the early stage of offline insurance business directly to online sales, to scene insurance, financial insurance in the rise of Internet traffic platforms, and now some Internet platforms began to try to sell long-term complex health insurance, life insurance, annuity insurance Business, Internet insurance business is constantly evolving, and the difficulty of transformation is deepening.
The logic behind it is that as the Internet traffic dividends derived from China’s demographic dividends gradually disappear, the past era of targeting a field, the era of staking, simple and rude development is gone. The Internet industry has also begun to enter the era of stocks, and it is necessary to further tap precise traffic in the flood flow, and to dig deeper and seek deeper flow of cash.
After selling simple wealth management products, including stocks, funds and wealth management insurance, the final step of the Internet platform sales must be long-term value-based insurance products. Although such products are difficult to convert and have low frequency, the unit price is high. High profit margins are more valuable for both the platform and the insurance company.
Under this logic, you can see that both the pan-flow platform and the precision traffic platform have begun to exert their strength on long-term value-based insurance products.
*incomplete statistics
01The pan-flow bonus peaks and turns to deep work
In the past 20 years, with the gradual release of China’s demographic dividend, China’s Internet industry has flourished, and a large number of various Internet platforms have emerged. Many of these platforms will be based on the demand for traffic realization. Sales insurance is an important business layout. Take several more common Internet platforms as an example:
Content Platform
This type of platform includes very earlyEstablished portals, including Netease, Sohu, Sina, etc. Although these portals have gradually become “traditional industries” with the popularity of mobile Internet, they are still not to be underestimated in the market. Existence; also includes relatively subdivided Oriental wealth, straight flush, etc., mainly for investors; of course, it also includes new content aggregation platforms such as today’s headlines that have emerged in recent years.
Baidu, Sogou, etc. as a search engine, can also be classified as a content class platform.
It can be seen that this type of Internet platform is almost the first to test Internet insurance. For example, Sina and Netease, as the earliest Internet companies established in China, have long tried to rely on their own traffic to sell insurance. Sina has already won Insurance intermediary licenses; Oriental Fortune, Flush, etc. as a content platform for investors, have also won the insurance intermediary license; today’s headlines for the insurance business also poured a lot of enthusiasm, in 2018 became a single shareholder of China Insurance Brokers, insurance The platform is online.
In the search engine, Baidu also has a lot of enthusiasm in the insurance field. It has tried to establish an Internet insurance company called “Baian Insurance” through the cooperation with Allianz Insurance and Gaochun Capital. After the unsuccessful results, in September 2017, it also started an insurance brokerage license through its wholly-owned subsidiary Baidu Pengyi Asset Management (Beijing) Co., Ltd. – Heilongjiang Lianbao Longjiang Insurance Broker Co., Ltd.
Social platform
The social platform represented by WeChat and Weibo has risen in the era of mobile Internet, and has become the most active social network platform for domestic users. In the process of realizing traffic, insurance products such as insurance are also one of the important breakthroughs.
Among them, WeChat, which has a strong payment function, is particularly active. Tencent behind WeChat has been involved in several insurance companies and insurance intermediaries, including two intermediary licenses, micro-insurance agents, Tenno insurance brokers; three insurances Company, Zhongan Insurance, Hetai Life Insurance, Hong Kong Yingjiehua Life Insurance.
Public information shows that as of June 2019, the micro-protection program has reached 29 million monthly users.
E-commerce platform
Compared to content platforms and social platforms, e-commerce platforms naturally have distinct sales attributes, and sales insurance is more appropriate. Among them, relying on Taobao and Tmall’s Ant Financial Service is second to none. In addition to its shareholding in Zhong An Insurance, it also invested in Cathay Insurance and Xinmei Mutual. In addition, it also holds an insurance intermediary license – Ant Insurance Insurance Agency Co., Ltd.
The public information said that the Ant Financial Insurance Service Platform was established in 2015, and its insurance business team has more than 200 people. As of the end of last year, users have obtained nearly 20 billion insurance coverage through the Ant Financial Insurance Platform, and over 4 billion online claims have been made.In-depth cooperation with more than 100 insurance institutions.
Jingdong, which sells 3C products, sells clothing that is known for its longevity, and goes online from Suning, Gome, etc. After collecting a considerable amount of traffic, it also targets insurance. Many of them have already obtained insurance licenses.
The beauty group that started from group buying, and the main attack and sinking market have attracted a lot of eyeballs in recent years. It has become a rising star in the Internet platform and has begun to seek liquidity. Among them, the US group has begun to get involved in insurance.
Other classes
Other types of Internet platforms have been developed, and their traffic has been considerable. For example, 360 started with anti-virus software, WI-FI universal key to provide Internet access, Lenovo started from computer sales, and started with hardware mobile phones. Xiaomi and the drip of the fire in recent years, Mobai and so on.
These platforms are now beginning to gradually extend their reach into the insurance arena. For example, 360 launched the insurance platform as early as November 2014. Xiaomi has also obtained the insurance intermediary license. After withdrawing from Anhua Agricultural Insurance, Lenovo decided to join hands in the modern property insurance.
Although many pan-traffic platforms use insurance as an important business in the process of seeking traffic, different platforms have significantly different performances in insurance business development due to different attributes.
BATJ and other veteran traffic giants and TMD and other traffic sneakers, because of the strong drainage capacity in the insurance business, all the way, experienced almost every stage of Internet insurance development.
For these general-purpose traffic platforms, in the early stages of the insurance business, they will tend to sell standardized products that are “short and fast”, including accident insurance, wealth management and so on.
These large traffic platforms have a large amount of traffic, but because of the large span of users, it is difficult to achieve precise stratification at first. However, with the development of Internet technology, the amount of data accumulated by traffic giants has gradually increased. It can be easily classified and classified according to user behavior and tags, which lays the foundation for accurate development and sales insurance. Fragmented scene insurance came into being, but due to excessive fragmentation and low unit price, its impact on the market as a whole is limited, and the contribution to the value of the insurance company is also very low.
As the Internet flooding bonus peaks, the idea of a pan-traffic platform operating insurance business is beginning to change. Starting to move to a more difficult long-term value insurance business, including mid- and long-term health insurance, life insurance, and annuity. Insurance and so on.
Another significant trend in the insurance business of the pan-traffic platform is that due to its platform’s ability to integrate resources, the financial strengthStrong, coupled with abundant traffic, has a strong premium ability, can connect all service resources, and build a complete service closed loop.
For example, Tencent, in the context of layout insurance, trying to solve the problem of medical payment, there are also many layouts in the medical field, health management field and even the aged care field. The ability to integrate such resources is clearly not available on the general Internet platform, and insurance companies will be more passive when working with such platforms.
02The value of precision traffic platforms is favored, and how to increase conversion rate is a problem
When the bonus of the general traffic has passed, the value of the precise traffic begins to be more explored. While the pan-traffic giants began to dig deep into their own opportunities, some Internet platforms in vertical segments have also begun to emerge. Due to the clear labeling of users on these platforms and the relatively concentrated demand for insurance, they have begun to attract the attention of many insurance companies.
Travel platform
12306 is the only regular ticketing platform for the railway company. The traffic collected by it is quite accurate. It is a person with clear travel demand. The traffic accident insurance that aims to provide risk protection for travel is of course the largest sales. In order to meet the risk protection needs of this, the railway head company even established the China Railway Property Insurance Self-protection Co., Ltd. in 2015.
There are many tourist OTA websites similar to 12306, including Ctrip, where to go, Tongcheng, Tuniu, Tujia, etc., all of which are closely related to travel and accommodation. The best scenarios of insurance, including aviation insurance, flight insurance, accident insurance, etc., and these platforms are also interested in operating insurance business, of which Ctrip is therefore profitable.
Mother and baby platform
American pomelo and baby tree, the platform for such prospective parents is highly focused, and is in the most intense stage of risk protection awareness in life, and has strong insurance for long-term value insurance business such as health insurance. Demand is of great significance to insurance companies.
And such platforms have begun to take note of the value of the insurance business. You can see that there is a recommendation for the baby’s first insurance directly in the beauty pomelo service section.
Network Mutual Help Platform
Water droplets, easy financing, etc. As an emerging Internet platform, through the back-end sponsorship, it has encircled hundreds of millions of traffic, and this part of the traffic has aroused the pain of the surrounding people, and also paid attention to health issues, thus stimulating this. Some people’s demands for health protection are also accurate users for the insurance industry.
Vertical self-media
Self media can also be divided into multiple types, some of which have high development value for insurance companies. For example, some self-medias that focus on insurance consumer education, some self-medias that focus on travel, some self-media that focus on health knowledge, and so on.
For these platforms, the connection between their audience and insurance can be strong and weak, and it requires effective operations to complete user education and conversion. It is understood that the recent risk manager has launched a planetary power plan, and cooperate with many industry media and self-media to achieve traffic sharing through media content production and multi-channel publishing.
Compared with the pan-traffic platform, these Internet platforms that are perpendicular to a certain field appear to be somewhat “small and weak”. It is still possible to obtain insurance intermediary licenses, and the participating insurance companies are Often facing greater pressure. For them, the best way is undoubtedly to work with insurance companies and insurance intermediaries to convert users.
It is worth noting that due to the different platform attributes, the value of different platforms for insurance companies is also significantly different.
For example, the travel platform represented by 12306 and Ctrip, the insurance demand of users is very obvious, but tends to focus on accident insurance, delay insurance, etc. Some insurance types do not contribute much to the value of insurance companies. In particular, these platforms often take away most of their profits based on their own traffic advantages. For insurance companies, sometimes they can only make a profit.
In comparison, baby-trees, beauty pomelo and other maternal and child platforms are obviously more long-term value for insurance companies, but how to transform also tests the ability of insurance companies.
Some self-medias that are perpendicular to insurance consumer education, although their own traffic is small, but because they are very professional, they can often gather a group of loyal users, which is conducive to their long-term value insurance.
Although the Internet platform in the vertical segment often needs to stand in line with the Internet giant and become part of its ecosystem, the insurance opportunities in the vertical segment as a stand-alone platform for many insurance companies For the time being, there is still a certain bonus period. It can be seen that some insurance companies, intermediary companies and insurance technology companies have actually seized this opportunity.
For a large number of vertical field platforms, they do not have insurance sales qualifications. Even if they are licensed platforms, they are difficult to form a closed loop for the insurance and service insurance segments. They will choose insurance agents or Similar to the Internet-based insurance brokerage platform such as Risk Manager, it is empowered to provide online insurance solutions, including front-end operations, platform delivery, user tracking services and conversions, to provide closed-loop services to its platform users.
Although China’s traffic dividend is disappearing, ChinaThere are enough netizens, and the frequency of Internet access is high enough, and the stock market is huge enough. For all kinds of enterprises including insurance companies, the key is to accurately find their target customers.
Insurance is not a massive traffic business. Although some general-purpose traffic platforms have massive traffic support, they are limited by factors such as low customer unit price and low conversion rate. If they only stay in the shallow sales, the insurance business will It may not be a long-term good business. These platforms require big waves to scouring out targeted customers through layered funnels. The precision traffic platform comes with this attribute, which has a higher value for insurance marketing conversion.