It has grown more than 20 times in half a year, with a monthly compound growth rate of more than 60%.
It is learned that “Water Drop Insurance Mall” announced today. As of November 25, the platform’s single-month long-term insurance The new single annual premiums exceeded 100 million yuan, a new record for the water drop insurance platform.
The insurance market has been developed for many years. At present, there are roughly three types of players who can participate. Insurance companies, insurance intermediaries, and part-time platforms. Part-time platforms include Internet platforms with traffic. In recent years, with the changes in the population and habits of insurance purchasers, and the growing awareness of health, third-party Internet platforms have developed rapidly.
However, from the perspective of insurance products sold on the Internet platform, the general development path is to cut into the market from insurance products with low unit prices and low decision-making costs. Nowadays, various companies have started to develop long-term insurance. work hard. Long-term insurance generally refers to insurance with a contract term of more than one year. The overall premium amount is large and the purchase decision is heavy. It has always been a difficult point for Internet insurance sales.
Take the Drip Insurance Mall as an example. After two years of short-term product development, the platform Data shows that 90% of users complete their first online insurance purchase and repurchase through the Drip Insurance Mall. Willingness reached 73%.
Since May of this year, the water drop insurance mall has been testing long-term insurance sales. The monthly insurance premium for the month is about 6 million. In July this year, Water Drop introduced Li Jia, the former deputy general manager of MetLife, and began to focus on the long-term insurance business. The team and business accelerated the development. As of November 25, the month of the water drop insurance mall The annual insurance premiums of the insurance company have exceeded 100 million yuan, increasing by more than 20 times within half a year, and the monthly compound growth rate has exceeded 60%.
The data disclosed by Drip Insurance Mall shows that, based on the amount and province statistics, the top three customers who purchase long-term insurance are Sichuan, Henan, and Hubei Province in order. Among them, more than 90% of the long-term insurance users have previously used Drip Insurance Mall. Have bought insurance products; 70% of long-term insurance users are young people, and the average person purchases 1.2 orders, which means that family-type consumption has become the main force of insurance consumption. From the perspective of the coverage period, more than 90% of users choose the coverage period to be over 60 years old, over 70 years old, and for life.
Yang Guang, a partner of Water Drop and general manager of Water Drop Insurance Mall, said that the development of long-term insurance products is the basis for the long-term healthy development of Internet insurance companies. With the cultivation of the insurance market, users’ awareness of insuranceAwakening and strengthening, the overall proportion of long-term insurance products in the Internet insurance market will further increase. With the rise of the post-90s user community and the deepening of the “insurance is protection” awareness, long-term protection products will increasingly become the “standard” choice for users.