At present, insurance agents not only move their usual offline training online, but also Internet insurance enterprises move out robots to assist in online customer acquisition and underwriting.
Huise insurance, an Internet insurance e-commerce platform just listed on Nasdaq, plans to raise $55.12 million, mainly for investment in technology and big data, so as to further improve customer acquisition efficiency and risk management ability.
In the interview, in addition to Huize, Zhongan online, Weibo, ant insurance and other platforms have made efforts to increase traffic with the help of science and technology.
At present, the insurance industry is experiencing a “special” marketing season. Internet insurance benefits from mature online resources and the full opening of green channels, which not only quickly provides protection for front-line medical staff, but also provides convenient services such as online purchase and online claim settlement for consumers living at home. In the interview, the reporter learned that the AI technology of Internet insurance companies such as ant insurance, Zhong’an online, huise insurance and Weibo have been “assisted” one after another.
“At present, 85% of online customer service sessions are handled by online intelligent robots.” Zhong’an online said that by using the insurance application Zhongtai, the product launch time of insurance enterprises can be greatly reduced by 60%. At the same time, it also solves a series of problems faced by insurance enterprises, such as high customer acquisition cost, weak data analysis ability and low conversion rate.
Huize insurance also said that in the future, Huize will provide users with one-stop professional and efficient insurance services by using the power of the Internet and technology around the services to meet the needs of users for all-round risk protection in the whole life cycle of their families.
Home economy is Internet insurance
Bring new traffic
“In the housing economy, in fact, it has brought new traffic to many Internet insurance enterprises.” An Internet insurance staff told reporters.
In the interview, wechat revealed that the number of visits to online services has increased significantly over this period of time. Under the epidemic, people pay more attention to health, medical treatment and security. The power car of science and technology has become a connector to connect insurance companies with front-line medical workers, small businesses and every ordinary person.
Online mutual aid programs like waterdrop insurance are also favored by capital. Among them, the flow advantage is the most valued.
In addition to the new traffic, the income of Internet insurance companies has attracted much attention. According to the prospectus of huise insurance, the Commission generated by selling insurance products underwritten by insurance partners through the platform accounted for 95.5% and 99.0% of the total revenue in 2017 and 2018 respectively, and 99.1% in the first nine months of 2019.
What about China’s first Internet insurance enterprise? Zhong’an online announcement listed in Hong Kong shows that the original insurance premium income obtained in 2019 was about 14.635 billion yuan, a year-on-year increase of 30.40%.
For the profit and loss situation, the underwriting profit of Internet insurance enterprises mainly depends on two indicators: compensation expenditure and expense expenditure. Compared with channel expenses, the business management fee dominated by technical service fee is an investment that Internet insurance companies have to pay.
Breakthrough depends on characteristic products
And convenience services
“When the traditional channels are blocked, the Internet channels win the opportunity of turning corners.” Huachuang Securities said that the integration of short-term insurance and the Internet has formed a better operation mode, and one million yuan medical treatment is a good example, but the integration of traditional long-term life insurance and the Internet is still in its infancy.
The reporter learned that, in addition to Internet insurance, other insurance companies have also launched online services, and most of the company’s apps only support online insurance of short-term insurance and simple products. It will take time to establish the module of the main serious illness products. According to the analysis of insiders, two aspects may lead Internet insurance out of the new “spring”. On the one hand, it is to develop insurance products with internet characteristics such as “return freight insurance” to extend the insurance demand. On the other hand, it is to bring real convenience to consumers and improve customer stickiness with the help of financial technology and consumption scenarios. At present, many enterprises have taken new steps in innovating services with the power of science and technology.
Insiders predict that under the general trend of separation of production and marketing of insurance in China, the division of labor between insurance companies and insurance platforms will be more and more detailed in the future, and the Internet insurance platform is expected to form an entry-level platform in the next three to five years.
74 insurance companies provide about 9 trillion yuan of insurance protection for medical staff
On the morning of February 15, Liang Tao, vice chairman of the China Banking and Insurance Regulatory Commission, revealed at the press conference of the joint prevention and control mechanism of the State Council in response to the COVID-19 that, according to preliminary statistics, 35 life insurance companies have expanded the liability scope of accident insurance and disease insurance of more than 400 to cover the compensation for death, disability and serious illness caused by COVID-19 without increasing the premium. In addition, 74 insurance companies gave accident insurance, term life insurance and other insurance guarantees to medical staff, family members and disease control personnel fighting the epidemic, with a total insurance amount of about 9 trillion yuan. In addition, the reporter learned that in addition to medical personnel, insurance coverage also covers R & D personnel.
The reporter noted that most of the products that expand the scope of responsibility are set to April 30, and a few products are slightly extended.