The market space of Internet insurance includes two parts. The incremental part is the natural growth of the insurance market and the new insurance demand created by the Internet. The stock part is the substitution of internet insurance for traditional insurance channels. A large enough insurance market provides development space for internet insurance; In addition, every link in the insurance industry chain has room for improving efficiency and user experience.
The scale of premiums continues to grow.
China's insurance industry continues to develop rapidly. According to the Analysis Report on the Business Model and Investment Strategic Planning of Internet Insurance Industry issued by Prospective Industry Research Institute, the scale of premium income has increased from 388 billion yuan in 20 13 to 3 1 trillion yuan in 20 16, almost increasing by 10 times. In terms of growth rate, from 20 1 1, the year-on-year growth rate of premium income increased steadily, and the growth rate in 20 16 reached a new high since 2008, reaching 27.5%.
Nowadays, Internet insurance has become an important part of the insurance industry, and its market share is also expanding. In 20 15, the internet insurance premium income was 222.3 billion yuan, nearly 69 times higher than that in 20 1 1 year. 20 16 Internet insurance premium income in the first half of the year 143 1. 1 100 million yuan, of which the half-year personal insurance premium is close to the annual personal insurance premium of 20 15.
The number of institutions engaged in Internet insurance business is increasing year by year.
By the first half of 20 17, there were 129 domestic insurance institutions engaged in internet insurance business. Most traditional insurance companies carry out Internet insurance business through self-built websites or cooperation with third-party platforms, and all insurance companies have basically touched the Internet. Of the 9.5 billion new underwriting policies filed by China Insurance Regulatory Commission in 20 16, about 65% were sold on the Internet. By March of 20 16, the number of people insured on the Internet had exceeded 330 million.
The types of internet insurance have changed obviously.
In terms of the insurance structure of internet insurance, there has been an obvious trend of change. One is the transition from property insurance to life insurance. In 20 13 years, the proportion of middle-class life insurance in internet insurance was 8:2, and after 20 16 years, it became 2:8. The thing is to gradually change from standardized insurance to non-standardized insurance. The products that have been sold online are mainly auto insurance, accident insurance and other types of products, but to
In 20 16, non-standardized insurance such as investment violation insurance, annuity insurance and universal insurance accounted for the vast majority of internet insurance premium income, and the proportion of annuity insurance and health insurance has been rising since 20 17.
The scale of internet premiums has continued to grow, and auto insurance has been greatly affected by policy adjustments in the past two years. Internet premium income reached 234.7 billion yuan, of which property insurance and personal insurance realized premium income of 40.3 billion yuan and 654.38+0945 billion yuan respectively, and the proportion of Internet personal insurance further increased to 83%. The overall Internet premium only increased by 5% year-on-year, and the penetration rate dropped from 9.2% in 20 16 to 7.6%, and the penetration rate in 20 17H 1 year was only 58%.
In the development of Internet insurance, the promotion of Internet giant companies is obvious.
In 20 13, Zhongan Insurance, a joint venture of Ali, Tencent and Ping An, obtained the first Internet insurance license in China. In recent years, Internet companies represented by Baidu, Ali, Tencent and JD.COM have been continuously deployed in the insurance field, especially Ali and its Ant Financial. Among them, Ali Holdings Cathay Property Insurance, Ant Baoyun and Jinbao Insurance were wholly established. Weimin Insurance held by Tencent was officially approved on 20 17 1 1, and Baidu officially completed the acquisition of Heilongjiang Lianbao Longjiang Insurance Company on this year 1. JD。 The pace of COM is relatively slow, and the internet property insurance company to be established on 20 15 has not taken any actual action so far. However, Liu stressed that he will definitely be insured at the opening ceremony of 20 17, and he is applying for an insurance license, and does not rule out the way of investment and purchase.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.