Recently, the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Housing and Urban-Rural Development, the Ministry of Commerce, the General Administration of Market Supervision, the State Administration of Taxation and the Zhongzhi Administration jointly issued the Implementation Plan for Promoting Green Consumption, proposing to encourage the development of new energy automobile insurance products and encourage insurance companies to provide insurance protection for green buildings. The above plan will further increase the number of new energy vehicles, help the "double carbon" goal, and help the incremental market development of new energy auto insurance.
According to the New Energy Vehicle Industry Development Plan (202 1-2035), by 2025, the sales of new energy vehicles will reach about 20% of the total sales of new vehicles. The prospect is full of hope and the process is full of challenges.
Short term pain point
In February last year, 65438, China Insurance Association officially issued the Exclusive Terms of Commercial Insurance for New Energy Vehicles (Trial). After that, Shanghai Insurance Exchange launched a new energy auto insurance trading platform, and PICC P&C Insurance, Ping An Property Insurance, Taibao Property Insurance and other 12 property insurance companies listed the first batch of exclusive insurance products for new energy vehicles. Since then, news about the rise of exclusive new auto insurance premiums has continued. Tesla bears the brunt, and some local new energy brands have also suffered a premium increase.
New energy auto insurance in payout ratio is also higher. According to the data of China Yin Baoxin, from 20 16 to the first half of 2020, the overall accident frequency of new energy vehicles is 3.6% higher than that of non-new energy vehicles, and the accident rate of domestic new energy vehicles is 9.3% higher than that of non-new energy vehicles.
Because of the above reasons, there are some anxieties in the industry, and the industry is a little confused about how to develop insurance products. But the above pain points are short-term pains, and there is no solution.
Break the suggestion
The new energy auto insurance business puts forward higher requirements for insurance companies in terms of risk judgment, product design and pricing standards. The technical route of new energy vehicles is different, and its technical iteration, data circulation, subsequent maintenance network and even vehicle residual value management are more complicated. Fortunately, most new energy vehicle companies have the natural advantages of data, online and intelligence. On the basis of full data interconnection, they can help insurance companies accumulate more pricing factors and pricing models and develop more applicable products.
For this reason, insurance companies must speed up the design of R&D and new products, so as to accumulate empirical data more quickly and continuously improve products and services. Whether they can take the lead in completing the accumulation of data assets will test the strategic vision of insurance companies.
There are also ways to solve the contradiction between the high growth of new energy auto insurance market and high payout ratio: first, through the construction of digital claims system and the application of claims data, new energy auto companies and insurance companies can establish transparent closed-loop solutions; Secondly, with the help of driving behavior data and intelligent assisted driving, we can explore effective ways to reduce the accident rate and payout ratio. Thirdly, the payout ratio can be effectively reduced through the self-operated maintenance network and joining maintenance network of new energy automobile enterprises, as well as standardized parts management and logistics.
In the short term, the new energy auto insurance business will focus on head insurance companies. However, with the help of third-party platform technology empowerment, small and medium-sized insurance companies are also expected to strengthen cooperation with new energy vehicle companies and achieve breakthroughs.
Insurance companies' willingness to underwrite has improved their underwriting ability, which is also good news for the new forces that build cars. Leverage insurance technology companies to promote product development and innovation through ecological innovation and achieve a win-win situation in the industry. The high-quality development of new energy auto insurance depends on the reshaping of new industry ecology.
Reshape the ecology
In the past, the automobile sales terminal was mainly controlled by dealers, and the dealer channel was the most important sales channel for auto insurance, which was particularly prominent in the sales scene of new car auto insurance.
Under the direct mode of new energy automobile enterprises, the just-needed property of automobile insurance can help automobile enterprises to establish connections with users in various scenarios such as insurance, insurance, renewal, maintenance and claim settlement. New energy auto insurance is the "golden thread" for car companies to directly connect car owners and users. Auto insurance has become a super entrance for car companies to control the owner's service and reshape the relationship between them, from sales to user life cycle management. This will greatly enhance users' sense of acquisition and belonging, and build a closed-loop service centered on users, and the supremacy of users is to penetrate the survival laws of various industries.
However, car companies engaged in auto insurance also face problems such as high research and development cost of auto insurance system, difficult docking of insurance companies, long construction period of claims service, and difficulty in obtaining business qualification licenses. At the same time, the main battlefield of car companies is in full swing, and homes cannot be lost. Facing the opportunity of new energy auto insurance, we are often overwhelmed. Therefore, relying on the new energy auto insurance professional third party to quickly build industry barriers can win the opportunity in the future ecological competition.
On the whole, new energy auto insurance will surely usher in new development opportunities. Insurance companies and insurance technology companies should find ways to reshape the ecology. After solving the staged pain points, new energy auto insurance is bound to usher in a good development trend.