Network Insurance has great potential

Absrtact: Xiang recently pointed out that the Internet on the insurance business model will have a relatively large impact, credit data and data assets to cause the industry to pay enough attention to ⊙ reporter Lu Xiaoping 0 editor Maple Ma's "Balance Treasure" and other financial industry every corner

Xiang recently pointed out that the Internet on the insurance business model will have a greater impact on the credit data and data securitization to cause the industry to pay enough attention

⊙ journalist Lu Xiaoping 0 Edit Maple Grove

Ma's "Balance treasure" and so stirred the financial industry every corner, the encounter first out of the banking industry, the traditional bank of the big guy by the internet financial crash. And the insurance industry is facing a new consumption pattern challenge. Ma, MA, Horse Partnership set up the first domestic internet insurance companies to sell insurance involved in internet finance, aggravating the insurance market.

"The Internet will have a greater impact on the business model of the insurance industry, and credit data and data securitization should be paid enough attention." The chairman of the CIRC, Xiang, recently pointed out at the 2013 Bureau-level leading cadre training course of China Insurance Regulatory Commission.

Network Insurance has great potential

The general trend of China's third party payment in the total retail sales of consumer goods in the penetration rate is increasing year. In the first half of 2013, China's third party payment business (the sum of online and offline transactions) reached 6.91 trillion, according to the latest issue of the semi-annual study report (2013H1) of the third party payment industry. Among them, the mobile payment transaction scale is about 99.34 billion yuan, the same period social consumer goods retail total amount is 11.076 trillion yuan.

Some emerging small and medium-sized insurance companies, with the help of Low-cost network platform to start quickly, the Internet is rewriting the original pattern of insurance. For example, last December, Guohua life in Taobao cost-effective sales platform launched 3 products, a short 3 days sales on the breakthrough of 100 million yuan, the popularity of the industry stunned and envy.

More noteworthy is that the insurance industry boasts 3 million of the marketing Army, the rise of Internet insurance will test the ups and downs of this team. The Insurance Regulatory Commission issued a 2012-year market Development report, said that last year, the national PICC through the marketing staff to achieve a year-on-year decline in premiums 3.9%, one reason is the insurance company electric sales, network sales and other emerging channels of direct business growth, resulting in the marketing staff business continued to shrink.

A person attending the 2013 Bureau of the main cadre training course, the Chairman of the meeting to remind everyone, the huge internet population and the rapid popularization of internet consumption habits, so that the internet has become an insurance industry can not ignore the important sales channels, network insurance potential is great. "We must have forward-looking arrangements, or else we will be caught unawares".

Major disease insurance and other pilot policies should be pushed to the ground

However, the Internet is only one aspect of the macro environment that affects the insurance industry. Xiang also said that the international economic and financial situation is mixed, China's economic development situation overall good, but the short-term downward pressure increased. Financial deepening, urbanization and other institutional factors not only provide the industry to expand service areas, improve the competitiveness of the favorable conditions, but also to the development of the industry to bring new complex situation. The influence of population factors is profound, the change of population structure leads to the increase of labor cost and the change of insurance demand, the aging brings new opportunity for the development of industry.

In view of the industry situation, Xiang stressed that from three levels to grasp the stability of the into, into the worry, worry in the bottom. The so-called "stability" is mainly the market run relatively smooth, in recent two years, the trend of continuous decline in business growth has been reversed; "Jin" mainly manifested in the new bright spots in the market operation, risk prevention to obtain new results, service economic and social present a new situation, insurance supervision to achieve a new breakthrough, "worry" is in the industry development, risk prevention , insurance supervision and other aspects need to be further strengthened; "bottom" of the confidence mainly from the economic and social development to the good fundamentals have not changed, the insurance industry continued to maintain the rapid development of the fundamental unchanged, the great development potential of the insurance industry pattern has not changed.

On the second half of the supervision work, Xiang stressed four: one to grasp the service, focus on the sale of misleading and difficult to deal with the claims, improve product supervision system, standardize the minimum service standards, and improve the system of punishment. Second, strict supervision, the key rectification and maintenance of the insurance market order, continue to do a good job on-site inspection, strict punishment in accordance with the law, strengthen accountability. Third, to prevent risks, the focus is to prevent the use of funds, inadequate solvency and other risks. To promote development, the focus is to promote urban and rural residents of the major disease insurance, Shanghai tax-deferred pension, agricultural insurance regulations, catastrophe insurance policies such as pilot or landing.