Car network large data support to reduce the rate of pay together auto insurance into the 2.0 era?

"Vehicle interconnection insurance needs a relaxed development environment, the CIRC should be well regulated and should not be allowed to open up, and encourage the insurance companies to cooperate with the technology companies." August 20, Zhou Yanli, vice chairman of the CIRC, said at a seminar on vehicle networking insurance organised by the China Insurance Institute.

At present, the Internet insurance, including car networking business is in the initial stage of development, has not formed a stable operating mode. In this regard, Zhou Yanli that the relatively dynamic regulatory standards should be implemented. The insurance company should take the consumer's supportability demand as the focal point, cannot blindly develop the Bo eyeball, the ridicule nature risk kind. For this type of insurance products, the regulator "should be shot, the call to call a halt."

Vehicle networking is the future development direction of urban Intelligent transportation and automobile industry. With the help of the networked vehicle, the car becomes the intelligent node in the Internet, connecting the car, the road environment and the driver. On this basis, the development of vehicle Network insurance, comprehensive analysis of human, car, driving behavior and other risk factors, improve the insurance pricing technology and underwriting policy, improve the ability to accurately pricing.

2014, Tencent, Alibaba and other IT enterprises have increased the field of vehicle networking research and infiltration, the introduction of the corresponding car networking products. At present, insurance industry in the PICC property, the state-life, safety, insurance, Pacific production insurance companies have also tried to network. From 2005 just simple car navigation, to today's booming, 2014 or will be regarded as China's car networking development of the year, and auto insurance will enter the 2.0 era.

Car Networking Insurance Initial dew point

Chinese car users have increased from 50,000 in 2005 to 500,000 now. According to industry forecasts, 2015 will reach 10 million users. By the time it reaches 10 million, it will account for 10% of the total number of cars.

By the end of 2013, the number of civilian vehicles in China was 137 million, with 251 million vehicles. Industry-wide total underwriting car 120 million vehicles, car insurance rate from 2007 to 64.4% increase to 87.34%, insured motor vehicles 147 million, motor vehicle insurance rate from 2007 38.7% to 58.62%. The proportion of insurance premiums to the whole property insured is 72.6%.

At the same time, China Insurance Regulatory Commission to start a new round of commercial car insurance clause rate reform, the basic direction of reform is to improve the scientific and meticulous management level. According to the scheme now disclosed, the insurance pricing base will be changed from the insurance price to the model price, especially the car maintenance cost will be tied with the model.

In the future, with the continuous development of user needs, will pay more attention to the actual driving situation and driving behavior, and may be the final pricing base. All of this depends on the data support of the vehicle network.

PICC Insurance is currently from the fleet business and personal business two areas at the same time to promote the pilot network of vehicles. PICC Insurance Department general manager Lu Hui revealed that the team business has completed the corresponding technical solutions, and began to promote. For example, in a fleet of 180 vehicles, 50 vehicles were fitted with on-board equipment, and the entire fleet was reduced from 129% to 90%, while the actual payment rate for 50 vehicles was only 60% per cent. From this set of data can be seen in the car equipment on the driver's constraint is very obvious, On the other hand, the insurance company can effectively control the risk of the team and carry out a reasonable car insurance pricing.

In personal business, PICC will undergo four stages: the first stage is the selection of technology, that is, the selection of front-end equipment, focusing on the communication stability of vehicle equipment, vehicle adaptability and so on; the second stage is model testing, such as the completion of 200 car-loading tests in the Beijing area at the end of last year; That is to carry out 15000 mid-term tests in five cities nationwide, further improve the technical model, verify the business model, and finally the comprehensive promotion stage.

The pain is hard to find?

Insurance net of the implementation of the landing, first of all, it is necessary to have a vehicle terminal connected with Beidou system or GPS to carry out real-time and effective positioning and data transmission; Secondly, the company establishes the computing platform of Cloud service, and analyzes the front-end data collection and relevant information. Finally, customers receive analysis results through smartphone applications, such as vehicle running status (real-time road conditions, locating vehicles, track playback, etc.), driving behavior records (rapid acceleration, sharp turn, speeding, etc.), security monitoring (illegal start-up, bumps, collisions, etc.), statistical reports (fuel consumption, mileage, violations, etc.).

It can be said that car networking is one of the most promising applications of large data in the insurance industry. Through data collection on the risk factors of people, cars and driving behavior, the network can be used to improve the pricing and underwriting policy of car insurance, to enhance the precision pricing ability, to create tailor-made risk solutions and insurance products for customers, and to improve the risk control ability of insurance companies. Effectively reduce the incidence of accidents and related claims costs.

"But in terms of business models, insurers have not yet found the user's pain point," he said. "Lu Hui that now the car networking products have not formed a" killer "application, can allow customers to voluntarily pay for use, so it is not really to the market.

At present, there are thousands of companies engaged in vehicle networking development, the corresponding technology solutions to shield each other, can not do information sharing, hardware and software also lacks a unified standard, so the customer driving behavior analysis model is still in the initial stage of construction. Yiu Qinghai, President of the Institute of Insurance, said that the institute will be set up under the Science and Technology Innovation Branch for the technology company and insurance companies to build an interactive platform, will also promote a unified vehicle networking data standards.

From the insurance product side, the car insurance rate market is on the ground, companies are also considering the direction of the future products. The frequency of front-end data acquisition and the standard of collection, as well as how to build a more feasible and customer-convincing behavior model on this basis, also need to be explored constantly.

In addition, the Customer information privacy protection controversy has been accompanied by the development of car networking. In this respect, Zhou Yanli said that insurance companies to ensure customer information management, resolutely prohibit the abuse of customer information, disclosure, trading. The regulatory body should make the rules of disclosure of insurance information, maintain the security of network information, and deal with the relationship between public transparency and privacy protection.

(Responsible editor: Lvguang)