China's insurance sales model is brewing new changes

From 20 ago "handbag + bicycle", to the current "Internet + Mobile Terminal", China's insurance sales model is brewing new changes. The advent of the Internet, the great data age, has revolutionized the financial industry, and the insurance industry is no exception.

2012, "Three horse selling insurance" accelerated the insurance institutions to enter E-commerce, this year, many insurance companies have put forward the construction of electricity business channel plans.

"We will do business on the Internet. "PICC Life insurance President Li Liangwin recently to the" First financial daily "reporter said, and Xinhua Insurance announced that will invest 100 million yuan, since the construction of the electric Business Company.

"For insurance companies, the Internet as a new sales channels, not related to products, processes, service models deeply touched by the ' insurance Internet ', this is the first phase of the development of insurance e-commerce." "An insurance company senior E-commerce person to our correspondent said," and the emphasis on internet technology and insurance core business in-depth integration of ' Internet insurance ' is the development of insurance e-commerce strategic objectives. ”

Multi-mode Preparation

Statistics show that the insurance industry in 2012, including net sales, electricity sales, including the new channel premium income has been more than 70 billion yuan. There are consulting companies that 2016 domestic insurance e-commerce Market Premium income scale will sprint 60 billion yuan, the next decade in the market coverage of insurance premiums will break through billions of dollars. Faced with the future of hundreds of billions of market size, insurance agencies, insurance agents and third-party e-commerce companies to speed up the pace of the market of insurance electricity.

A large life insurance company in charge of E-commerce analysis, the current dozens of companies have put into the network sales business, there are two main reasons: First, the internet marketing in the traditional industry has been considered a successful model, insurance as a virtual product is very suitable for the network sales; And there is no better model for growth, so risk companies are turning to net sales.

At present, the insurance company "enters" the electronic commerce mainly has two kinds of modes: one is the establishment of the website sales, including the official website and the separate network with the net sales platform, such as China Ping ' An, China's Tai Bao, the land insurance and so on are established with the common official website of the network sales platform; Mainly including through the Third-party platform sales and search for online third-party insurance agencies to sell.

At the beginning of 2012, nine enterprises, including the Beijing Big Boy Insurance brokerage company, Shenzhen Hui-optional insurance brokerage company and Pan-China century insurance sales company, became the first batch of insurance brokers approved by the CIRC. After that, Taobao and Jingdong to create the insurance channel, attracted the peace, PICC, Taikang, Taiping Insurance, Kunlun Health insurance and other insurance companies "settled". And the public security of the online insurance was approved to further promote the security and e-commerce deep integration.

It is noteworthy that Taobao's purchase platform has been unusually prosperous since last year. The data from an insurance net-selling technology show that the sale of Taobao's financial insurance products has reached 241 million yuan by the beginning of this year to June 3. According to the public data, Taobao in 2012 to achieve insurance premium income close to 1 billion yuan, this figure has exceeded 2012 years of 20 small life Insurance company annual premium income.

One side is the hot sale of the third party platform, the other side is the insurance company itself "to take Taiwan opera", and actively build a network sales platform. Our reporter check found that more than 40 insurance companies in its official network with online shopping malls, can realize the direct purchase of the official website, of which more than 10 of the insurance company can realize the official car insurance website Direct insurance. For the first level of policy information inquiries and insurance card activation functions, almost every insurance company's official website can be achieved.

Taking the present experimental complex product as an example, it has been able to realize the complete online insurance process of complex life insurance products, including product information display, customer insurance information filling, health notification, online underwriting, payment, billing, receipt confirmation.

Channel constraints

The gradual entry of Internet insurance from the network has become a consensus of the industry, but comprehensive consideration of costs, control rights and related factors, large risk enterprises tend to build network sales channels or rely on the official website, while the small and medium-sized insurance companies choose first "borrow Force" third party.

Swiss reinsurance China Business Development Vice President Xiang Yaohua Analysis: "Through the establishment of website sales, insurance companies can be marketing methods, product design, price and so have full control." But the disadvantage is that the insurance companies need to adopt effective marketing strategy and cooperate with a large number of marketing inputs, so as to achieve the consumer eye and access to the flow of the purpose of attracting the site. Cooperation with the third party platform is a faster way to get the target customer base, of course, the disadvantage is that it will lose a certain sales control rights. ”

Hoshowa, a research fellow in the financial sector of CIC, also believes that both models have their merits. Self-built website sales insurance products are conducive to better maintain the image, close to the consumer, but the site's construction, maintenance, marketing, customer training and other enterprises need to pay greater capital and energy. Third-party network platform Direct sales can use each other's platform advantages, using the platform's ability to meet and traffic fast to achieve marketing.

"When sales and traditional marketing channels atrophy, the Internet is an insurance company can open up a new channel." An insurance analyst said to the reporter analysis.

Data show that the 2012 China Life Insurance Channel to achieve the premium income of 128.86 billion yuan, down 10.7%; China's Tai Bao-Yin channel to achieve the scale of the premium income of 34.54 billion yuan, down 22.3%; Xinhua Insurance Bank Guarantee Channel to achieve the premium income 52.16 billion yuan, down 8%. The biggest drop is ping an life, the bank insurance channel to achieve the scale of the income of 13.62 billion yuan, down 28% year-on-year.

The head of E-commerce department said: "Channels can never replace the official website, large insurance companies are expected to have their own official website, and bigger and stronger, and small companies because of their own website brand, flow and other issues, the choice of channels is helpless." At present, the choice of Third-party platform cooperation with its huge flow of insurance sales driven role. ”

Some sales platforms are growing too fast, according to a third party source, an insurer. To the current Taobao gather cost-effective sales of a hot product for example, its 3-month-old return rate of 4.6% of the slogan, and to carry out the purchase of 1000 yuan to give 1000 sets of treasure or 1700 collection of treasure activities, in accordance with 100 sets of treasure reduced to 1 yuan cash calculation, equivalent to indirect increase insurance company 1%~2% Sales costs.

The difficulty of wind control, profit and settlement

"Now some of the financial products are basically capital preservation insurance benefits category." Said Ping an comprehensive sales channel.

"How to control the investment risk?" financial insurance products 1000 yuan threshold of financial insurance products, 30-day expected annual rate of return in 3.5%~4.8%, which is currently difficult to compare banking products, and the bank's banking threshold of more than 50,000 yuan. "A banker has challenged insurance companies to sell financial products in third party e-commerce platforms," he said.

In fact, for some financial insurance "low threshold, high yield", the market for its risk control of the long-standing question.

According to our correspondent carding, the current net sales of products in addition to car insurance, mainly some simple accident insurance, health insurance, microfinance products, complex life insurance, health insurance, medical insurance and other products in the small scope of the pilot. Sub-platform, Day Cat Mall on the financial management products more, short-term, and some products investment threshold of only 500 yuan, 1000 yuan; Jingdong Mall's insurance products are car insurance, accident insurance, health insurance mainly, in addition to travel insurance in the short term, the rest of the insurance type period of 1 years.

The above Ping An comprehensive sales channel people told our correspondent, currently through online direct sales of life insurance products accounted for very little, mainly sold to customers life insurance products also need to do safety and other links, now or to door-to-door service.

"Insurance E-commerce is still in the ' Make Yell ' stage, the profit prospects are hard to say." The insurance analyst also said that the insurance through E-commerce platform sales are currently based on simple products, profit margins are lower.

The risk of e-commerce in insurance, the above safety insurance comprehensive sales channel personage analysis, its risk manifests in two aspects, one is to the insurance company to have the security hidden danger, for instance the customer may provide some false health certificate and so on, may have the dispute with the insurance company; second, for individual customers, online marketing insurance, It may take more time and effort to buy a product that is not suitable for reinsurance.

"In the process of E-commerce development, regional regulation is a major problem." The internet is a trans-regional, which will bring problems to purchase, mainly for hospitalization and accident insurance and other types of insurance. An industry analyst said. In the network sales, electric sales surging, the insurance agencies through the network for off-site sale and subsequent claims are difficult.