Hundreds of billions of online insurance markets are facing big data battles

The internet giants have been a frequent leader in the financial sector, and the insurance industry has not been exempt. Yesterday, Ali small micro and Allianz PICC signed a strategic agreement, the two sides will strengthen cooperation in the area of Internet insurance. This is Alibaba after the establishment of public security online insurance company again with the insurance company.

According to the Securities Times reporter understand, in response to the impact of internet finance, some small and medium-sized insurance companies are seeking to cooperate with the electrical business in depth, the large insurance companies are committed to build a platform for the self-electric business. No matter what mode to choose, how to better use the user's large data, is the key to compete for hundreds of billions of internet insurance market.

Insurance company Depth "NET"

The internet as a way to sell insurance, the primary "net" approach, has been unable to meet the appetite of insurance companies. To fight before the product, let the insurance more deeply embedded in the Internet financial ecology, the insurance company net deep power.

At the signing ceremony of the strategic cooperation between Ali and Allianz yesterday, Allianz deputy chief operating Officer Song Xuanbi stressed that this cooperation is an important node in the deepening e-commerce business of Allianz, "in the future, Allianz Insurance can not only meet the needs of the Internet users themselves, but also for the development of the Internet business and derived from the protection needs of the service, Research and development of more innovative insurance. ”

"The demand for protection derived from the Internet is a very large market." "The market includes credit insurance, liability insurance, and various insurance products that cover the risks of online transactions," said an insurer.

By Alibaba, China Ping An and Tencent jointly established by the Public Security online property insurance company, also aimed at the market, the new company will develop network property insurance, virtual property insurance and other varieties. According to Ali side revealed yesterday, the public Ann is currently in the planning of products and recruitment of talent and other work.

In addition, the Internet as a low-cost sales channels, insurance companies have to lay the strategic direction. At the recent 2013 China Internet Insurance Seminar, China's top Chinese insurer expects more than 30% of the insurance business to be implemented by the Internet over the next 10 years. Experts expect the insurance industry to reach more than 500 billion yuan in the Internet over the next 5 years.

Big data contention according to reporter understand, with the help of third party insurance platform NET, or set up the self-insurance Electric Company, is the insurance company Net two main mainstream mode.

In recent years, with Taobao, Beijing-east, Suning insurance platform on the line, many small and medium-sized insurance companies have entered and achieved a decent performance. 2012, Guohua Life Taobao official flagship store set a "Santian" sales performance, but also many small and medium-sized insurance companies to strengthen the confidence of the network. In 2012, with the 9 insurance intermediaries such as Beijing Big Boy Insurance and Shenzhen Hui-optional Insurance, the insurance network was approved by the CIRC and the third party insurance dealers also appeared.

However, in this mode, the insurance companies lack of user data control, difficult to grasp the sales initiative. "If the electric dealer helps to do the promotion, the product sales performance is very good, does not promote the sale to drop immediately." "said an insurer who declined to be named.

"Insurance companies need to strengthen their ability to analyze large data, understand consumer habits, tap into their insurance needs, develop new products and introduce differentiated services," he said. "Allianz Insurance related people in recent interviews with reporters said. The Allianz and Taobao strategic cooperation, Allianz hope that the opportunity to deepen e-commerce business.

With the help of the electric business platform to tap the customer's large data, the discovery of customer demand, is not only the dream of the insurance company, but also safe, PICC, Taikang and other large insurance companies for years without cost to continue to invest in the establishment of their own electric business platform, but the data from a single channel is Is another problem facing these companies.

"We are a pure ecommerce website. "Taiping Electric business related people to reporters that the operation of the Taiping Electric Business and the general E-commerce companies do not have two, hoping to promote professional development."

"The thinking of the electric business to do insurance", rather than "use the insurance thinking to do the electricity quotient", this is including the Taiping electricity dealer many insurance department electric dealer's experience. The insurance companies value the sales performance, while the electric trader values the user experience, the two fuses inevitably will have the collision.

"Only grasp the user, regardless of cost, all the user demand-oriented, which for us (electricity business) is the traditional thinking, but for the insurance company is innovative thinking." "Cao Dong, who once worked for an insurance company in the insurance marketing department, said.

E-commerce for insurance companies, not only a tool, or a market waiting to be developed. But how can this market be developed? In whose hands should the initiative be held? In the process of deep net, the insurance company still faces many unclear problems.