The insurance industry embraces the "big Data Age" or brings disruptive changes

Today, data has penetrated into every industry and business area, becoming an important production factor. The excavation and application of massive data indicates a new wave of productivity growth and consumer surplus. China's insurance sales model is brewing new changes, the advent of the Internet, the era of large data to the financial industry caused by the revolutionary, subversive changes are being fermented, the insurance data to control the ability to put forward new challenges, but also for the development of insurance industry has provided unprecedented space and potential.

Dig deep into the potential of large data applications

At present, most insurance companies have recognized the "big data" to improve the decision-making process and business effectiveness of the potential, but do not know how to start, some enterprises in the "Big Data" era of the tide of active exploration, become a pioneer. 2010, Sunshine Insurance Group built data mining system, this is the first in the insurance industry. Using this system, a lot of insurance data Intelligent Application project has been carried out, and some results have been obtained, and the first batch of data Mining division in the domestic insurance industry has been developed.

2011, the second-generation risk fully initiated customer relationship management, to start data analysis. Through the deep excavation and development of data resources, can be used for product pricing, underwriting caliber of the single data, the system of Industry ultimate compensation analysis and in line with China's domestic market property risk curve, direct insurance companies can be based on these data to analyze the level of insurance premiums of a certain type of risk, understand the company and the industry reasonable pricing level gap, Promote rational analysis and management. At the same time, the analysis results can be applied to marketing, business development and so on, to provide reference for direct insurance company decision.

2013, China's Insurance Reinsurance Industry Data Analysis Center officially set up, this is the insurance companies to catch up with the "Big Data" era of the wave of a landmark event. As early as 1996 years, reinsurance companies in the use of direct insurance company and the competitive relationship between the data actively intensive management, expand and direct insurance companies in the field of data analysis cooperation.

The key to large data applications is the idea. As the mind shifts, data can be cleverly used to inspire new products and new services. To cite a use of data and do not use a very far from the results of the example: "Taobao existing a freight insurance, that is, Taobao buyers returned when the return of the freight is originally borne by the buyer, if the buyer purchased the freight insurance, return freight by the insurance company to bear." The result of this purchase is that the operating loss of the insurance company is very serious, which directly leads to their reluctance to further develop and expand the freight insurance. "Is freight insurance really an inevitable loss?" The answer is No. Insurance companies design a solution for large data intelligence applications: "Because the probability of the return, with the buyer's habits, the habit of the seller, the variety of goods, the value of goods, Taobao promotional activities, etc. are related, so, using the above data, the use of data mining methods, the establishment of the probability model of return occurrence, The implant system can be in each transaction occurs, give different insurance rates, so that the collection of insurance premiums, and returns the probability of matching, so the freight insurance will not be lost. On this basis, insurance companies can expand customer coverage through freight insurance. "From serious losses to cost control and access to customers, by analysis, mining the value of large data provided to attract customers."

The era of Big Data network insurance

The obstacle to big data development is the "mobility" and "accessibility" of data, and the network solves this problem perfectly. Collecting, releasing, analyzing and predicting large data through the network will make the decision more accurate and release the hidden value of more data. Compared with traditional insurance methods, network insurance has the advantages of reducing the operating cost of insurance companies and insurance intermediaries, expanding the business scope of insurance intermediaries, new marketing means, valuable interactive communication tools, providing a higher level of information service, providing customers with convenient tools, enabling customers to enjoy personalized service, Reduce the risk of insurance companies, more effective protection of customer privacy and virtualization of the trading methods and other characteristics.

It can be said that the public security online is a large data and network insurance in-depth integration of examples. Its products mainly from the protection of Internet security operating angle, for Internet users to provide network transaction security, network services follow-up solutions. Unlike the previous network sales, the Internet insurance advocated by public Ann is no longer a simple transfer of traditional insurance products to the Internet, but based on the needs of the online insurance population and the characteristics of the on-line design products to provide customers with comprehensive online life protection.

From the point of view of product design, large data Age network insurance can meet the individual needs of different customers to the maximum extent, network insurance can optimize the customer experience, "large data" can be designed according to customer demand for real customer satisfaction products and services, the combination of the two is entirely "customer-centric."

From the large data era of network sales advantage, one is the big Data Age Insurance Network Marketing has the most extensive customer base, has the biggest development potential. Second, the Internet has a large amount of information, conduction speed, transparency, the characteristics of a more symmetrical transaction between the two parties. By establishing a new type of "automatic" Network Service system, policyholders can easily and quickly from the insurance company's service system to obtain the company's background to specific insurance products details, but also the freedom to choose the required insurance companies and types of insurance, and compare, to obtain low-cost, efficient service. The third is to save costs and reduce costs. By selling insurance or providing services through the Internet, insurers can pay less for the cost of Rent, Commission, payroll, printing, transportation, communications, etc. Four is the natural advantage of data management. The deepening of specialization in insurance market, the improvement of management level and the promotion of service quality should be based on the in-depth excavation and analysis of data, especially customer consumption data.

It can be seen that the network insurance in the era of large data is conducive to the promotion of marketing reform. Over the years, our country has been taking insurance agent as the main body of insurance marketing system, and has formed the life insurance Marketing system with life insurance salesman as the main body of life insurance marketing. However, there are still some outstanding problems in this system. Due to the lack of direct communication with the insurance company, the marketing staff will simply exaggerate the benefits of insurance, conceal deficiencies, bring great moral hazard to the insurance company, and bury the hidden dangers for the long-term development of the insurance industry. Moreover, the quality of the insurance marketing personnel is mixed, also brings the huge business risk to the insurance company. In addition, the existing marketing mechanism still has the disadvantage of inefficiency.

Therefore, in the era of large data development of network insurance, can quickly and easily collect information, release, perfect to achieve the exquisite application of the law of large numbers. Provide low-cost, efficient insurance services to the public.

Network insurance needs a number of supporting support

First, financial support. In the process of advancing the informatization of insurance companies, the government can take some measures, such as the investment of information technology to offset the tax, and can reserve some funds for the information technological transformation before tax.

Second, foster the network insurance market. Network insurance market is to provide a place on the network, so that customers can find a large number of insurance companies here, to facilitate the understanding of the basic information of each company or a certain type of insurance companies of the relevant information, and the risk of the pros and cons of comparative analysis, select the best company for insurance. Network insurance market will not only bring convenience to customers, but also expand the impact of insurance companies and business volume. Therefore, the insurance company should, under the organization of CIRC and the Insurance Association, fully support and display itself in the network insurance market to further promote the development of China's network insurance market.

Third, the construction of large data centers. Large data centers require a strategic top-level design of the CIRC and the insurance industry. The first is to work with China's standardized data management Center to develop a standardized system of insurance data. Second, through 5-10 years of time to gradually complete the construction of industry data standardization. At the same time, the nonlinear energy fusion data is designed and the database can be extended further. In addition, a flexible framework and interface are designed. Through the above steps to gradually complete the construction of China's insurance industry data center.

Four is to develop suitable insurance species. The use of the network to collect data to form large data, according to large numbers of exquisite use of large number of rules to design customer demand products, through the network to sell products, and according to customer feedback to further modify the product to achieve development and sales perfect interaction.

Five is to attract talented people and the existing staff in-service education. Many insurers have a rule that both managers and technicians must complete certain insurance tasks. It seems that this rule will add a bit of business to the company, but it is invisible and rejects some of the best insurance managers and technicians. The large data age needs first-class management personnel and technical personnel, must break this unwritten rule. At the same time, we should pay attention to the existing employees to carry out insurance expertise, foreign language knowledge and information technology knowledge re-education, through education to improve the overall quality of the company's staff.

Six is the information management of responsibility and freedom simultaneously. According to the survey, 66% of the respondents were most concerned about the security of the transfer of premiums after insurance. Consumers ' worries about internet consumption mainly focus on the security of online transactions and the protection of personal privacy. Therefore, the network insurance should pay special attention to network security, realize the contradiction between responsibility and freedom of harmony and unity.

(Responsible editor: The good of the Legacy)