Sun Shihui, an all-media reporter from Southern Finance and Economics, reporting from Shanghai.
In recent yearsElectronicbingogameThe new energy car insurance market has expanded steadily, and public data show that by the end of 2023, the number of cars in the country has reached 3.ElectronicbingogameOf which 20.41 million are new energy vehicles and will continue to grow at a high speed. In order to cope with the rapidly growing demand for new energy vehicle insuranceElectronicbingogameThe major insurance companies in China are actively exploring new energy vehicle insurance. however, as a new type of insurance, new energy vehicle insurance has formed the current situation of "insurance companies shouting losses under the lack of historical data, user samples, high maintenance cost of new energy vehicles and so on." car owners are too expensive ". Among the insurance companies with the layout of the car insurance business, only the medium and large insurance companies at the head have made a profit, and most of the rest are at a loss, especially the new energy car insurance business is generally in a loss state.
The comprehensive cost rate remains high.
According to the annual report of insurance companies in 2023, the comprehensive cost rate of property insurance "old three" car insurance has increased in varying degrees, and the comprehensive cost rate of PICC property insurance has increased to 96%.Electronicbingogame.9% increased by 1.3% over the previous year; the comprehensive cost rate of Ping an property insurance increased by 1.1% over the same period last year; and the comprehensive cost rate of PICC property insurance increased by 1.1% over the same period last year.
Taibao property insurance new energy car insurance increased by about 54.7% year on year in 2023. Gu Yue, chairman of Taibao property insurance, said that under the influence of many factors, the risk rate of new energy vehicles is twice as high as that of fuel vehicles.
Among them, according to Gu Yue's analysis, the high cost of new energy vehicle insurance includes: first, the high intelligent integration of new energy vehicles; second, the different body structure of new energy vehicles; third, the driving behavior of new energy vehicles is completely different from that of fuel vehicles; fourth, social factors. Many new energy vehicles operate as private vehicles, that is, they are used as operating vehicles.
Wang Xiangnan, deputy director of the Insurance and Economic Development Research Center of the Chinese Academy of Social Sciences, pointed out that the lack of "accurate pricing power" is the main reason for the loss plight of car insurance business, especially new energy car insurance. Previously, car insurance pricing is more considered from the factors of the car, such as vehicle model, vehicle age, vehicle zero-to-whole ratio, preservation rate and so on. But whether there is a risk or not, it is often human factors that play a decisive role, such as the driver's driving skills, habits and so on.
"accurate pricing"
In the face of various problems, the industry and supervision attach great importance to it and actively look for solutions. For example, recently, the State Administration of Financial Supervision and Administration issued a notice on promoting the High-quality Development of New Energy vehicle Insurance (draft for soliciting opinions) to property insurance and other relevant parties (hereinafter referred to as the "opinion draft"). The range of independent pricing coefficient of new energy commercial vehicle insurance has been adjusted from "0.65-1.35" to "0.5-1.5". This move undoubtedly gives insurance companies more freedom in pricing, makes car insurance pricing more refined, and gives lower premiums for car owners with good driving habits, while premiums for "high-risk car owners" face upward pressure. reduce the overall cost upward pressure faced by insurance companies through differentiation.
While regulation gives greater pricing freedom, the industry how to make better use of pricing floating space and how to "tailor" scientific and reasonable prices for car owners has become an urgent topic for the industry to study.
In order to overcome this difficult problem in the industry, many institutions in the industry actively explore this field. For example, Zhang Lei, CEO of Automotive Technology, which recently partnered with Xiaomi Automobile, told the 21st Century Business Herald that Auto Technology independently developed AI intelligent pricing and anti-fraud assistance system to help car companies build driving behavior evaluation models for car owners. Through in-depth analysis of the driving data of new energy vehicles, including but not limited to multi-dimensional information such as speed, acceleration, braking frequency, driving route and driving environment, a comprehensive driving behavior evaluation model is constructed.
Recently, a number of insurance companies, such as PICC property Insurance, Ping an property Insurance and Pacific property Insurance, have cooperated with Ant Insurance, an Internet insurance agency platform, to jointly develop online auto insurance "joint pricing" technology. it is reported that since 2022, Ant Insurance has developed auto insurance "joint pricing" technology with insurance companies on the basis of the self-developed trusted privacy computing technology framework "hidden language". This technology combines the "car factor" and "human factor" to help insurance companies accurately judge the risk, and then give a reasonable quotation. Operation data show that the car insurance quotation after "joint pricing" can save car owners hundreds of yuan on average.
Can we break the game?
Anana, head of Taibao property insurance-related business, said that the "joint pricing" technology makes the car insurance risk pricing model more accurate, improves the company's operational efficiency, and allows users of different risk levels to get quotations that suit them. Users with good driving habits can get cheaper quotations.
It is understood that Ant Insurance's car insurance service currently cooperates with 13 insurance companies across the country. Zhang Jiyuan, senior manager of Ant Insurance risk Management Department, said that in the "joint pricing" car insurance pricing process, there are mainly three pricing factors. One is the pricing factor provided by regulation, which is based on the user's historical risk situation; the other is the pricing factor of the slave car determined by the insurance company and vehicle information; and the other is that ants now help the insurance company to do the risk premium based on human data.
'AS a brand (Ant Insurance), we hope users have a lot of products to choose from here, 'said Zhang Yiwen, head of Ant Insurance New Energy car Insurance. At present, there are six joint pricing models, and we hope that with the opening of pricing autonomy, we can do more accurate risk management for users.
"We have noticed that after many consumers get the car insurance price on Ant Insurance, they will compare it with the quotations offered by offline agents and finally select the most satisfactory plan." Jiang Minglong, head of Ant Auto Insurance, told the 21st Century Economic report. As more and more young people become car owners, it has become a trend to choose Internet channels to insure car insurance. Data show that more than 40% of the users of Ant car insurance are post-90s and post-00s.
Under this insurance trend, Zhang Yiwen believes that Ant Insurance, as an insurance agency platform, can solve information asymmetry and maximize benefits through the Internet, simplify the price comparison process of customers, and focus on saving money and worry for customers.
Wang Xiangnan believes that with the support of industry policies, the launch of new technologies such as "joint pricing" for auto insurance can improve the problem of auto insurance losses from the source, promote the marketization of commercial auto insurance rates and the healthy and sustainable development of auto insurance business.
