China's insurance sales has become the third largest channel at present, from the original "split the world" model of agent and bank mail agent to the addition of Internet channels.
The impact of covid-19 epidemic on China's agent channels has directly led to the rapid decline in the growth of insurance premiums in the whole insurance industry in recent three years. At the same time, the latest data released by the regulatory authorities show that the number of agents has directly decreased by 2.5 million from more than 8 million, although many insurance companies and third-party institutions are actively seeking changes in themselves and the industry, For example, increase investment in Internet insurance sales channels in order to smooth the impact of shrinking agent channels, but at present, the effect is not obvious.
While some other giants with great stickiness of Internet customers began to intervene in the Internet insurance sales market, hoping to arouse the consumption enthusiasm of the market with the mode of "shopping around".
On February 28, ant insurance, the insurance agency platform of ant group, which has been put into trial operation for one month, officially launched the "golden election" service. The first batch of products selected for "golden election" included more than 40 types, covering medical insurance, serious illness insurance, accident insurance, life insurance and other types of insurance, including people's Insurance of China, Ping An insurance, China The Pacific Securities Co.Ltd(601099) insurance, sunshine insurance Insurance products of dozens of well-known insurance companies such as Zhong'an insurance.
"On the insurance page of Jinxuan products, consumers can clearly understand the reasons for the selection of each product through the five-dimensional analysis chart and actuary evaluation. The service is to make the recommendation rules of insurance products transparent and select the insurance products with the strongest comprehensive competitiveness from the five dimensions, so as to reduce the difficulty for consumers to choose insurance products." In this regard, Shao Wenlan, vice president of ant group, told the reporter of Huaxia times.
multiple platforms start new mode
According to the reporter, the standard launched by ant insurance to help Internet people buy insurance products is not the first in the industry. Previously, there were several Internet platforms in the form of XX insurance in the market to provide services to help Internet people buy insurance through product comparison. However, due to the small traffic of these platforms, it is difficult to attract the wide attention of the market.
In this regard, Guo Jinlong, director of the insurance and economic development research center of the Chinese Academy of Social Sciences, believes that insurance is a financial product with a high understanding threshold. Insurance is difficult to understand and choose. On the one hand, it puzzles consumers and on the other hand, it also forms "invisible" restrictions on the development of the industry. This model, which starts from solving the pain points of consumers, makes insurance products more transparent, can better protect the rights and interests of consumers, and helps to promote the high-quality development of the industry.
\u3000\u3000 "For the Internet platform without qualification, it is prohibited by the regulators to provide consumers with purchase reference services by publicly comparing the advantages and disadvantages of products. However, from the services provided by ant insurance, it does not belong to such services. This service is more like providing consumers with a purchase standard to analyze their own family, work, age, financial status and so on , to analyze what kind of insurance products individuals should buy, and then choose the insurance provided by various insurance companies on this platform. It may be that for the post-90s and post-00s who are used to Internet consumption, it is a relatively convenient service to buy relatively simple health and serious illness insurance and accident insurance. But it may not be enough for insurance planning that focuses on the whole. " In this regard, Wang Tao, an actuarial doctor from the Department of insurance of Shanghai University of Finance and economics, admitted in an interview with the reporter of Huaxia times on March 1.
It is worth mentioning that the "AIMM gold selection five-dimensional model" for evaluating insurance products launched by ant insurance. Specifically, the model will comprehensively compare and score insurance products from the five dimensions of insurance threshold, coverage, cost performance, service claim settlement and company operation, and select the top 10% products of each subdivided insurance type from hundreds of products on the "ant insurance" platform, At the same time, it will be updated dynamically according to user feedback. Subsequently, products that meet the requirements will be transferred in, and products with poor user feedback will also be transferred out.
Shao Wenlan said that Jinxuan service is an attempt of ant insurance to reduce the difficulty of consumer decision-making. In the future, it will continue to absorb the feedback of users and partners and continue to carry out optimization iterations. As an open platform, it will continue to link with more insurance companies and continuously introduce high-quality insurance products for consumers to choose.
layout behind the Internet track
In China's entire insurance market, insurance companies, consumers and third parties (including agents, bank mail agents and Internet channels) constitute a "triangular" relationship, in which each has its own considerations.
\u3000\u3000 "After the withdrawal of China's mutual insurance model from the market, it should be said that this part of the market consumer group and scale should be absorbed by the commercial insurance market. However, the original internet mutual insurance was to attract all kinds of policyholders with extremely low 'premium', which was a disguised price war for commercial insurance companies and even led to a price war Some short-term consumer health insurance products cannot be sold; For healthy consumers, most people choose what kind of insurance is cheap; However, commercial insurance companies should consider the cost of product development, sales and follow-up services. Therefore, the disguised low price competition strategy is obviously not feasible in insurance products. " On March 2, Xie Wen (pseudonym), marketing director of a large life insurance company in Shanghai, analyzed and pointed out to the reporter of Huaxia times.
Xie Wen said that for agent channels, with the vigorous development of Internet insurance consumption, there is a transformation of post-80s to post-00s consumer groups behind it. The "Internet aborigines" have gradually become the backbone of society and their demand for security has increased. However, agents are not fully aware of the "changing situation" of the market, and it is no longer feasible to rely on the sales of simplified insurance products. Therefore, the shrinkage of the team is also expected. In the future, Chinese agents must take the high-end route to survive in the market.
\u3000\u3000 "Chinese agents must follow the route of foreign wealth planners in order to win a place. The consumer group is changing. For the post-80s generation, they can compare insurance products by themselves. Even their understanding of financial management is no worse than that of agents. If they don't have a rich level of knowledge and experience, they can't recommend insurance products to them Let them buy insurance. " Xie Wen admitted.
In fact, in the view of insiders, if insurance companies sell insurance companies through their own Internet sales platform or a third-party sales platform, whether they can lower the price than the original products after excluding the cost of building the platform.
\u3000\u3000 "The covid-19 epidemic has aroused the awareness of national health security, while giving the industry a deeper understanding of the urgency of online insurance. Insurance companies have laid out Internet tracks one after another, and a large number of Internet insurance products have emerged in the market. However, under the condition that the follow-up service remains unchanged, consumers will think that the same insurance products of insurance companies must be sold on the Internet than through the Internet The other two channels sell cheaply because they save labor costs. But now it seems that many insurance companies are not only not reducing prices, but raising prices. Therefore, although the Internet insurance channels are developing rapidly, few can really attract consumers to buy large amounts of insurance. " On March 2, Chen Zhiwen, a senior person who has long studied the changes of China's insurance sales market, pointed out in an interview.
According to its disclosure, despite the rapid development of Internet insurance channels, the overall characteristics of low single piece premium and large number of pieces are still presented. After more than two years of development, Internet insurance channels have not been able to achieve the same degree as the other two major channels.
In addition, the reporter of Huaxia times also learned from the industry that the "good start" of the insurance industry in January this year is terrible. According to the data exchanged within the industry, except for the growth of new premiums of a few small and medium-sized companies, the decline of new premiums of all other large, medium and small life insurance policies by about 30% is normal, and even the decline of new premiums of some companies is more than 80%.
