The end of the universe of car insurance is differentiation, but all the way to the mud

Start with the underwriting of a Jiangling Quanshun.

The subject car is not transferred, non-business bus, five years old, the owner is more than fifty years old, female, a Jiangling Quanshun car with an NCD coefficient of 0.5 When renewing the insurance, the salesman found that the eight insurance companies he cooperated with all gave a ceiling autonomy coefficient of 1.35.

Some people say that this is the role of big data, indicating that the overall loss rate of this type of model business is too high; others say that this is a mistake injury, and preferential treatment should be given to targets that are obviously low in NCD. Speaking of justice is reasonable, and brahman is reasonable, as if you can find the answer you want from any angle.

I excerpted the nationwide odds rate data of a small company: as of now, in 2019 (the time of signing, the same below), the payout rate for 17 million premiums is 81.9%, in 2020, the loss rate for 18 million premiums is 81.25%, and in 2021, the loss rate for 17 million premiums (11 million satisfied premiums) is 89.8%.

Obviously, the quality of this type of business is higher than the average family car compensation rate in the market, the main reason is the model problem. Market participants said that this type of car is basically the rear seat is dismantled and loaded, the frequency of use is higher, the risk is higher, which can avoid the driving restrictions of trucks in the core area of the city. Not only such models, many micro-surfaces such as Wuling and Iveco are in this case, and this type of car usually accounts for a relatively high proportion of human injuries.

Sure enough, we took the car as a sample, in-depth investigation found that the car did load freight goods in the provincial city, the actual user is the son of the owner, engaged in stone business, as for why this car has not been insured for four consecutive years, the main reason is that the actual user is more shrewd, worried about the impact of insurance on the premium, the usual small rub is not compensated, a little bit of impact, big deal with the repair shop friends to deal with it, no longer take the insurance claim.

The injury accident never happened, because the car was just hanging in her name, and her son was already twenty years old, so the quality of the insurance was very good.

The current market situation is that large companies sit firmly on the Diaoyutai, keep the quality of the renewal, plus some new car business, basically can complete the business goals, the quality is also controllable. For special reasons, some small companies are holding high, fighting price wars against traditional high-quality businesses and controlling operating costs.

This has made it more and more difficult for some intermediate companies to break through the car insurance. Some companies complain that they can only go the old road of fighting costs, otherwise, there are wolves before and tigers after them, and the future is uncertain. However, the way of the fee is destined not to last long, to have a breakthrough, only to improve their own underwriting technology.

For example, the above case fully illustrates the importance of the transition from the car factor to the human factor, that is, the dimension of the driver is very important. This angle should be no controversy, for example, the new car of the new energy vehicle is afraid to avoid, but the data of many companies of new energy old cars is relatively good, probably because the adaptability of the first new energy vehicle is the problem, perhaps in the future, many people's second and third cars are new energy vehicles, the quality may improve.

But the business policy itself is a complex project, such as the examples and speculations written above, which can only be used as a talking point. However, the current market severity has reached a time when it is necessary to improve the ability to identify risks, and if it is only one-size-fits-all, the black-and-white approach will be abandoned by the market.

Recently, there is another case, a business owner for some reason, the car under his name to his son, the son is born in 2007, this is good, this car is almost rejected by the industry, because most companies are extremely unfriendly to car owners under the age of 25, let alone a 15-year-old child. The owner of the car also wondered, my child does not even have a driver's license, it is impossible to drive this car, when he is an adult, this car is estimated to have been updated earlier, the actual owner is still me. Or your insurance company will come and sign an agreement with me, and if my son has an accident, don't pay compensation...

Let's talk about the non-operating truck business, which is known as the killer of small and medium-sized companies. At present, there is almost no one in a certain market to underwrite, and everyone smells the tiger. Occasionally, a few are also distinguished from the perspective of tonnage, and if I remember correctly, the underwriting rules in this dimension were the common practice of the market more than a decade ago. But now that technology is changing rapidly, can't we really screen out quality businesses? For example, the driver's occupation, driving route and mileage, etc.

Many people will say that large companies in this kind of business should not do it, we do it is self-investment. But ask the big companies what you do.

The future of car insurance must be differentiated, even technological, breaking the zero-sum game between insurance companies and car owners. However, in the short term, it is still based on front-end business screening, which is a very good practice and exploration opportunity in the current range of independent pricing market.

But in reality, the road to the ideal is full of mud and thorns, and to improve the level of underwriting, it is by no means a bloody and pure technical flow that can solve:

For example, the problem of data volume. Small and medium-sized companies are generally lacking, and commonalities and personalities are the same, and there are also contradictions. For example, there will be opportunities in a certain segment, but there is no amount to support, and it may be abandoned halfway. Some middle-level underwriters said that underwriting must be about probability, if it is 100% accurate, then the value of this underwriter is estimated to be high for ordinary insurance companies, but there is no large amount of data that cannot run through the model;

For example, the issue of the stability of the underwriting team. Stable and continuous data analysis is very important, screening business is not necessarily a thing of the underwriting department, it involves the problem of claims management, the problem of the assessment of the company's branches, the characteristics of the sales force and so on. The so-called orange sheng huainan is orange, born in huaibei is orange, different data in different companies, will produce different results. However, insurance companies often have headaches and pains, frequently adjusting business direction and underwriting personnel;

For example, the issue of corporate strategy and up-and-down execution. Recently, the reader provided a case, a company leader must say that the transformation to customer operation, but the salesman found an extreme case, that is, the company has underwritten four consecutive years and four years of no compensation for the car, when renewed this year, the company priced at 1.35 autonomy coefficient, the customer is angry to call the complaint. Within the main company, underwriting issues are often easy to throw up and down and blame each other

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Of course, we have also seen many small companies adjust their auto insurance policies, some companies abandon the mainstream business of the market and specialize in the plate business; some companies cooperate with technology companies to specialize in dump trucks with high loss rates, and so on. No matter what the future holds, the effort has never stopped.

Zhang Ailing said that life is a gorgeous robe, which is crawling with lice. Isn't that also the case in the industry in which we live? Love and hate, pain and joy.

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