BYD Insurance is really here!
On May 13, BYD Insurance's first policy was issued, involving 24 models of Dolphin Glory Edition 420km Free Edition, the current guide price of the model is 112,800 yuan, and the current premium is 3,900 yuan.
It is not clear what the third-party compensation limit of this policy is, and in addition, there are any additional types of insurance, so it is difficult to judge whether it is expensive or not, but BYD's entry into the insurance industry may bring earth-shaking changes to the industry.
A new energy vehicle company has changed its career to sell insurance, isn't this not a serious business? In fact, in recent years, new car-making forces such as "Wei Xiaoli" and Tesla have completed the layout of their own insurance sector by establishing and acquiring insurance brokerage companies. Recently, HITOP Insurance Brokers underwent industrial and commercial changes, and the name of the company was changed to "Weilai Insurance Brokers Co., Ltd."
BYD also acquired Yi'an Property Insurance, which originally had no car insurance business, but last year, BYD Property Insurance changed its business scope. After the change, BYD's property insurance business scope added "motor vehicle insurance, including compulsory motor vehicle traffic accident liability insurance and motor vehicle commercial insurance", so that BYD can be regarded as having the qualification of car insurance business.
Why does BYD want to do car insurance? In fact, it is also very easy to understand that BYD's annual sales are so high, and the insurance business has been divided by major insurance companies.
Many people say that car insurance, especially the insurance of new energy vehicles, is simply a small profit, and the current car insurance market is fiercely competitive, and only the head property insurance companies can obtain meager underwriting profits. Many insurance companies even refuse to insure some new energy brands, the reason is that the insurance rate is too high and they don't make money. Losing money and making money?
This shows that you don't understand new energy vehicles at all, insurance companies refuse to insure new energy vehicles, because they have no data in their hands, and car companies are different, which car has a high failure rate of which parts, which car has run how much mileage, maintenance and not timely, whether there has been an accident, which parts have been replaced, and even the driving habits of the driver, the background is clear, then car companies can flexibly adjust the premium of each car owner according to the data, which is impossible for insurance companies to do. The entry of new energy vehicle companies in the data side of the advantage is self-evident.
I know that domestic car owners have been suffering from insurance companies for a long time, and insurance does not pay for both, this does not pay, that does not pay, and car insurance is still expensive and scary, so BYD's joining will become that catfish and change the car insurance industry?
In the short term, it is not optimistic, because the car insurance industry is too complex, involving a lot of risk assessment and management work, for BYD property insurance, it is necessary to establish a sound risk management system, in a short period of time, I hope that BYD car insurance is cheaper than other car insurance, and the service is better, which is impossible.
However, it is conceivable that the rules of the insurance industry may change, for example, car insurance pricing will be more precise and scientific, and the insurance price of each car will be accurately formulated according to a person's driving habits, car condition, and maintenance and repair. Another example is the reduction of customer acquisition costs, which is conducive to reducing the cost of car insurance, and for example, it helps to control the maintenance cost of vehicles in danger, after all, new energy vehicles are generally maintained in 4S shops.
In general, it is definitely a good thing for BYD to join the insurance industry, and it remains to be seen whether BYD sells car insurance as a wolf or a catfish.