At present, digital technologies represented by big data, cloud computing, and artificial intelligence are profoundly changing the business chain and value chain of financial institutions, and reshaping the business logic and business model of financial institutions. As an integral part of digital finance, digital insurance plays an important role in promoting high-quality economic development, and the scale of the auto insurance market is gradually expanding. On December 22, Foton Motor's digital insurance integration solution conference was held in Guangzhou, Guangdong.
Traditional commercial vehicle insurance generally only determines whether the vehicle is eligible for insurance and the level of premium based on the vehicle score, which is not enough to meet the healthy development of the commercial vehicle insurance industry and the diversified needs of truck drivers. Liu Xuguang, vice president of marketing and spokesman of Foton Motor Group, said that digital auto insurance is a new insurance model based on Internet of Vehicles data, which can not only meet the personalized needs of truck drivers, but also provide diversified insurance products, which will help promote the healthy development of the commercial vehicle insurance industry.
Relevant statistics show that while the vehicle co-ordination business with low premiums and lax review has been vigorously promoted, there have been many untrustworthy incidents due to the lack of effective supervision. Reasons such as high claims and frequent accidents of commercial vehicles have also made many insurance companies "talk about the color of goods", especially after the reform of auto insurance, it is more difficult to insure commercial vehicles. The emergence of digital auto insurance products not only innovates the service model, but also obtains the premiums that should be paid through the analysis of the driver's behavior pattern, avoiding the unreasonable phenomenon of high-quality auto insurance users paying for users with bad driving behaviors.
In recent years, China's China Banking and Insurance Regulatory Commission has issued a series of new insurance policies to vigorously support the reform of commercial auto insurance. These include requiring property and casualty insurance companies to improve the online, digital and intelligent level of auto insurance based on technical means such as the Internet of Vehicles, and launching the first guidance document for digital transformation of the financial and insurance industries, which not only provides a development direction for domestic digital auto insurance products, but also promotes the penetration rate of auto insurance and the development of the automotive industry.
However, according to the current scale of the domestic digital car insurance market, car insurance based on Internet of Vehicles big data has developed rapidly in the field of private cars, but in the field of commercial vehicles, there are fewer companies involved and the development is relatively slow. The reason for this is that the accident rate of commercial vehicles remains high, which leads to high underwriting pressure, high premiums, and even refusal of insurance for some models under the original model. Therefore, in order to expand the scale of the domestic digital auto insurance market, it is inseparable from innovative auto insurance product models.
At the press conference, Foton Motor, together with Zijin Property Insurance and Truck Home, jointly created an integrated digital auto insurance solution, breaking the data silos, and providing users with more reasonable and high-quality insurance solutions through the analysis of data such as driving behavior, vehicle status, and driving routes of car owners.
In the future, with the further upgrading of the application of Internet of Vehicles data, high-risk vehicles in the traditional sense will gradually develop customized insurance products to cover. It is believed that with the support of Internet of Vehicles technology, multi-party data integration will promote the transformation and upgrading of diversified digital auto insurance products, thereby helping all parties achieve a win-win situation. (Lei Miaoxin).
*: Bright.com.