Recently, many new energy car owners have reported that they have experienced a sharp increase in premiums or even been denied insurance when purchasing car insurance.

(Economic Daily, February 21)

  Everyone knows that new energy vehicle insurance is more expensive than fuel vehicle insurance. The annual premium for a fuel vehicle is generally two to three thousand yuan, while the premium for a new energy vehicle often starts at five thousand yuan, and the annual premium for some models is tens of thousands of yuan.

But even so, according to industry insiders, the combined ratio of new auto insurance policies in 2023 will basically exceed 100%.

This means that the new car insurance business no longer makes money, insurance companies are unwilling to do loss-making business, and it is reasonable for some car owners to be denied insurance.

  Why does new energy car insurance fall into the dilemma of "car owners complaining about high prices and insurance companies complaining about losses"?

Judging from the superficial reasons and data, the first is that the accident rate of new energy vehicles is too high. Data provided by insurance companies show that the accident rate of new energy vehicles in commercial insurance is 35.1%, while the accident rate of traditional fuel vehicles is less than 20%.

The second is that the maintenance cost is too high.

The integrated die-casting design of new energy vehicles increases the difficulty of repair.

Because once the integrated components are damaged, they can only be replaced as a whole.

  From a fundamental analysis, the real reason why new energy auto insurance is currently in trouble is that, as a new thing, regulatory authorities, insurance companies and consumers all have insufficient understanding of new energy auto insurance, and the old method of using gas vehicles is difficult to solve. New question.

  From the perspective of auto insurance, what is “new” about new energy vehicles?

First, new technologies have made insurance management more difficult and risky.

In addition to the power operation principle of battery + motor + electronic control, new energy vehicles are also equipped with a large number of sensors and intelligent equipment.

What's more important is that the current iteration of new energy vehicle power battery technology is accelerating, and the risks of its use remain to be seen, bringing more uncertainty.

The second is new users.

Most of the users of new energy vehicles are young people, and statistics show that the accident rate of young people is much higher than that of middle-aged people.

The third is new uses.

New energy vehicles are at a time when the sharing economy is surging. Many new energy vehicles registered as household vehicles are actually used in online ride-hailing operations, but it is difficult to require them to be insured as operating vehicles.

  Because of this, the problems of high premiums, high accident rates, and high compensation rates for new energy vehicles will surely exist for a long time, but isn’t there really no solution?

Looking at it from another perspective, the current dilemma is exactly where the opportunities lie for insurance companies.

It is reported that in 2030, new energy auto insurance premiums will reach 1.3 trillion yuan, accounting for approximately 31.3% of total auto insurance premiums.

Whoever can solve this problem will be the first to occupy this blue ocean with unlimited prospects.

  In fact, there are already car companies that have set their sights on this land of opportunity.

On November 8, 2023, BYD Property & Casualty Insurance added "motor vehicle insurance, including compulsory motor vehicle traffic accident liability insurance and motor vehicle commercial insurance" to its business scope, and has obtained relevant qualifications.

In recent years, domestic car companies such as NIO, Ideal, and Xpeng have entered into the insurance business across borders.

Regulatory authorities may wish to encourage car companies and insurance companies to boldly explore and innovate to find solutions.

  As a new thing, the boom of new energy vehicles is also accompanied by the reshaping of the insurance industry.

Although new energy auto insurance currently faces many challenges, with the advancement of technology, the enhancement of risk management and control capabilities, and the improvement of industry services, it is believed that this dilemma will eventually be resolved.  

  (Guangzhou Daily Tan Min)