China News Service Client Beijing, June 17 (Peng Jingru) "In 8 months, the annualized premiums exceeded 1 billion yuan." 360 Insurance founder Tang Zichun announced the latest 360 transcripts of 360 Insurance on the 16th.

　　"Is this the software 360 ​​installed on my computer? Does it still sell insurance?" some netizens asked. That's right, the 360 ​​that everyone is familiar with.

360, Didi, JD.com and Xiaomi all have cross-border insurance business

　　360 Insurance is a project of 360 Finance Incubation. Previously, the two main businesses of 360 Finance were wealth management and loans. In fact, the insurance business is not only 360. Didi, JD.com, Xiaomi, and Drip Chip all have cross-border insurance business, and most of them are presented online.

Screenshot of the live broadcast of 360 Insurance.

　　On March 10, the official website of the China Banking and Insurance Regulatory Commission showed that the modern property insurance capital increase plan has been approved, and the registered capital will increase from 550 million yuan to 1.667 billion yuan. According to the equity structure table of Modern Property Insurance (China) Co., Ltd., Dirun (Tianjin) Technology Co., Ltd., a wholly-owned subsidiary of Didi Chuxing Technology Co., Ltd., has invested 533 million yuan to become a new shareholder of the insurance company with a shareholding ratio of up to 32%. Become the second largest shareholder with Lenovo.

　　Under the insurance page of JD Finance, car insurance, accidents, travel, health, property, life, etc. are included. Xiaomi Finance's insurance program includes health insurance for adults, children, and the elderly. The network mutual aid platform Drip Chip has Drip Insurance Mall.

Is the "back wave" of the insurance industry raging?

　　"We really see the rapid growth of Internet health insurance." In response to "Why did you decide to take out insurance", Tang Zichun said that the current overall growth rate of the Internet has reached 100%, depending on several changes: First, the change in the user population. The post-90s became the main group of insurance consumers; the second is the change in user acceptance channels. From the very traditional agent business in the past, users now watch short videos and browse WeChat public accounts. These channels have brought about changes.

　　"During the epidemic period, everyone's awareness of protection will also change significantly, and now it is the right time to arrange insurance." Tang Zichun said.

Tang Zichun, founder of 360 Insurance. 

　　A survey conducted by Fudan University and Tencent on China’s insurance demand during the epidemic found that the epidemic increased the conversion rate of Internet insurance. Before the epidemic, the conversion rate increased by an average of 73% over the same period last year; during the epidemic, the conversion rate increased by an average of 232 over the same period last year %. The survey believes that the epidemic provides opportunities for overtaking in corners of the Internet channels and Internet insurance.

　　In addition, the China Insurance Regulatory Commission issued the “Guiding Opinions on Promoting the Online Development of Property Insurance Business” to various property and casualty insurance companies in May. The online rate in business areas such as insurance reached more than 80%, and the online level in other areas increased significantly.

　　The online transformation of property and casualty insurance has become an indispensable test for various insurance companies to improve user experience and broaden their business fields. Traditional insurance companies must also be "forced" to go online.

　　"You will find that there are a lot of public account owners KOL (key opinion leaders), and they have begun to sell insurance in the media." Tang Zichun believes that this is not a single individual phenomenon.

　　In 2020, people who lived in the home during the epidemic were brought to the air. Led by live broadcast influencers such as Li Jiaqi, Wei Ya, Luo Yonghao, etc., big men such as Dong Mingzhu, Zhang Chaoyang, Guo Guangchang also put down their bodies and joined the wave of live streaming. The insurance industry is no exception. Since Xintai Insurance tested the live stream and brought the goods at the end of March, a number of institutions such as Water Drop, Ping An, Taiping, and Huaxia have joined in succession.

A screenshot of an insurance live broadcast.

What about online insurance?

　　The Heilongjiang Banking and Insurance Regulatory Bureau has reminded consumers to adopt the online insurance method. Because there is no business staff to explain, consumers should read the insurance contract terms more carefully, especially the insurance liability and exclusion liability. Some must be understood through online inquiries, calling the company's customer service, etc.

　　Yuan Yinghui, general manager of Sino-Italian P&C Insurance, told the media that consumers should pay attention to what matters when buying insurance offline, and also need to pay attention to these matters online.

　　For example, do you know this insurance company? How long was it established? What is your reputation in the market? What are the characteristics of the product? Is the service reliable? Is this product suitable? When purchasing insurance, you need to focus on health notifications, waiting periods, exclusions, deductibles, etc. to avoid unnecessary disputes in the future. (Finish)