Research On The Operating Model Of Intelligent Insurance In The Era Of Internet Of Things

Network economy is changing our life gradually. With the era of IOT(the Internet of Things) approaching, its principle philosophy “IntelligentLife” inspires the idea of “Intelligent Insurance”. Overseas insurers havesuccessfully developed UBI (Usage Based Insurance), a new kind ofinsurance based on the Internet of Vehicles and the big data technologies.Domestic insurance industry should make strategic planning on“Intelligent Insurance” and try to obtain the first-mover advantage ondomestic insurance market and catch up with the pace of its overseas peersas soon as possible.Firstly, this thesis analyzed the enormous potentialities of thedomestic insurance industry and the bottlenecks it faces currently. Basedon the analysis on the three-tier architecture of internet of things,“Intelligent Insurance” was able to help the domestic insurance industrybreak through the bottlenecks that it faces effectively.Then, the study on the success of UBI and its competitive modes ondifferent stages of development revealed that operating model optimizationshould be done in the early stage. Afterwards, the thesis analyzed theoperating model of China Pacific Property Insurance Co., Ltd., the majordomestic insurer, and pointed out how the current operating model would restrict the formation of “Intelligent Insurance” competitive strength andhow to optimize it.In this regard, the thesis proposed a “Intelligent Operation” solutionthat can realize the heritage of business intelligence and automaticoperation, which can help the insurers to get rid of the constraints ofindividuals to some extent, accumulate and learn from the past experience,react quickly to market changes and even create new markets, in all, togrow like a living thing.Finally, the thesis designed the frame of intelligent operating model inthe aspects of organizational structure, major system and work flows.