Research On The Impact Of Big Data On Internet Insurance

The information technology revolution, which has arisen in 1980s, has had an important influence on human's work, life and study. From the office automation to the current mature network business model, from the initial industrial manufacturing to the present 4 of the industry, are highlighting the deep impact of modern science and technology on this society.Modern information technology, especially the development of network technology, has a great impact on all works of life, the insurance industry is not an exception. In recent years, with the rapid increase of the size of the premium through the network platform for the sale of insurance products, various insurance companies began to deploy network in the insurance sales channels. By far, more than the insurance company will only be limited to the Internet insurance sales channels, focused on the shelves to attract Internet users of insurance products, that is, by virtue of the network platform for marketing. This stage was attributed to the primary form of the development of the Internet insurance in this article, which can be called the Internet insurance. Although the current net sales channel sales of premium income is low, the Internet insurance innovation and development space is huge, and cannot be stopped at this level.Based on the description of the current development of Internet insurance in our country, the definition of Internet insurance is introduced, the characteristics and advantages of Internet insurance are introduced. Internet insurance refers to the use of big data, search engines, cloud computing, networking, mobile payment and other Internet information technology on the traditional insurance coverage, underwriting, preservation, claims, payments, product development, which is upgraded and transformed, and is innovative insurance based on the modern information technology, especially the Internet. Mainly in the following points: First, the deep integration of the insurance company's business processes with the Internet. The Insurance company uses statistical models to process big data from policyholders, claimants to assess its risk probability and risk of loss, to realize automation of underwriting, claims.Second, the innovation of insurance products. Insurer uses the big data from the behavior of policyholders and cloud computing technology to analyze associated with historical data in order to match the rate with different policyholders' risk. According to the different use of modern information technology, the Internet can be divided into the web-based Internet platform insurance and Internet insurance based on networking technology. The difference is that the former is the official website and third-party network platform for the operation of infrastructure, and the later is based on LAN technology, sensor technology, the construction of an independent insurance company.Overall article is about the impact of big data on the Internet insurance, including an overview of big data, data analysis, the importance of the Internet in the financial, logistic regression algorithm presentation, big data using the Internet Insurance, Internet insurance issues under the impact of big data and final comments.First, the article begins with the definition of the Internet insurance is revised, Internet Insurance includes not only the meaning of the network of sales channels, also refers to innovation and upgrading of all modern information technology on the insurance business processes and pricing produced. Modern information technology mainly refers to big data, search engines, cloud computing, Internet of things, mobile payment and other means. The scope of the Internet has also been expanded, that is, all interconnection network communication technologies, including the World Wide Web technology and LAN technology.Second, the middle of this article introduces the big data using the Internet insurance, the concept of big data and data analysis, while a statistical model is used to handle big data in the Internet insurance. The article analyzes the case of the use of big data in the insurance products from US progressive insurance company, and the logistic regression model used in the snapshot Score. It focuses on statistical models used in the underwriting, claims, pricing and anti-fraud aspects. Fourth chapter describes the problems in the large impact of the big data encountered in the development Insurance, and easily leads to adverse selection from Internet Insurance policyholders under the influence of big data, while Internet insurance risk controls is immature, and data are difficult to obtain.Finally, measures on the development of Internet Insurance and the study conclusion. In order to promote innovation and development of Internet Insurance, big data must continue to play an important role in the Internet insurance, while strengthening coordination between departments so that to facilitate data sharing. In addition, Structure of insurance products on the Internet platform needs to be adjusted, and insurer needs to pay more attention to the high intrinsic value of the product.