Internet Auto Insurance UBI Product Design

Auto insurance,as the most important property insurance,has been criticized for its unreasonable premium price.The just started commercial auto insurance reform and the widespread use of Internet technology to collect and analyze driving data will help us price auto insurance more reasonably.UBI(Usage Based Insurance)pricing auto insurance premium according to the driving behavior,driving environment and other factors,has become the next hot spot in the auto insurance market competition.This paper analyzes the drawbacks of the traditional auto insurance premiums,combined with the depth of car electronic and the popularity of vehicle networking technology,based on vehicle insurance reform suggestions,learning from foreign excellent UBI product case.puts forward the three-stage UBI product design concept based on driving behavior and driving environment-the use of mileage,the number of violations,more than 120km/h driving time,the number of rapid acceleration and the time of night driving,uses the fuzzy controller optimized by genetic algorithm to design the UBI pricing factor,and use the number of dangerous driving to analyze the rationality.The UBI product designed in this paper has taken into account the factors of "people,vehicles and the environment",which is more objective and market-oriented.UBI products can not only help insurance companies to select high quality clients,provide differentiated services,and eventually improve profitability,but also reduce customers'premiums and develop the driver's good driving behavior and habits.Conveniently putting forward the UBI products will reverse the current auto insurance market mechanism and will bring new opportunities for technology companies,vehicle companies and insurance companies.