The Research Of China's Internet Of Things Commercial Health Insurance

IoT(Internet of Things)is an intelligent recognizing technology centered in sensors,GPS,and the Internet.It ignites a huge business potential and promotes economic development.For insurance industry,the development of the Internet promotes it in the marketing model and product form with new innovation.Internet insurance is featured in efficient and convenient marketing model which reduce costs,it also develops insurance products based on customized needs.Following the Internet insurance,IoT technology and insurance industry integration also lead the insurance products to smart insurance products.Over the years ahead,IoT will cover many areas including life insurance and finance insurance,which create a more reasonable pricing,more strict underwriting and more efficient settlement of claims.These efforts were made to usher in a smart era of insurance.As for the life insurance,the formulation of traditional pricing model relies on the law of great number in life table,which eliminates the specific features of individual insurant.However,through IoT,life insurance model will be transferred into dynamic model which provides a more accurate formulation based on the risks an insurant faces.ZhongAn Online Finance Insurance was launched in May 2017.It cooperates with Mi Band and launched “BuBuBao”.In this thesis,the first section illustrates the application of IoT for insurance product based on the case of “BuBuBao”;with the analysis of creativity and business model of commercial life insurance products.The second section analyzes the possibility and necessity of IoT for insurance of health products based on the maturity of China's IT and IoT industry;it also provides enlightenment for China's IoT for insurance of life products based on the application of IoT technology in insurance company and medical institutions in the US.The third section provides suggestions and badly needed policies for development of IoT for insurance of life products.