Research On The Development Of UBI Auto Insurance Model In China

UBI auto insurance is a personalized auto insurance product based on the driving behavior of the owner and the use data of the vehicle,which can effectively solve the problems in the auto insurance market,such as low level of information technology,difficulty in risk control,adverse selection and moral hazard.With the successful development of UBI auto insurance in foreign countries,many insurance companies in China have started to try out UBI auto insurance.For the insurance companies themselves,it is crucial to choose the suitable UBI auto insurance model.The Ann joint ping an insurance,launched in 2013 "Baobiao Insurance",this is the first domestic use insurance company independent management pattern of insurance products,premium income reached 160 million yuan in 2017,but still has problems such as insufficient development.The mode of insurance company + third-party data analysis company is more suitable for numerous small and medium-sized property insurance companies.Its most typical UBI product--chebao now has more than 1.5million registered users,but there are still problems such as difficulty in sorting out third-party enterprise relations.Therefore,how to improve the two UBI auto insurance models is of great importance to the long-term development of insurance companies and the UBI auto insurance market.Content of this article is divided into five parts: the first part is theoretical analysis,mainly with the help of a car networking theory,blue ocean strategy theory and the value network theory to illustrate the purpose and importance of UBI car insurance and its development mode,and analyzes the existing four UBI car insurance models on the market,respectively is the insurance company independent management pattern,the insurance company+third-party data analysis model,traditional car factory+insurance companies and operators+insurance company mode;The second part elaborates the development of UBI auto insurance mode in China through the policy environment and the current situation of market development,and analyzes and compares the existing independent operation mode of insurance companies and the development status of insurance companies+third-party data analysis company.The third and fourth part is the focus of this article,used the third part is case analysis,respectively,to use the insurance company independent management pattern of the typical insurance products,"Baobiao Insurance" and to use the insurance company+third-party data analysis model of typical data analysisplatform-"Chehuida" analysis,combing the current situation of the development and advantages,it is concluded that two kinds of model of common existing policy environment and industrial environment is imperfect,poor stickiness problem,and puts forward the characteristic of the independent mode respectively high upfront costs,developing power shortage,imperfect information,Besides,it is difficult to sort out the third-party enterprise relationship unique to the third-party cooperation mode and the OBD equipment needs to be improved.The fourth part analyses the American UBI car insurance and UBI model of car insurance development present situation,and development experience of Metromile company as compared with "Baobiao Insurance",will be Verizon Telematics successful experience and contrast "Chehuida".Fifth part in the American experience for reference,combining with the industry development present situation,existing problems put forward in two patterns common to perfect the policy of industry environment,the measures of the marketing channels of innovation,the independent mode characteristic of the problem put forward positive use of the resources,encourage insurance companies upgrade technology and so on,to the third party cooperation pattern of particular problems proposed security cooperation platform,establishing measures such as technical specification of the industry.Innovation of this paper lies in detailed analysis of the domestic existing in the two main UBI car insurance mode of the status quo,through the case analysis points out the existing problems in the development of its,and will be the UBI car insurance mode compared with domestic two modes respectively,using the experience of its development,puts forward the measures of perfecting our country's two UBI car insurance patterns,for an insurance company for similar attempts in the future when alert and avoid related issues to guide.