The post-90s generation has become the main force of insurance consumption on Internet platforms: Shanghainese are the most able to buy, with an average annual spending of 6,000 yuan ranking first

The post-90s generation has become the main force of insurance consumption on Internet platforms: Shanghainese are the most able to buy, with an average annual spending of 6,000 yuan ranking first

(www.chinatimes.net.cn) reporter Hu Jinhua reports from Shanghai

As the insurance market agency channels continue to shrink, Internet insurance channels are gradually taking on the heavy responsibility of sales. So, in the "Double Eleven" that just passed, which insurance company took the lead in the Internet insurance agency platform?

On the 15th, Ant Insurance announced the operation report of its insurance "Golden Selection" service in Shanghai. Statistics show that up to now, the platform has 50 insurance products from several insurance companies shortlisted, and among the insured groups, young people have become the main force of buying insurance on the Internet. Among the specific crowd portraits, Shanghai's "Golden Selection" users spend an average of nearly 6,000 yuan a year on commercial pension insurance, ranking first, far exceeding users in other cities.

However, a reporter from "News" sorted out and found that on the Ant Insurance platform, the insurance products of these more than 50 companies are mainly small and medium-sized life insurance companies, and the products cover accidents, medical care, critical illness, property insurance, and long-term life insurance. There are not many participating companies and products, except for annuities and universal insurance products. In terms of insurance premiums, the average monthly payment for all the above-mentioned types of products is between a few yuan and tens of yuan, and only a few life insurance products have an average monthly payment of more than 100 yuan.

"Our statistics show that consumers born in the 90s are more accepting of Internet insurance products, and understanding the simple and convenient insurance application process is also the focus of their attention. Therefore, we have not included more complicated annuity insurance and incremental life insurance, etc. The products are put on the platform, and the payment amount of these products is relatively high. What we do is recommend high-quality consumer insurance to users, continuously lower the threshold of understanding and selection, and let users buy the right insurance clearly.” Ant Insurance Project Manager Zhang Fang told the "News" reporter.

Internet insurance agent consumer group portrait

Because the price is cheap, young people are more willing to buy insurance-the industry insiders explain why consumer insurance on Internet channels is popular.

"All kinds of products on the Internet insurance agency platform are essentially lowering the professional threshold for users to understand and choose insurance products. The intelligentization of Internet insurance services and the younger users are also inevitable trends. Consumers can make full use of various products in it. According to their own actual situation, they can purchase insurance products that suit them and configure multiple protection plans for themselves.” Sun Wujun, an associate professor of the Department of Finance and Insurance of Nanjing University Business School, pointed out to the reporter of “News”.

The reporter learned that Ant Insurance made a comprehensive comparison of the insurance products on the Ant Insurance platform based on the five dimensions of insurance threshold, coverage, cost-effectiveness, service claims and company operations. The insurance products finally selected covered 24 types of health insurance, 8 There are 9 types of life insurance, 9 types of accident insurance, and 9 types of property insurance.

In terms of geographical distribution, 44% of users who choose "Golden Choice" come from third- and fourth-tier cities and below. In addition, policyholders who choose to purchase "Golden Choice" insurance also tend to have multiple allocations, with 2.1 types of insurance products allocated per capita, and the most they allocate are critical illness insurance and medical insurance. The average critical illness insurance coverage for the insured is 170,000 yuan, and the accident insurance coverage is 980,000 yuan. In terms of age group distribution, nearly 40% are born in the 90s, the average age of insured users is 35 years old, and users born in the 80s, 90s and 00s account for over 80% of the total.

Zhang Fang said that because some of the 50 insurance products are similar in terms of protection functions, the five-dimensional model interpretation function launched by Ant Insurance will clearly tell users the five-dimensions of each insurance product on the product introduction page. There will also be real-name evaluations by insurance actuaries for the scoring and basis, so that users can see the advantages and disadvantages of the product at a glance.

"We have also launched a new one-click product comparison function, which allows users to compare the characteristics of 2-3 insurance products at the same time, including insurance rules, guarantee details, value-added services, etc., so that users can understand the subtle differences between similar products and solve problems for users. The difficulty of choosing. Data from market research shows that the average user satisfaction of Jinxuan is 7.3 percentage points higher than that of similar products.” Zhang Fang said.

Most of the finalists are small and medium-sized companies

It is worth mentioning that, by sorting out the names of all insurance product companies listed on the Ant Insurance platform, the reporter of "News" found that most of them are small and medium-sized insurance companies.

"Our company is small, and the number of agents is limited, because the Internet channel pays more attention to developing platforms, and the main online insurance products are simple and easy-to-understand insurance products. These products have low premiums, clear guarantees, and do not require special guidance. For For policyholders, the cost performance is indeed relatively high.” On November 16, Feng Jia (pseudonym), the person in charge of a medium-sized life insurance company in Shanghai, told the reporter of "News".

In Feng Jia’s view, the monthly insurance premium of tens of yuan and the annual premium of less than a thousand yuan is a waste of labor costs for the agent channel, because the use of the Internet insurance agency sales platform is also a way for the digital transformation of the industry.

However, among the life insurance, annuity insurance, and education fund products promoted by Ant Insurance's "Golden Selection", the reporter also found that the products of several life insurance companies on the shelves have reached hundreds of yuan in monthly premiums, and 100 yuan in annual premiums. There are thousands of dollars.

"Some insurance companies continuously split the annual premiums of some long-term products to the level of weekly payment. This has several effects. One is to further reduce the one-time insurance burden of young insured groups. , it seems that the price is not expensive; the other is that when the insurance pays for the accident, the policyholder also pays less premium. For health insurance or accident insurance with the same protection function, the annual premium paid directly to the insurance company, but The time when the insured is out of insurance is uncertain, and the products on the Internet agency insurance platform will divide the premium payment into weekly calculations. Once the insured is out of insurance, the remaining premiums can be exempted.” Regarding this, Shanghai Xie Fang, a senior insurance agent, pointed out in an interview with a reporter from "News".

From the perspective of the industry, this is actually a "profit-making" behavior of small and medium-sized insurance companies in a certain sense.

For more leading life insurance institutions, the third-party Internet insurance agent platform is not suitable for the "good start" products launched by them. Many life insurance giants are currently selling annuity-type and long-term pension-type life insurance products, and the premiums are often annual. If you pay tens of thousands of yuan or even reach the level of 100,000 yuan, you will have to pay thousands of yuan per month even if it is apportioned. For the current "main force" of Internet insurance insurance, purchasing is very difficult.

In fact, even on the Internet insurance agency platform, the competition among products is very fierce, and even it will be updated and eliminated every once in a while.

"On the Ant Baojin Selection platform, we think more about the conversion rate, and we will do a review every quarter. If we talk about a certain type of product track, the industry updates and iterates very quickly, such as this year's children's heavy For disease insurance, there are a lot of explosive products coming out this year. One of the top products on the platform has not been updated for half a year or a year, so the coverage and cost performance are not as good as other channels. After the implementation of the elimination system, it also affects the insurance The company attaches great importance to product upgrades, and some companies will develop better products in certain subdivisions and put them on the platform, and they will also become new gold-selected products, which are more beneficial to consumers in the industry.” Zhang Fang said.