In recent years, the proportion of new energy vehicles has continued to increase, and the future development space is huge. Industry insiders believe that it is the general trend for new energy vehicle manufacturers to deploy insurance intermediaries, which can better create an ecological closed loop and integrate automobile production and sales, insurance, and services. Challenge less.
The ideal car curve takes the license plate
Tianyancha information shows that recently, Yinjian Insurance Brokerage Co., Ltd. has undergone a change in equity, the original shareholder has withdrawn, and the new shareholder Chehejia Financial Technology (Jiangsu) Co., Ltd. is 100% controlled. Chehejia Financial Technology (Jiangsu) is a subsidiary of Beijing Chehejia Information Technology Co., Ltd., and the brand of Beijing Chehejia is Ideal Auto.
According to the information of the China Banking and Insurance Regulatory Commission, Yinjian Insurance Brokers was established in March 2017, registered in Beijing, with a registered capital of 50 million yuan. After the change of shareholders, Li Auto obtained an insurance broker license and could directly expand its business.
Judging from the layout of insurance intermediary business by new energy vehicle manufacturers, Li Auto's action is not too early. Public information shows that Guangzhou Xiaopeng Automobile Insurance Agency was established in 2018, Tesla Insurance Broker was established in 2020, Weilai Insurance Broker and BYD Insurance Broker were established in January and March 2022 respectively, but they are currently on the official website of the China Banking and Insurance Regulatory Commission. Information on these insurance intermediaries is not yet available.
Wang Hao, founder and CEO of Coppola Automotive Consulting Services (Qingdao) Co., Ltd., analyzed the reporter of Securities Daily. From a procedural point of view, according to the spirit of "licensing first, then permitting", insurance agencies and insurance brokerage companies should After obtaining the business license, you must apply for a business license and obtain an insurance intermediary license before you can operate the insurance agency or brokerage business in accordance with the law. The inability to check on the official website of the China Banking and Insurance Regulatory Commission may mean that these companies have only obtained business licenses at present, and real business development requires complete licenses.
Overall, in recent years, new energy vehicle companies have chosen to deploy insurance intermediaries. Xie Yuantao, dean of the School of Insurance at the University of International Business and Economics, told the "Securities Daily" reporter that auto insurance is just in demand, but traditional auto insurance has become saturated, and it is also easily restricted by traditional channels such as 4S stores, and the comprehensive cost rate is high. New energy auto insurance is an important incremental space for the auto insurance market. At the same time, new energy vehicles are very different from traditional vehicles in terms of risk points and intelligence. Many core technology risk calculations are not mastered by traditional insurance companies, and it is difficult to standardize. Therefore, , the new energy vehicle manufacturers involved in the insurance intermediary business can better control risks and costs, and achieve value-added services, and the vertical integration model is also conducive to the promotion of auto brands.
Zhang Lei, CEO of Cheche Technology, told the "Securities Daily" reporter that most of the new energy car companies adopt the user reservation model, and the business model has changed from the traditional 4S store model to direct sales or display stores, and car companies can directly provide users with insurance services. At the same time, the entry of new energy car companies into insurance is changing the car insurance business model of traditional car dealer channels. Car companies integrate car manufacturing, sales and insurance services into unified management, throughout the user cycle, and use services to improve user stickiness and satisfaction.
Cost reduction is still a big issue
Car companies are betting on auto insurance intermediaries one after another. Industry insiders believe that they are looking at the incremental market of new energy auto insurance and consider it from the perspective of creating an ecological closed loop. However, judging from the current status of the operation of new energy auto insurance, there are still some challenges, and the attitude of insurance companies is in a differentiated state.
According to data from the Ministry of Public Security, as of the end of last year, the number of new energy vehicles in my country reached 7.84 million, accounting for 2.6% of the total number of vehicles. At the same time, according to the "New Energy Vehicle Industry Development Plan (2021-2035)", by 2025, the sales of new energy vehicles will reach about 20% of the total sales of new vehicles. A person in charge of an insurance actuary told reporters that according to estimates such as the retirement period of traditional fuel vehicles in stock, by 2035, it is expected that the annual premium of new energy vehicle insurance in the whole industry will increase to about 200 billion yuan, and the market potential is huge.
Judging from the current challenges of new energy vehicle insurance, Xie Yuantao believes that due to the difference in risk points from traditional vehicles, the rate determination of new energy vehicle insurance is also special. At the same time, the integration of new energy vehicles is very high, and the situation of "repair by replacement" is serious, which will cause high business costs and bring a new round of premium growth. According to the current statistics, the frequency of claims of new energy auto insurance is higher than that of traditional cars, the average amount of claims in each case is the same, and the total compensation amount is higher. Therefore, the comprehensive cost ratio of new energy auto insurance will be higher than that of traditional cars in the short term.
Wang Hao added that the current total number of new energy vehicles is relatively small, which is also an important reason for their high comprehensive cost rate. As the number of new energy vehicles increases, the probability of risk occurrence will gradually decrease. At the same time, cost reduction also needs to gradually promote cost reduction on the maintenance side, and perform precise maintenance on vehicle failures instead of "replacement repairs".
Large market potential is superimposed on high business costs. New energy vehicle manufacturers are actively deploying insurance entrances, but insurance companies have significantly different attitudes towards new energy vehicle insurance business. Large insurance companies are actively researching the layout, while small and medium property insurance companies are cautious. The person in charge of one company told reporters that it would actively promote the development of new energy auto insurance with the principle of "prudence". Don't reluctantly press the "pause button" during the quarterly business review.
Zhang Lei said that from the perspective of future development, the future auto insurance should be a diversified product model of time-sharing, weight, and personnel. Insurance companies, auto companies, and technology companies cooperate to provide more accurate auto insurance products, interact and interconnect, and create and share.
(Editor in charge: Guan Jing)
