first, the development of the Internet insurance market:
around 2013, with the rapid development of Internet banking, Internet auto insurance has become a new outlet, a venture capital and venture capital companies have flocked.
why we look at this area, because the auto insurance market is a huge stock market. According to the China Insurance News, the first half of 2016, the industry’s auto insurance premium income of 329 billion 60 million yuan, an increase of 9.86%. Another data show that in 2015 the annual total premium income of insurance companies has reached 600 billion yuan.
data source: PICC
data from the point of view, the market is attractive enough, but if not, industry in-depth understanding, hastily entered this field, the so-called Internet auto insurance business, will eventually find a hard to fill up the hole into the. This is also a lot of experience in the Internet insurance companies.
two, Internet insurance industry market competition:
in the auto insurance value chain, the value of main participants include owners, agents, insurance companies, assessment companies, rescue companies, auto parts manufacturers, automobile 4S shop, repair factory, set loss center etc.. In the entire auto insurance industry chain, insurance companies and 4S stores in a strong position.
is due to the value chain complex, the industry of the Internet and its difficult and slow, and this is also a reason of failed entrepreneurs entrepreneurs one after another after another.
the following competition from Potter’s five forces model, look at insurance (Internet insurance) competition status:
1 supplier power:
insurance market is the main supplier of insurance companies, the insurance companies, the current market a total of less than 80 property insurance companies in the insurance field, according to the market share of the three largest PICC, Ping An, three giant pacific. They take up 70% of the premium income in the market. In the second echelon of the earth, sunshine and other insurance companies. Although this is not a fully competitive market, but also very fierce competition among insurance companies, in order to compete for the owners, and owners have to give rebate channels near the high, but also face enormous pressure compensation, always in profit or loss situation.
2 buyer power:
auto insurance market is the most direct buyer power owners, but the owners bargaining power is relatively weak, but the market price of the recipient.
in the buyer’s market, there is another kind of purchasing power: insurance agents, such as cninsure, a new station etc.. And the 4S shop, car repair factory and other institutions. The purchasing power with the help of their own channel advantages and customer purchases from the insurance company can get high rebates or discounts. Especially in the new car 4S shop, for the first time.