E-commerce has a great impact on the traditional insurance industry in China, because the traditional insurance companies are less efficient. When some enterprises are challenged, who can do better? The answer must be that efficient enterprises can do better.
In 2006, Huize began to operate online insurance business, and the phase of Huize 1.0 was officially launched. In order to ensure that insurance products can be sold online on the Internet of non insurance companies in compliance with the whole process, Huixuan has used nearly five years to get through the data connection with short-term insurance companies. Now it seems to be a very simple interface for travel insurance, but at that time it took nine months for us and Asia to realize the docking. Later, Huixuan has successively realized product docking with nearly 100 insurance companies, providing users with a one-stop insurance service entrance. When users choose short-term insurance products on Huixuan platform, they can compare quotations for multiple products, conduct real-time and quick transactions, and enjoy a series of added value insurance services. Based on this, Huixuan has gained the opportunity to stand in the market.
About six years ago, Huize realized that the short-term insurance can no longer meet the needs of online users. Huize hoped to enter the product field of the largest market scale and the strongest user demand of long-term insurance. At that time, people in the industry thought that it was impossible for us to successfully sell a long-term insurance policy online, Ma Cunjun said. However, based on the judgment of online development of the industry, online change of user behavior and in-depth application trend of intelligent technology, we still decide to develop and operate long-term insurance products in-depth online.
Since 2015, Huixuan has entered the stage of 2.0. First, confirm the business model and online risk control system of long-term life insurance sales; second, make use of the accumulated big data advantages to customize exclusive products; third, mobilize the bilateral market to cycle the platform. Data shows that in 2018, the premium of life insurance products jointly designed and developed by Huixuan and insurance partners reached rmb113.9 million, accounting for 24.5% of the premium of the first year of life insurance products in the same period. Huixuan has become the largest independent online long-term life insurance and health insurance product and service platform in China, according to Aowei industry report.
Artificial intelligence has helped traditional insurance companies transform and upgrade, reduce costs and increase efficiency, with obvious achievements. According to the national development plan for the new generation of artificial intelligence, by 2025, the scale of Chinas artificial intelligence core industry will exceed 400 billion yuan, driving the scale of related industries to exceed 5 trillion yuan.
Huize believes that to promote the healthy development of artificial intelligence, we need to constantly promote the progress of the core technology of artificial intelligence, as well as the development and practice of various applications of artificial intelligence. This will be a long-lasting process, which requires cooperation between academia and industry. In 2020, Huize and Xicai big data research center jointly set up a joint laboratory. The first project will be anchored in the construction of Huize insurance big data knowledge map.
We know that the goal of solving the problem is to accurately lock in the main content, let the relevant personnel accept their suggestions, and push them to take measures on the basis of gaining recognition. Otherwise, no matter how excellent the analysis method is, it will not achieve this goal. As an important part of artificial intelligence technology, knowledge map solves the problem of insurance cognition.
New infrastructure is an important deployment of national strategy. The just concluded two sessions once again proposed in the government work report that we should strengthen the construction of new infrastructure and develop a new generation of information network. According to the definition given by the national development and Reform Commission and other relevant departments, the new infrastructure mainly includes three aspects: first, information infrastructure, including 5g network, big data, artificial intelligence, Internet of things, cloud computing, blockchain, etc., covering communication, algorithm, computing power and other aspects; The second is the integration of infrastructure, which is the application of the above technologies to enable and enhance the efficiency of traditional infrastructure, transform and upgrade to form intelligent transportation, intelligent energy, etc.; the third is the innovation of infrastructure, such as large scientific devices and large test platforms supporting major scientific research and technological development.
Through 14 years of intensive research in Internet insurance, Huize has created an Internet insurance ecosystem with its core online closed-loop platform as the center and technology and data intelligence as the driving force for product sales and customer service. On the one hand, we can meet the diversified needs of customers by cooperating with insurance companies products; on the other hand, we can optimize the products by feeding back the market and customers needs. Such a business model can connect insurance customers and insurance partners. In 2018, Huize set up Chengdu Science and technology company, technology research and development center and insurance science and Technology Research Institute in Chengdu to recruit Chengdus high-tech talents. At the same time, Huize cooperated with insurance big data Research Institute of Southwest University of Finance and economics to jointly set up insurance big data joint laboratory, and jointly explored the way for insurance big data research and development to rise to a new level and break through the situation with the joint efforts of industry, University and Research Institute. Ma Cunjun said: as the main technology R & D team of Huize, Huize Chengdu Technology Co., Ltd. will continue to increase the R & D and application of financial technology based on Chengdus excellent financial technology foundation and policy promotion in the future, making many breakthroughs in big data, artificial intelligence and other high-tech fields, and applying it to the insurance industry. Source: editor in charge of mass news: Chen Tiqiang_ NB6485
Through 14 years of intensive research in Internet insurance, Huize has created an Internet insurance ecosystem with its core online closed-loop platform as the center and technology and data intelligence as the driving force for product sales and customer service. On the one hand, we can meet the diversified needs of customers by cooperating with insurance companies products; on the other hand, we can optimize the products by feeding back the market and customers needs. Such a business model can connect insurance customers and insurance partners.