·The China Insurance Regulatory Commission changed the car insurance fee: don't fight the price war

From April 1st, property insurance companies that operate commercial auto insurance can declare commercial auto insurance clause rates. In order to prevent property insurance companies from making price wars in the market-based environment, the China Insurance Regulatory Commission issued a notice yesterday, again requiring insurance companies to formulate "reasonable" rate plans.
It is understood that the first article of the notice reaffirms that the insurance company should follow the relevant provisions of non-life insurance product supervision and the principles and methods of non-life insurance actuarial, and scientifically formulate the commercial auto insurance rate plan in accordance with the principle of reasonableness, fairness and sufficientness. The industry generally believes that this is the SEC's vaccination for possible price wars.
The auto insurance rate reform plan stipulates that when an insurance company chooses to independently calculate the benchmark premium rate for commercial auto insurance, it should in principle be based on the actual cost level of commercial auto insurance in the last three years; if it chooses to use the commercial auto insurance model clause, it can be positive or negative in principle. Within the scope of %, the “nuclear guarantee factor” and “channel coefficient” rate adjustment plan are independently formulated.
The "Notice" clarifies that "insurers should select appropriate methods, assumptions and models when formulating their own underwriting rules, and fully consider the relationship between underwriting rules and risk costs; when formulating autonomous channel coefficient schemes, clear channel divisions should be Definitions and standards, and fully consider the relationship between the coefficient of autonomy and the cost of risk and cost."
Chen Wenzhi, the founder of the "Best Guarantee" and the insurance actuary, told the Beijing Morning Post that the coefficient of underwriting is autonomy, but it is not equal. That is to say, the self-insurance factor must have a basis, not to say how to discount on how to discount, but to score the risk through the actuarial model, and correspond to the score through the score. Regarding the channel coefficient, Chen Wenzhi believes that the change will be great. In the future, the auto insurance channel may not only be as simple as traditional channels and power grid sales, but also have more channel classifications, such as door-to-door business, agency business, car dealer business, electric sales business, store business, etc., and the low-cost channel will have better. price.
What changes will big data bring?
Girl Dad buys car insurance may be cheaper. After the reform, which car owners’ car insurance prices will fall, and which car owners’ insurance premiums will rise? Everything needs big data to give us the answer.
In general, auto insurance pricing will eventually revolve around the two risk factors of car and people. Simply put, different cars have different prices, and different drivers have different prices.
Depending on the car, the existing insurance terms have set some variables, such as the age of the car, the number of seats, the number of tonnages, the risk rate in previous years, etc., but there is still a lot of room to play. For example, two cars of the same price, Mercedes-Benz and Audi, if big data shows that Mercedes-Benz's "zero ratio (the price of all spare parts divided by the price of the whole vehicle)" is higher than the Audi car, then the Mercedes-Benz car insurance pricing is Will be higher than Audi, and vice versa.
In addition to the zero ratio, there may be differences due to the level of risk of the model. For example, if the big data obtained by the insurance company shows that the risk rate of the BMW is higher than that of the public, then the rate will be relatively high. There are also colors. For example, a car with a white color has a lower risk of a car with a black color, and a white color car may obtain more discounts.
As such, there may not be too much room for the use of vehicle variants, but the space for pricing based on human risk is infinite. For example, a domestic third-party auto insurance price comparison platform found through a small sample survey that the father of a girl is less likely to have a risk than the father of a boy. If such a result can be supported by big data, then it may be included in the future. Among the pricing models of insurance companies.
In addition, according to models that have been widely used abroad, the probability of getting out of a married driver is higher than that of an unmarried driver. The probability of a driver with a child is lower than that of a child without a child. In the Internet age, the external data and behavioral data available to insurance companies will be more extensive. Some domestic auto insurance experts predict that in the future, human genetic results, gender, occupation, household income, credit history, driving habits, social media information, including the number of steps each person walks on the WeChat campaign, etc., are possible. Used to make pricing basis.

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