The development of a new economic business form always changes from chaos to order, and this process is often accompanied by the emergence of many derivatives, driving the development of more industries, the same is true of the development of e-commerce. The deep integration of mobile Internet and public services unexpectedly provides a huge space for the development of the insurance industry. The consumption risk caused by the carnival shopping festival gives birth to the consumption insurance in the Internet scene. With the emergence of more and more consumption scenarios, various scenarios of consumer insurance emerge in an endless stream.
E-commerce festival shopping behind, consumer safety into the core pain point
With the rapid development of new e-commerce models and new economic formats, all kinds of new risks have emerged besides the traditional online shopping risks. Every year’s “Double 11” is not only the carnival of consumers’ shopping, but also the peak period of consumption disputes. Behind the overwhelming discounts, there are often unexpected consumption traps.
For example, the most typical false propaganda, gifts are not worthy of the name. The common means of e-commerce promotion is to attach gifts to goods, but many buyers received gifts and businesses promised gifts are completely different, “thumb size mask”, “dishcloth-like towels” and other gifts emerge in endlessly. And if there is a quality problem with the gift, the seller will usually refuse to provide service because it is a gift. In such a case, consumers can only eat yellow lotus mute.
For example, a few days ago, the State Administration for Industry and Commerce (SAIC) restricted the behavior of “raising prices first and then offering discounts” to create a healthy atmosphere in the e-commerce market. During the e-commerce festival, in order to create a low price, many businesses will take the way of raising prices first and then lowering prices, and the e-commerce promotion activities require consumers to spend their brains to calculate. Last year, the National Development and Reform Commission (NDRC) accepted complaints about the “Double 11” online shopping festival. The complaints about false promotions were the most common, accounting for 62 percent. This year’s “Double 11” promotional activities also make consumers puzzled, tmall, JINGdong, Taobao and other e-commerce platforms launched pre-sale, all kinds of full reduction of red envelopes, red envelopes directly reduced, cash coupons and other promotional activities, so many “cut hands” joke: not good at math, do not know how to cut hands.
In addition, this year’s Double 11 has been criticized by consumers: business pre-sale mode is multifarious, unclear rules. Since the beginning of the pre-sale link, many businesses in the pre-sale to play a pattern. As Singles’ Day approaches, browsing the pages of e-commerce platforms such as Tmall and JD.com, you can find that the full screen of deposit payment activities have begun, such as doubling of deposit, torch red envelope, shopping allowance, uncapped upper limit, preferential sharing, etc. And there are different themes in different periods of time to buy, all kinds of dazzling pre-sale activities so that consumers can not understand.
There are direct and online shopping landing link: consumers order very quickly, logistics information update is very slow. The postal service is expected to handle more than 1.5 billion items of mail and express mail during this year’s Singles Day holiday (Nov 11 to 16), up 35 percent from the same period last year, according to the State Post Bureau. During peak freight times, not only will the speed of logistics slow down, but also the problem of lost goods.
According to the statistics of consumer rights protection cases accepted by China e-commerce Complaints and Rights Protection Public service platform, the month after “Double 11” is the peak period of consumer complaints, and the number of consumer complaints also shows an increasing trend year by year, with a year-on-year growth of 18.60% in 2015 and 26.27% in 2016. And these hidden risks are the fertile soil of scene consumption insurance.
In the double 11 commodity sales at the same time, insurance products to ride the boom, insurance companies profit. Under the wave of Internet shopping, consumer insurance has become a powerful tool to resolve disputes in price, quality, logistics, after-sales and other links and improve consumer experience.
Consumer insurance grows as consumption upgrades
As of March 2016, the number of users receiving online insurance services has exceeded 330 million, up 42.5% year on year, according to the 2016 Analysis of Internet Insurance Consumption Behavior. The emergence of consumer insurance based on scenario-based consumption began with the return freight insurance, and the development and operation of the return insurance has been relatively mature. As users continue to increase, insurance companies have made breakthroughs in the number and type of insurance.
In recent years, Internet giants and other capitals have been scrambling for insurance licenses, from traditional life insurance, property insurance license to insurance intermediary license, all of which are hot, and BAT and other giants are even competing for the layout of consumer scene insurance. According to statistics, 117 insurance institutions operated online insurance businesses in 2016, seven more than in 2015 (110) and more than four times the number in 2011. It is reported that among the enterprises providing consumer insurance for Tmall Double 11 this year, there are 12 insurance companies covering property insurance, Ping an property insurance, China Pacific Property Insurance and China Life insurance.
With the upgrading of consumption, more innovative platforms are emerging in e-commerce, sharing, medical treatment, new retail and other fields, which further gives rise to the insurance needs of emerging scenarios and platforms. The application scenarios of scenario consumer insurance, which originally only existed in the link of Internet channel sales, become more and more tired. And with a large number of emerging scenes as the basis, return freight insurance, logistics damage insurance, genuine guarantee insurance, quality assurance insurance and other insurance types began to appear.
Up to now, the “Double 11” insurance market has a wide variety of insurance types around the “security”, such as clothing fading insurance, shoes degumming insurance, fresh rot insurance and other quality assurance insurance. Logistics damage insurance and other logistics security insurance; Cosmetics allergy insurance, diaper allergy insurance and other safety insurance types…… The types of insurance issued by e-commerce are diversifying. The types of consumer insurance for Singles’ Day also expanded from 1 at the beginning to 4 in 2015, to more than 30 in 2016, and to nearly 50 this year.
It is worth mentioning that as the Internet technology on the right track, using big data technology analysis of user’s gender, age, occupation, territorial, consumption habits, behavior characteristics, such as data, and identify potential risks under different scenarios, and analyzes the safeguard demand of users under a specific scene, let the development scene of insurance products is more and more popular with their customers. In 2016, the premium income of original insurance exceeded 3 trillion yuan, including 870 billion yuan for property insurance. The premium income of Internet insurance is about 240 billion yuan, and scenario-based consumer insurance accounts for about 10.3 billion yuan, accounting for 0.3% of the entire insurance industry.
All kinds of indications show that scene consumption insurance will become one of the development trends of Internet insurance industry. With the joining of Tencent, Alibaba, Baidu, JINGdong and other Internet giants, the exploration of scene consumer insurance will erupt in an all-round way with their huge traffic and diverse scenes.
Looking at the development momentum of consumer insurance from the Double 11 shopping Festival
With the rise of Internet tide and new economy, scene consumer insurance, as a demand-oriented innovative insurance, is attracting more and more attention. And e-commerce as a very popular consumption channel, we can see from the carnival day of this channel, to see the future of consumer insurance development momentum.
First of all, the Shopping festival is not only a change in the retail amount of goods, but also promotes the logistics and transportation, production, circulation and packaging, as well as the linkage development of multiple industries such as network security and financial payment. The emergence of scenario-based consumer insurance also enables sellers to greatly reduce the pressure of customer service and dispute handling costs, and at the same time, greatly improve the sales volume and traffic conversion rate of merchants with consumer insurance labels.
Next, today’s consumption insurance is no longer limited to compensation money, and began to cooperate with the government quality inspection, door-to-door maintenance and other service organizations, to provide consumers with prevention in advance, the guarantee service that solves the problem after the event. Through the financial instruments of insurance, consumers can be reassured, assured, safe and healthy to consume on Singles’ Day, which not only involves the issue of insurance companies to increase profits, but also can promote the benign development of the whole online consumption industry, thus driving the whole Chinese consumption.
Moreover, the demand for insurance products developed around e-commerce channels is very large, with great potential. For example, express freight dispute protection, commodity quality protection and so on. On the one hand, insurance cuts into the consumption scene, sharing risks in the consumption process in the form of insurance can stimulate the release of user demand. On the other hand, the booming Internet consumption in turn stimulates more insurance demand, brings incremental, promotes the insurance industry to constantly innovate products, and a blue sea of scene consumption insurance is coming.
In addition, as the main consumer groups of scenario consumption insurance are mainly young Internet users, and in-depth user experience is carried out among the post-80s, 90s and 00s, the consumption view is mainly light experience, interesting and interactive. However, the consumer group of traditional insurance is mainly the post-60s, 70s and 80s, and the consumption view is mainly demand, security and investment. Due to the overlapping of consumer user groups, there have been some changes in the user groups of traditional insurance and consumer insurance. In the future, with the deepening of the Internet, the mutual promotion effect of insurance and consumption will become more and more obvious.
Finally, e-commerce festivals such as Double 11 are the best and most effective way to promote consumption, which also has a profound impact on China’s consumer industry. Driven by singles’ Day, there will be more and more insurance products based on various scenarios. The improvement of big data and other innovative technologies will also provide technical support for the birth of these products. In the future, comprehensive consumer insurance based on consumer demand will have more and more potential to promote their assured consumption.
On the whole, in the era of Internet consumption, young consumers have become the main customer group of Internet insurance. Internet insurance users born in the 1980s and 1990s pay attention to whether the products are fresh, personalized, interesting and scene-like when buying insurance, and Double 11 is the peak time for young people to buy insurance. In view of the characteristics of the main customer group of Internet insurance, major insurance companies have arranged the scene consumption insurance during the Double Eleven. Driven by capital, the scene consumption insurance will meet a small peak.
Liu Kuang, meditation on the Internet, wechat official account: Liukuang110