Research On The Individual Development Strategy Of China's Auto Insurance Products

With the rapid development of China's economy and society,people's income increases significantly and it's common to see automobile in the field of production and our daily life.Especially in the developed regions of China, the demand for cars is rising, the automotive industry in the small and medium-sized cities is also growing, the automobile for people's life has become ever more necessary.Under the rapid development of China's automobile industry, the number of cars soared and the market of auto insurance products has developed fast, auto insurance already become the leading property insurance of China's insurance market,the premium income of auto insurance has accounted for more than 70% of the total property insurance,it is the lifeline of the property insurance company.In view of this, the profit and loss of the auto insurance products, will directly affect the business performance of the property insurance company in China, thereby affect the development of the whole insurance industry.At present,in the mode of the market economy in constant development,at the same time, China's insurance industry is out of the reform of commercial auto insurance, auto insurance business model innovation, Internet insurance,car networking application and exploration of the critical period, China's auto insurance is facing enormous opportunity and challenge,therefore, some of the existing auto insurance products have been difficult to adapt to the development requirements of the new situation, the protection features of risk have also been unable to meet market demand and people's need for differentiation of auto insurance pruducts, in this case, the insurance products become the "bottleneck" of restricting auto insurance business development. In order to solve this problem, to adapt to the development of the new situation,we need to reform the existing auto insurance products,starting from the product itself, the paper analyzes the product terms and pricing, as soon as possible differences in the auto insurance products, and meet people's needsof diversified and personalized auto insurance needs.Therefore, in order to enrich insurance market of China, achieving auto insurance products from "from the car" to "from the people", and ultimately achieving auto insurance products and user personalization, differentiation, this paper conducts an in-depth analysis of the existing insurance market, proposing that the insurance products need personalized business strategy,so as to realize the auto insurance products healthy and sustainable development.Based on the related research of domestic scholars,firstly,this paper introduces the development of the whole insurance industry and the type of the auto insurance products.Secondly,based on the introduction of the existing auto insurance products,this paper points out the problems existing in China's insurance products that the homogenization of products and the inadequate personalized of terms,analyzes the root of the problem,then pointed out the necessity and urgency of personalized development of China's auto insurance products. At the same time,in view of the existing problems in the auto insurance products,from insurance products and insurance market,it puts forward the strategy of the personalized development of China's auto insurance products.Finally,the text gives a brief summary, and combines with the actual situation of China, for the development of China's auto insurance products puts forward some prospects and provides certain reference. In addition,innovations and features of this study lies in: First, from the current situation of the development of China's auto insurance,start with a certain industry data analysis, and mainly from the auto insurance products, through literature research, theoretical analysis and other research methods, for the current insurance market and customer needs an in-depth analysis, and for the different customer groups, we put forward reasonable suggestions for meet the needs of auto insurance, meanwhile,combine the Internet and big data with the auto insurance products, for insurance companies especially the development of auto insurance products raise personalized suggestions.