Research On The New Business Model Of Small Property Insurance Companies Based On The Internet Background

China's property insurance industry is faced with many problems such as multiple market competitors,single business model and serious product homogeneity,and its market share is mainly concentrated in large and medium-sized property insurance companies.For small property insurance companies,they have been established for a short time and are at a disadvantage in terms of capital strength,brand awareness and business scope.Therefore,it is very difficult for them to survive and develop.In order to achieve sustainable and healthy development,small property insurance companies need to explore new business models in line with their own development.The development of the Internet has had a huge impact on many industries.It not only improves the efficiency of work and life,promotes social development,but also transforms work and life style,and even innovates our thinking.With the rapid development of Internet finance,concepts such as P2 P lending,third party payment and virtual currency emerge in endlessly.The Internet,big data,artificial intelligence and block chain have also made an enormous impact on the insurance industry.Whether small property insurance companies can seize the opportunity of rapid development of mobile Internet and explore new business models with Internet tools and thinking is the key to their sustainable and healthy development.This paper mainly explores and develops new business models of small property insurance companies under the background of Internet by literature research method and case study method.It firstly analyzes the current situation of the property insurance industry and Internet insurance industry,and conducts PEST and SWOT analyses on small property insurance companies to conclude that small property insurance companies need to explore the necessity of new business models.Secondly,relevant literature and theories about Internet insurance and the development of small property insurance companies at home and abroad are summarized and studied to build a new internet-based business model in line with the development of small property insurance companies.This business model is composed of scene insurance,platform insurance and ecological insurance.Starting from scene insurance,platform capability is accumulated and then fed back into insurance products to serve the whole ecology.Taking a property insurance company as an example again,the rationality and feasibility of this business model are analyzed respectively from the case of scene insurance,platform insurance and ecological insurance,providing guidance to explore new business models for other small property insurance companies.Finally through the exploration and case analysis to new business model,some proposals are offered to the new business model of small property insurance companies based on the Internet,such as exploring the new business model by the Internet,making use of science and technology to energize the insurance,building the Internet team and organization,taking key development of scene insurance and focusing on market segment and the long-tailed market,etc.The paper is in line with the current situation of new business models of small property insurance companies under the background of the Internet.It has strong practical significance and is also helpful for property insurance companies to have better enlightenment on the development of new business models of the Internet.