Research On The Innovation Of Internet Insurance Products In China

With the rapid rise of Internet and e-commerce,Internet insurance has ushered in a great opportunity for development,and Internet insurance business has developed rapidly.Due to the fierce competition in the insurance market,some insurance companies and third parties have been actively exploring development opportunities and seeking innovation and transformation in product design,operation,sales,service and other aspects.Therefore,innovation has extraordinary significance for the development of Internet insurance products.But the Internet and in the traditional sense of the insurance and insurance are quite different,the insurance is not only the Internet would be offline product handling to online,but the Internet and the integration of insurance,strengthen the cooperation with other industries,so the powerful system via the Internet,to make the insurance industry in the past can't sales scenario,cannot solve the problem is resolved,resulting in a new demands and new business.Insurance companies need to develop products based on personalization,specificity and decentralization,so as to prevent risks to the greatest extent and meet the latest needs of customers.This puts forward high requirements for the market response,product research and development,initiative and service capability of insurance companies.Not only that,the whole support system,from APP,weibo,website,WeChat and even the whole business system,must adapt to the customer-centric rather than policy-centric operation mode.Therefore,in the era of "Internet plus",insurance product innovation has become an important link for the insurance industry to further deepen reform and develop rapidly.In the context of both opportunities and challenges and in the context of "Internet +",how to complete product innovation is the research focus of this paper.This paper consists of five parts.The first part takes micro health insurance as an example,introduces the case of micro health insurance and its innovation differences from other products in detail,further elaborates the significance of continuous innovation of Internet insurance products,and then describes the current situation of the development of Internet insurance products in the Chinese market.Based on the nature and characteristics of insurance and Internet insurance,combined with a series of insurance knowledge,this paper analyzes some problems existing in the innovation of Internetinsurance products.The factors affecting the sustainable and healthy development of Internet insurance products were studied,For example,the product variety is unitary,the homogenization phenomenon is serious,has appeared many such as the Mid-Autumn full moon insurance,the fog haze insurance,the passenger car lottery number danger and so on the pseudo-innovation product,even some insurance products seriously violated the insurance most basic principle.After that,it also drew lessons from the experience of Internet insurance product innovation in developed countries such as the United States,Britain and Japan,from which it gained a lot of inspirations,such as the need to further strengthen the regulatory system and expand sales channels.Finally,in order to promote the further innovation of Internet insurance products in China,some relevant countermeasures are put forward.