Study On The Business Model Of Zhongan Insurance Company Under Blockchain Technology

Since 2011,our country's Internet insurance industry has achieved rapid development,and professional Internet insurance companies operating purely online have continued to emerge.Compared with traditional insurance companies,professional Internet insurance companies,as a brand-new business model,have increased their market share year by year and their influence has increased day by day,and will become the main business model for the future development of our country's Internet insurance.The rapid development and application of blockchain technology can enable its unique technical advantages to seamlessly connect with Internet insurance in underwriting and claim settlement,and can effectively avoid privacy leakage and morality in the development of Internet insurance,it can promote Internet insurance companies to reduce costs and increase efficiency,and it is bound to have a huge impact on the development of my country's Internet insurance industry.In view of this,this article selects Zhongan Online Property Insurance Co.,Ltd.(hereinafter referred to as "Zhongan Insurance")as the research object.On the one hand,it is the first professional Internet insurance company in our country,which is representative and has high research value;on the other hand,because blockchain technology has been applied to all aspects of its business process,it has certain practical significance.This article mainly uses case analysis to analyze and summarize Zhongan Insurance's application of blockchain technology to improve its business model.First,this article systematically discusses the connotation,core technologies and other theories of blockchain;secondly,on the basis of clarifying the connotation,characteristics and business models of Internet insurance,it analyzes the impact of blockchain technology on Internet insurance companies;Then,combining the above theoretical analysis with the actual case of Zhongan Insurance,it specifically analyzes the innovations and existing problems and causes of Zhongan Insurance in the business model under the application of blockchain technology,and proposes corresponding improvement suggestions.Through analysis and demonstration,this article draws the following main conclusions: firstly,blockchain technology has promoted Zhongan Insurance to achieve innovative development in product design,marketing,claim,reinsurance,and operation,thereby reducing costs and increasing efficiency;secondly,while promoting business innovation,enterprises are also facing the problems of lack of technical support,difficult to distinguish the authenticity of data,serious product homogeneity,strengthened supervision,high complaint rate,and high marketing costs.Investigating the reasons,it mainly lies in the difficulty of technological breakthrough,insufficient data reserve,emphasis on sale rather than innovation,excessive product iteration and false marketing,insufficient bargaining advantage and more comprehensive supervision;finally,in view of the above problems and causes,put forward to corresponding improvement suggestions from the perspectives of enterprise and regulatory agency.