The insurance industry is a capital-intensive, data-intensive and labor-intensive industry. It is an industry full of strong centers and multiple agencies.
Capital intensive: China's annual premium is 4 trillion yuan, oh, this figure looks familiar.
Data intensive: Your health data, your income data, etc. Your various data and the centralized data of various departments in the country have finally become the sources of insurance actuaries' data-pricing risk. Of course, some people say that insurance products and pricing are not What the actuaries decide is determined by the market and the operation. This is not an argument because it cannot change the nature of insurance that is driven by “big data”.
Manpower-intensive: There are only 15 million insurance agents nationwide, accounting for more than 1% of the population.
Strong center: In addition to a CIRC, there are 200 insurance companies, the total number is much lower than the bank; serious "2/8" phenomenon - 20% of the insurance giants occupy 80% of the market, small institutions half dead.
Multiple intermediaries: In addition to 2,300 insurance intermediaries, insurance companies themselves are intermediaries from the point of view of P2P (Personal to Personal), and they are complex.
The origin of insurance is said to be in the 14th century, but the relatively unified view is that of the 17th century Britain's "Lloyd's Club": the main form is mutual insurance with dozens of individuals, one is out of danger, and the other is sharing the expenses.
The earliest insurance is a mutual aid group that uses a similar community in the form of a specific group of people: no center, no intermediary, familiarity among members, and a strong foundation of mutual trust.
In the later period, the expansion of the scope of the crowd led to moral hazard and adverse selection, which led to some problems in the mutual assistance model. Our country is almost blank, and foreign countries have developed very well.
The "blockchain + insurance" model of a Utopia may be this:
A public chain, all of the information on the whole chain, any person can obtain your personal information under the premise of authorization, based on this data can be differentiated Insurance pricing, design, underwriting, claims and other aspects are all smart contracts automatically Execution has completely achieved the "weakening of the center" and "demediating."
This requires many "small centers" to provide services, such as: data collection, verification, verification, analysis, pricing models, risk factors, etc. Similar to Dapps one by one, to complete these tasks can be rewarded.
A few years ago, some people had the idea of “blockchain+insurance”, such as helping each other to help each other easily and help each other easily. Why did you not achieve it? There are many reasons: the verification of the authenticity of the data in the process of chain-up, the lack of risk pricing capabilities, the existing public chain does not support, various data islands, and so on.
These difficulties have affected the development of the industry. At the same time, they have also provided latecomers with the opportunity to "counterattack"!
1, temporarily do not consider too many offline insurance scenarios and business, focusing purely online scene
2. Don't use existing public chains, track new public-linked programs, and start trying on certain alliance chains
3. The early community members have as few roles as possible, as many as possible, and have the best results, and they are on-line at the same time.
4, design community incentives, you can use the pass, you can not use
5, let all people benefit, their team do Lei Feng
Insurance + blockchain, perfect match!