What is the current trend of the insurance industry, and what is the development status and future t

Let's talk about China's insurance industry, the reason why China's insurance industry makes people scoff, is not that insurance is bad, but the overall quality of people who do insurance is not high, now Chinese Life is developing a team of college students, requiring high-quality people to engage in the insurance industry, once the insurance industry has a standard, then it will soon develop. In addition, not everyone is suitable to buy the same kind of insurance, which means that no insurance is hot, everyone buys it, as an insurance practitioner may rarely tell you that you are not suitable to buy this, and if you are suitable to buy that, he may not say a word, as long as you buy him happy; In fact, there are many types of insurance, and they vary from person to person. Although insurance is a product of taking risks, blindly pursuing hot-selling products will not only fail to protect the function, but will become a burden.

Therefore, if you really choose the insurance industry, I hope you can take every customer seriously, and I hope you can succeed in such a big industry and win applause!

With the continuous development of society, the people's living standards continue to improve, the people's risk awareness has been greatly improved, people buy insurance has not been as single as in the past, has developed into a diversified choice of insurance as a financial project to treat, so insurance is a sunny industry, full of vitality! However, the insurance industry is one of the most challenging industries, and there is a famous saying in the insurance industry: [one year insurance three people]; This sentence represents the working situation of insurance practitioners and is not an exaggeration at all; My opinion is:

Confidence is not necessarily success, and no confidence is definitely failure]!

Only 30 percent of people in China have insurance. Hong Kong is 120 percent and Japan is 700 percent. You see this data clearly shows that Chinese's insurance awareness is relatively low, but it is increasing year by year, because insurance is a preparation for us in the future.

So the outlook for insurance in China is very good.

Hello! It should get better and better!

Hello, as long as all industries are attentive, they will get better and better!

The development status and future trends of the insurance industry:

1. More and more medium-sized enterprises will enter the market and continue to compete, insurance companies will upgrade themselves in terms of products and services, and more and more insurance companies. In the later stage of development, the competition is becoming more and more fierce, and the cost-effectiveness and professionalism of the products are also getting higher and higher.

2. Separation of production and marketing. At present, the professionalism and professionalism of insurance practitioners can no longer meet the growing insurance needs of our customers. In 10 years, a large number of high-quality talents will appear in the insurance industry, and the country will also have a supporting vocational qualification certification system.

3. Insurance companies will improve their investment capabilities, pursue differentiated development, and build their own ecology. Taikang Insurance Taiping Insurance has begun to build a pension community, which solves the future pension problem of people who can afford to pay the same level of premiums. People with the same income level will live together in the future.

4. Wearable devices and Internet of Things technology provide a more accurate model and data basis for the risk assessment of insurance targets. Now there is a company that meets the daily walking step standard, and the premium is discounted for the second year. The healthier the customer, the later the claim will be, the longer the insurance company will have to invest in the premium, and the more dividends the customer will receive at the end of the claim or surrender.

5. Big data also provides a risk pricing basis for customized, personalized and fragmented products, with richer products and more accurate positioning.

6. With the development of society, our way of life is also changing, so the risks that people are worried about may be unexpected. For example, the popular bicycle sharing in recent years has corresponding special bicycle sharing insurance, as well as virtual property insurance.

The choice of customers will be bigger and bigger, after all, in the Internet age, anything can be. The professionalism of insurance people is the only way, that is, to establish a personal brand. Those who are unreliable, only care about performance, and do not care about the interests of customers will gradually be eliminated.

Ranked second in the world in terms of premium income

In the past 15 years, the total premium income of China's insurance industry has generally shown an upward trend, and the promulgation of the "National Ten Measures" in 2006 and 2014 and the "New National Ten Measures" in 2014 has promoted the rapid growth of the insurance industry. In 2021, under the background of the new crown epidemic and the comprehensive reform of motor insurance, the trend of increasing the original premium income year by year was broken, and the total annual premium income was 4.49 trillion yuan, a year-on-year decrease of 35.7 billion yuan.

Since 2017, China's premium income surpassed Japan's, China has occupied the position of the world's second premium market for five consecutive years, and is gradually opening up the distance from Japan, although there is still a large gap with the United States, which ranks first, but China has become the backbone of the world insurance market.

Note: Some countries and regions have not yet released 2021 premium income data.

There is an imbalance in the income structure

From the perspective of premium income structure, in 2021, China's life insurance premium income will be 3,322.9 billion yuan, accounting for 74%, and property insurance premium income will be 1,167.1 billion yuan, accounting for 26%.

There is still room for growth in insurance density and insurance depth

Since 2010, China's insurance density has grown rapidly, and the gap between China's insurance density and the global average insurance density has been narrowing. In 2021, China's insurance density was US$520, compared to the global average of US$661.

In the past five years, the global average insurance depth has generally shown a slight and steady downward trend, while China's insurance depth has also shown a fluctuating downward trend, and the gap has not narrowed compared with the global average. In 2021, China's insurance depth is the global average insurance depth, while the insurance depth of developed countries such as the United States and the United Kingdom remains above 10%, and China's insurance depth still has a lot of room for growth.

——The above data refer to the Prospective Industry Research Institute"Analysis Report on Market Prospect and Investment Planning of China's Insurance Industry".

——The following data ** in the Prospective Industry Research Institute"Analysis Report on Market Prospect and Investment Planning of China's Insurance Industry".

The pandemic has accelerated the conversion rate of online insuranceWith the vigorous development of the Internet, the insurance industry continues to innovate sales channels, and insurance companies are actively developing new insurance products, and actively adjusting and standardizing their development according to regulatory requirements. According to the Insurance Association of China, China's Internet insurance premium income reached 100 million yuan in 2019, accounting for the total premium of the industry, an increase from 2018.

Note: The outer ring is 2019 and the inner ring is 2018.

The integration of online and offline business in the insurance industry will become the general trendHowever, after the epidemic, the consumer behavior of the insurance industry will gradually move towards online, mainly due to the small contact and convenience of online transactions, but it is worth noting that the transformation of the transaction mode of the insurance industry to online does not mean giving up offline resources, but to promote the integration of offline and online resources, and simplify the process of insurance sales and claims. Provide higher service to customers. Finally, with the rapid development of China's Internet, 5G and other technologies, insurance companies will continue to deploy data-based operations to improve operational efficiency.

Extended reading: [Insurance] How to buy, which one is better, teach you to avoid these insurance"pits"

Extended reading: [Insurance] How to buy, which one is better, teach you to avoid these insurance"pits"

Major listed companies in the insurance industry:Ping An of China (China Taibao (Xinhua Insurance (Chinese Life Insurance (Chinese Insurance (etc.)

1. The development process of Ant Mutual Treasure

In October 2018, Ant Group and Xinmei Life Insurance jointly launched "Mutual Insurance", and two months later, Ant Group announced that "Mutual Insurance" had been renamed "Mutual Insurance". During this period, Xinmei Life Insurance withdrew, and Hubao changed from the previous joint operation to independent operation. This means that Hubao is no longer underwritten by an insurance company, but only a mutual aid organization initiated by Ant Group.

By the end of 2021, Hubao announced that the mutual aid program would cease to operate on January 28. From the date of the announcement, members will no longer participate in mutual aid sharing. Sick members who were diagnosed before the shutdown can still apply for mutual aid, and the mutual aid fund will be borne by the Mutual Treasure platform.

2. The development of Ant Mutual Treasure

According to public data, since its launch in 2018, Hubao has grown rapidly by more than 100 million people in one year, with the post-90s and post-80s as the main force, and nearly one-third of the members are from rural areas and counties, and nearly 6 percent of the members are from third-tier cities and below.

However, in the past year, affected by changes in the industry environment and other factors, the operation of Hubao and other network mutual aid programs has experienced **. Judging from the latest public apportionment information, the current membership scale of Hubao is nearly 75 million, and a total of 71 phases of mutual aid have been completed, helping more than 10,000 sick members.

3. The growth rate of the Internet insurance industry has slowed down

As a new medical security model that has only emerged in the past two years, although online mutual aid provides an additional health insurance option for ordinary residents, it has also exposed problems such as insurance fraud, and management loopholes still exist. Since the beginning of 2021, 10 mutual aid platforms, including Meituan Mutual, Shuidi Mutual, and Easy Mutual, have successively announced their closure. Hubao is the last large-scale online mutual aid platform to announce its closure.

Looking at the development of the number of insurance companies, the number of enterprises engaged in Internet insurance business in China showed a rapid growth trend from 2012 to 2016, and since 2017, the number of Internet insurance companies has declined due to stricter national regulatory policies, and then showed fluctuations. In 2020, there were a total of 134 internet insurance companies, of which 61 were involved in internet life insurance and 73 were involved in internet property insurance.

In 2020, due to the comprehensive impact of the epidemic, the comprehensive reform of auto insurance, the reform of accident insurance, the new regulations on credit guarantee insurance and other regulatory factors, the cumulative premium income of Internet property insurance was 100 million yuan, a year-on-year decline, nearly 9 percentage points lower than the growth rate of the property insurance market in the same period; The cumulative number of policies underwritten by Internet property insurance was 100 million, a year-on-year decrease.

In 2020, the online life insurance business continued to maintain steady growth, with a cumulative scale premium of 100 million yuan, a year-on-year increase. From the perspective of the growth rate of scale premiums, 40 life insurance companies have achieved positive growth in scale premiums to varying degrees, among which Minsheng Insurance and Xintai Life Insurance have the largest growth.

To sum up, network mutual aid has the nature of experimentation and exploration in China, but in contrast, commercial insurance with clear regulation and more mature operation is a better choice for users.

Development status: From its birth to the present, insurance has become an important means of modern economic and social risk management, and an important part of the modern financial system and social security system.

Future trend: In developed countries, insurance has penetrated into all levels of social production and life, providing people with "cradle-to-grave" insurance services.

Insurance is playing an increasingly important role in the modern economy and society:

1. The insurance industry is an important industry in the modern economy.

2. The insurance industry is an important pillar of the modern financial industry, and the insurance industry, together with the banking industry and the first industry, together constitute the three pillars of the modern financial industry.

3. Insurance is an important means of social risk management, and from the perspective of development trends, the insurance industry will play a more important role in the global risk management system.

4. The insurance industry is an important part of the social security system.

The basic situation of the reform and development of China's insurance industry:

The insurance industry has not been developing in China for a long time, but the speed of development is amazing. As a sunrise industry, China's insurance industry is in a period of rapid growth, business expansion is very fast, coupled with the influx of foreign insurance companies, the prosperity of the industry, the increase of market players, the arrival of the demographic dividend period, the update of investment and financial concepts, the insurance industry has also received more and more attention.

Insurance, as the name suggests, is to protect people in their daily lives, and insurance has a long history of development in the world.

Once something happens to the policyholder, the insurer will compensate it, thereby reducing the pressure on the policyholder's life and allowing more and more people to be protected.

What is the current development status of the insurance industry, we can look at it from four aspects:

1.The total size of insurance assets

In recent years, the total assets of our insurance industry have continued to grow.

Friends who pay attention to ** should know that ** has a name for insurance capital "barbarian".

It can also be seen that the influence of insurance assets is huge.

According to the statistics of the China Banking and Insurance Regulatory Commission, the total assets of China's insurance industry reached one trillion yuan in 2021, a year-on-year increase.

2.The use of insurance funds

At present, there are many fields of use of insurance funds, in addition to the **** mentioned above, there are bonds, bank deposits, etc.

Among them, bonds were 9,068.3 billion yuan, accounting for 9,068.3 billion yuan; **and**Investment**2,950.5 billion yuan, proportion; Bank deposits were 2,617.9 billion yuan, accounting for the total.

3.Raw premium income of the insurance industry

Insurance can be classified into two categories according to the subject matter of insurance, one is life insurance, and the other is property insurance.

According to the statistics of the China Banking and Insurance Regulatory Commission, the total premium income of the former was 3,322.9 billion yuan, and the latter was 1,167.1 billion yuan.

Obviously, life insurance accounts for the majority of the original insurance premium income.

4.Number of insurance policies

In the past three years, the number of insurance policies in China's insurance industry has been 100 million, 100 million and 48.9 billion respectively.

5.Insurance payouts

In 2021, the original insurance compensation expenditure of China's insurance industry reached 1,560.9 billion yuan, a year-on-year increase.

Among them, the original premium expenditure of property insurance was 768.8 billion yuan, accounting for 768.8 billion yuan; The original premium expenditure of life insurance was 792.1 billion yuan, accounting for 792.1 billion yuan.

From the current point of view, the development of the insurance industry is still relatively rapid, so what is the future trend?

Daddy thinks that the sales channels of insurance may change in the future, such as the Internet will become mainstream.

If you have any doubts, you can consult your daddy.