I believe many of my friends have to buy Auto insurance experience, know that even if you buy in the United States only to pay high insurance, Car damage insurance, third party liability insurance, non-deductible, insurance ride the five most basic Insurance, also spend thousands of dollars, even thousands of dollars.
can be most frustrating Is that even if your Car every day lying at home sleeping, insurance costs are still charging by the day. It’s like having a buffet for the same price some people eat out three people, and no matter how you spell can only plug the next one and a half steak.
So, Is there a little flexible personalized insurance services?
really have, today, we have to introduce in the United UBI in the field of Internet Auto insurance company Metromile, the company broke the traditional Auto insurance unitary pricing model, according to personalized mileage charges.
First, based on the driving behavior of the insurance
speaking, Metromile thIs pricing model, just to solve the user of thIs embarrassed and helpless pain points:
as a result, you no longer need a long time not on the road the Car cost;
and secondly, from the dangerous condition payout probability dIstribution point of view, equivalent to safety before the driver always good for high-rIsk drivers pay, but not now.
Metromile company Is how to do it?
We have just mentioned a word, called UBI, let me explain:
UBI refers to the Usage Based Insurance, translated into Chinese Is the “driving behavior based on the user’s safety.”
To put it plainly, it Is to use a technique for real-time tracking and monitoring you. Safe driving people, natural premium dIscount, but the driver must bear the high rIsk of higher insurance prices.
Metromile use the Car OBD, that Is, on-board diagnosticsOff interface system to call record data traffic, such as mileage, sharp turns, braking, speed overtaking, keep records of driving behavior data provide the basIs for subsequent design insurance products.
Second, metered type of insurance
whether thIs Is a what kind of company do?
Let’s take a look:
In 2011, Metromile founded in San FrancIsco.
Interestingly, there Is no relevant experience in the field of insurance of any of its CEO and co-founder Dan Preston before, but he Is a rich in machine learning and computer science background data experts, that Is to say, he was a product or industry data for deep insights into how to find reinvent.
Perhaps it Is because they have such a background, Metromile only creativity and invention of metered-type insurance.
So, thIs type of insurance are metered exactly how to calculate it?
First, it consIsts of base fees and mileage fees in two parts.
For example, your cost basIs Is $ 30, mileage costs 4 cents / mile, thIs month your Car ran a total of 500 miles, then the mileage fee would be $ 20, that Is your total premiums thIs month Is 30 plus 20 equals $ 50.
In addition, it Will also set different mileage limit states according to circumstances, such as the Washington area Is 250 miles, if your day Is not more mileage over 250 miles to pay a premium.
ThIs approach Is setting the actuarial rIsk of driving the Car, in general, Is certainly open more, the higher the rIsk.
It Is noted that about half of the basIs of only the traditional set premiums Metromile normal premiums. Also setting the upper limit of the daily rate, Is the rate-limiting and can be depending on the region where the user users each dayDriving estimated maximum time, which Is set neither loss of the company’s interests, letting policyholders have a sense of security, you can get an idea of the highest premium daily.
In short, Metromile allow most users of low mileage, a year down to save about $ 500.
three, Metromile operation mode
be implemented in three main areas:
The first aspect Is the exact mileage recorded data.
Among the many driving behavior data, Metromile only focus on the location information data, they are to buy insurance to provide the user a price of $ 100 free OBD device called Metromile Pulse, As long as the user of the same name in the mobile phone upload good App, you can get the Car to run real-time data acquIsition of OBD.
Metromile pulse of App and hardware
installation of the first day, every time you boot from, each trip information Will be detailed records to the phone, over the Internet to the cloud server, all data used to calculate premiums for customers Is transparent and open.
and you can see every day with the traditional Auto insurance savings compared to the cost, which makes you feel “fair, just and open”, but also cost-effective.
The second aspect, Metromile while saving premiums, but also for the driver to provide a lot of value-added services.
You can use Metromile Pulse App enjoyment of other services and locations related, such as locating your Car in the parking lot, to detect the health of the Car, providing optimal navigation route, a key to find nearby repair company, street cleaning No parking tips, and check if the Car has a ticket and so on, in short, very convenient.
Why Is it called street cleaning parking ban prompted it?
In the United States, there are many places to allow street parking, but there Is always a period of one week half-day, to do thIs place clean, which for a long time can not park here, a lot of people because forgot to move the Car, which received a ticket.
The third aspect, Metromile Is also working to train potential users’ habits.
If the customer downloaded Metromile software, but do not want to buy insurance, it does not matter, Metromile to people in the client application to send free Metromile Tag hardware called.
two types of hardware devices Metromile provided free of
ThIs device can be called iBeacon low-power Bluetooth wireless and Internet technology by means of a connected to the phone, put it in the Car, also can record all the basic information, but the accuracy Is not so high.
In fact, doing so Is the potential in the culture of insurance consumer behavior, resulting in high vIscosity, and thus become their future customers.
Fourth, according to the odometer premiums advantage
Complete understanding of Metromile specific operation, below, we have to analyze about the advantages of thIs mode of operation where?
In my opinion, the same three things:
First, tailor-made insurance program to allow customers to drive low mileage can be more fair pay premiums, of course, high travel people naturally pay more. So, insurance companies, total income has little effect, but let’s be more reasonable dIstribution of the premium;
Second, in accordance with the odometer premium policy, according to statIstics, Metromile More than half of customers have consciously reduced the mileage, it also means that the overall rate of Auto insurance while reducing the dangerous condition, the equivalent of saving a substantial premium paid by the company;
Third, Metromile of LBS mode, EnglIsh name Is Location Based Service, which Is location-based services, with the Car networking and big data, all the scenes have been digitized, providing customers with personalized service.
On the third point, we need to Carefully talk about.
Fifth, accurate Auto insurance services
Uber shared economic model with Metromile cooperation Is a good example.
First of all, when private owners became Uber driver, because private owners have a dual identity and taxi drivers, so naturally increased insurance costs.
On the one hand, most of the traditional insurance companies are no longer Willing to provide them with Auto insurance service, in time the owner for personal use, it Is a marked absence of insurance;
On the other hand, Uber does not provide appropriate insurance to the owners.
we say that thIs Is the emergence of economic trends in the share of “new scene.”
again lIsten to a famous case:
in 2013, there Is a driver on the Uber platform, at the crossroads of San FrancIsco hit a , 6-year-old Sofia Liu eventual death, hIs mother and brother were also injured.
The driver had already opened the mobile client Uber, while driving a Car, while waiting to send a single, but then the Car and no passengers.
For thIs situation, Uber company argued that:
At that time state the name of the driver
Is uninsured, because from a technical perspective he did not provide services to companies Uber, Uber it should not take the responsibility.
Thus, thIs period of insurance products, became one would dare to assume “blind spot.”
because thIs thing, and even modify local laws requiring motorIsts to share must have insurance at any time, but until 2015 Metromile cooperation with Uber, it provides the driver with a 7 × 24-hour insurance.
back to our third point advantage just said, the most basic Car can get basic data networking Automobile mileage, braking, fuel and other, more advanced vehicle networking can also know more data, such as the owner who, what, when, and so on where to get off.
Metromile Car networking technology, can clearly dIstinguIsh the owner of the Car scene, then responsible for private Car insurance by the Metromile, Uber undertake other commercial insurance period.
In general, Metromile major success Is that it Is based on big data and vehicle networking technology, more detailed, in-depth insight into the needs of users in the new scenario, thus providing more efficient , more accurate insurance services.
Six reasons the United States Is difficult to promote the
The question then again, since personalized Auto insurance so good , Why from 2013 onwards vehicle networking start, it did not Carry out a large scale in the United States?
I think there are three main reasons:
First, the data collected Is not enough, there Is no actuarial data-based model.
US Auto market than the United States complex, multi-Car, hybrid species, with a brand OBD some open interfaces, some do not open, and some only partially open, data formats different. Moreover, a private insurance company wants to collected data, the cost Is very high;
Second, although the United States has a large number of owners of traditional insurance company data and information, but it can not be accurate portrait of the user.
Since the conventionalThe main data Is identity information, income information and claims information, which Is not directly related to the behavior of the driver, for UBI Auto insurance, these messages are of little use.
Third, the domestic sales price of Auto insurance Is still in a state of war.
Domestic Car owners are most concerned about Auto insurance and premium rebate. In fact, in 2013, the United States also appeared OBD vehicle networking related service companies, such as Tencent Lobo, Cars hiking, etc., they are involved in insurance business, but are less successful. From the public point of view, on the one hand does not know whether the OBD technology Is really useful, but there are concerns in the Car to install a tracking locator, by whom that data privacy protection?
However, according to the National Bureau of StatIstics:
2020, the US Auto insurance Will have a 25% -30% of UBI Auto insurance and the size of the market may be at 300 billion yuan -4000 million.
and Is based on the development of Auto insurance UBI obtain sufficient user behavior data.
Of course, the means can be varied, for example, now computer vIsion and communication technology development, customers do not have to load anything on the Car, using a mobile phone in front of the dashboard take a picture to upload you can know important information on mileage, fuel consumption and so on. These are the future exploration of UBI Auto insurance.