August 8, 2022
Because the starting of this 12 months, many Chinese language new power automobile corporations have

Because the starting of this 12 months, many Chinese language new power automobile corporations have entered the insurance coverage business via obtaining or putting in place insurance coverage agents. Some professionals have identified that new power automobile producers could make use of their very own data benefits to cut back auto insurance coverage premiums and fortify their competitiveness.

In step with business inquiry platform Tianyancha, the shareholders of Yinjian Insurance coverage Brokerage Corporate have modified not too long ago, and the unique shareholders have withdrawn. The corporate is wholly-owned via Chehejia Monetary Generation (Jiangsu) Co., Ltd. It’s proven that the trade scope of Yinjian contains drawing up insurance coverage for candidates, deciding on insurers, and going via insurance coverage procedures. Chehejia Monetary Generation (Jiangsu) Co., Ltd. is a subsidiary of Beijing Chehejia Car Generation Co., Ltd., and the emblem of Beijing Chehejia is Li Auto. In different phrases, Li Auto has got insurance coverage dealer licenses.

Actually, new power automobile corporations had been coming into the insurance coverage marketplace for a very long time, and this 12 months they’ve made numerous choices. In July 2018, XPeng Motors registered and established Guangzhou XPeng Motors Insurance coverage Company Co., Ltd. In August 2020, Tesla registered and established Tesla Insurance coverage Brokerage Co., Ltd. In January this 12 months, NIO Insurance coverage Dealer Co., Ltd. was once established. In March, BYD Insurance coverage Brokerage Co., Ltd. was once established.

Automotive corporations have entered the marketplace one after some other and competed for the brand new power automobile insurance coverage marketplace. The New Power Automobile Business Construction Plan (2021-2035) issues out that via 2025, the gross sales of new power automobiles are anticipated to make up about 20% of overall new automotive gross sales. In December 2021, unique automotive insurance coverage for brand spanking new power automobiles was once formally introduced. Whilst the promises greater, the top class building up of a few manufacturers was once ridiculed. Cui Dongshu, Secretary-Normal of the China Passenger Automotive Affiliation, issued a file in January this 12 months suggesting that automotive corporations must be inspired to ascertain their very own insurance coverage sorts, enlarge their insurance coverage trade and identify their very own low-premium insurance coverage methods supported via information.

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In step with a record via Ping An Securities, new power automobile insurance coverage is the most important a part of the ecological chain of vehicle corporations, serving to to present complete play to some great benefits of automotive corporations in information and era. New power automobiles basically undertake a right away gross sales style, and thru gross sales in buying groceries shops or on-line gross sales, automotive corporations have shut touch with shoppers. On the identical time, automotive corporations enlarge automotive aftermarket companies comparable to automotive upkeep and service, agreement of claims, and automotive finance.

In comparison with conventional insurance coverage corporations, new power automobile corporations have upper prices and potency in acquiring information, which will reach correct pricing, give complete play to price benefits, and supply decrease premiums. What’s extra, the usage of the knowledge generated via cars to procedure insurance coverage will a great deal fortify the declare processing velocity and shorten the declare processing cycle. The twin benefits of value and revel in lend a hand to draw extra shoppers.