Zhang Teng, CEO of Camel Planning: Insurance brokers contain huge room for development 2C sales are transforming to high-end

In 2020, the sudden epidemic broke people's normal life, the global economy surged and changed, uncertainty rose sharply, China's financial industry encountered great challenges, and it was also this year that bank wealth management subsidiaries turned out to be born, financial technology empowerment was in full swing, wealth management transformation was surging and the fund industry ushered in an unprecedented outlet. On December 10th, the 5th International Forum on Intelligent Finance and the 2020 Annual Ceremony of The Leading Financial Sector hosted by the financial community were held in Beijing, and 100 big names in the financial industry gathered together to conduct in-depth and pragmatic discussions and exchanges on topics such as the digital transformation and development of the financial industry, the application of financial technology in the field of wealth management, the era of public funds, and the future of pension finance.

As a new type of insurance brokerage company in the industry, Camel Planning was invited to attend the ceremony and won the "2020 Pilot China Annual Selection Outstanding FinTech Innovation Award". At the same time, Zhang Teng, CEO of Camel Planning, delivered a keynote speech at the "Insurance Parallel Forum • 2020 Yanshu Tea Party Annual Conference" with the theme of "New Track for Pension, New Opportunities for Insurance".

Zhang Teng, CEO of Camel Planning

Zhang Teng said that Camel Planning is an insurance brokerage company that is committed to building an objective and neutral third-party protection planning platform. In Zhang Teng's view, insurance brokers contain huge room for development.

She introduced that in the domestic insurance industry as a whole 2C sales end, insurance brokers accounted for about 12%-13% of the overall proportion in 2018. In the Uk in 2017, the contribution of the entire life insurance new policy, insurance brokers accounted for 70%. In the 2018 U.S. market, independent agents contributed more than 50 percent of their lives, similar to our role as insurance brokers.

From the perspective of the development process of life insurance in the entire international market, there is also a certain reference significance. Before the 1970s and 1980s, the U.S. market was dominated by life insurance. However, with the social changes of the aging population, coupled with the stimulation of some policies such as taxation, the annuity category and the commercial health category have gradually occupied a dominant position in recent years. Like an insurance data in the United States in 2018, annuity insurance accounted for more than 45%, and commercial health insurance accounted for more than 30%. "We believe that such changes are also happening in China," Zhang said.

At the same time, Zhang Teng also mentioned how technology can better empower the insurance industry. At the sales end, through the form of technology, more professional consulting services can cover more families with different incomes; based on scene mining and unique data acquisition, to reverse support actuarial calculation and pricing, according to the risk characteristics and needs of different groups, product innovation and services; through software and hardware systems, big data and other scientific and technological services, improve and enhance the claims link of anti-fraud, automated calculation, fast compensation, etc., technology is changing all aspects of the insurance industry chain.

As a new type of insurance brokerage company with Internet genes, Zhang Teng said that Camel Planning empowers customers through intelligent insurance, helps customers achieve scientific risk assessment, and helps them achieve more accurate product planning and matching. Through the improvement of big data and artificial intelligence, we help customers improve the overall service experience. Empower their own insurance planners through the digital whole process, so that they can efficiently reach and serve more customers.

Zhang Teng shared that in the past two years, the 2C sales end has been transforming to high-end, and the intervention of the Internet is also forcing traditional channels and services to change, making some relatively complex products more simple and more suitable for Internet users.