â€œYou imagine that in a car accident, the driver was seriously injured. At this time, the insurance company pushed on the basis of information from the on-board sensors and actively called out through the on-board system. Data analysis was used to calculate the injury and make emergency preparations. At the same time, it was judged by sensors. The location and degree of impact will generate pre-filled damage information and send it to a nearby repair shop for repair. Such a scenario is not an expectation for the future, but our actual operation.â€ CCC Information Services Inc. (hereinafter referred to as CCCIS) Senior Group Vice President and General Manager of China, Hou Tong, vividly described the practical case of the Internet of Vehicles as a reporter of China Insurance News.
CCCIS is a US insurance technology company established nearly 40 years ago. It initially focused on providing accurate basic data and risk control systems with strong control and control capabilities for insurance companies. It has gradually become the leader in the industry and currently serves 500 auto insurance companies in the United States. 70% (22 of the top 25 property insurance companies use the CCCIS system).
In 2010, CCCIS started to deepen its efforts in the Chinese market. Cooperation with domestic insurance companies began in two years. â€œIn the past two years, we focused on research and development because the situation of the auto insurance market in the United States and China is very different. Therefore, we must carry out the localization of R&D and delivery so as to be closer to the actual needs of the Chinese market and better help domestic insurance. The company optimized its auto insurance claims management, risk control rules, and business intelligence analysis platform."
In his opinion, the different stages of development of the auto insurance market are not the same as the indicators of cost, cost, timeliness, and customer satisfaction. Therefore, it is necessary to design an operational process, control rules, and a risk control model that meet the current management objectives. Keep your management sharp at all times.
"However, the global auto insurance business management rules and data models are of a common nature." Hou Xi said, "CCCIS's fine management of automobile insurance in the United States for nearly 40 years has provided us with a solid industry data base and management experience. Car insurance shakes the ecosystem of the entire automotive aftermarket and serves a wide range of industries including property insurance companies, automotive repair companies, parts suppliers, vehicle manufacturers, car dealerships, hospitals, and medical institutions. It is also why we can call ourselves an ecosystem service provider and insurance technology company (InsurTech)."
On November 17th, CCCIS and Ping An Property & Casualty entered into a strategic cooperation, which will â€œcommunicate extensively in insurance technology fields such as smart auto insurance claims management, vehicle infrastructure data, and automotive aftermarket DRP ecosystem constructionâ€.
Insurance technology can not lack industry support
"China Insurance News": From about last year, the word FinTech became popular in China, and now there is InsurTech's statement. In your opinion, what kind of company can be called FinTech, what kind of company is InsurTech?
Hou Xin: Although this statement has only begun to appear in the past two years, CCCIS has been practicing InsurTech for more than 30 years. I believe that using innovative technological means and solutions that are close to business best practices, combined with popular technologies such as cloud computing, Internet of Things, big data, artificial intelligence, and blockchain, will create value for the financial industry and optimize the industry's ecology. The company can call it FinTech. Its InsurTech in the field of insurance industry segmentation, while possessing strong technical attributes, must focus on specific industry scenarios. Its technology needs to be able to intervene in transactions and ecology, improve transaction efficiency, and reduce transaction costs. Companies with cross-border capabilities and the ability to integrate and build ecosystems are truly InsurTech companies.
Therefore, first-class InsurTech companies are often cross-border and use technology to solve business problems. Based on this, they have a thorough understanding of data and business operations, can complement the insurance companies and create tremendous business value.
"China Insurance News": You mentioned a word: cross-border. Can you explain in more detail why exploring and applying InsurTech requires cross-border? What special conditions do you need compared to simple technology?
Hou Xin: We can discuss this issue with the example of very popular image recognition technology. The difficulty of AI photography is to identify, in-depth study and match the photographs. The photo scan can not only judge the surface damage, but also can identify the depth damage that can not be recognized by the naked eye by thermal imaging and can be based on the specific depth of damage. And the specific brand and model of the car to determine the best maintenance logic and repair strategy, which is very high on the image recognition and machine learning capabilities.
Although the demand for deep learning models is very high, pure high-tech companies can still meet the requirements for pure image recognition models. However, the difficulty in realizing the loss of the image AI lies in the deep knowledge of the vertical industry and the understanding of the specific scenario of vehicle claims. This is not a simple algorithm can solve the problem, but depends on whether the technology solution has a large body. , excellent quality history than data. CCCIS has accumulated 750 billion U.S. dollars worth of historical claims in more than 30 years. Tens of billions of photographs provide the best practice support for the recognition and handling of this scene. A large number of pictures can be provided for new cases. A large number of analysis targets, while the amount of historical information on claims can provide accurate empirical data support for the target results. Without the experience of the vertical industry and the benchmarking, association, and empirical data, it is impossible to produce best practices. In other words, if there is a lack of industry support to talk about algorithms, it can only be on paper.
In this scenario, the identity of CCCIS is somewhat special. It is both a technology provider and itself has a strong operating attribute.
Create a DRP transboundary ecology
"China Insurance News": At present, CCCIS is trying to promote the DRP (direct repair program direct repair program) system related to auto insurance claims in China, which also involves cross-border?
Hou Wei: The cross-border of DRP is a deeper level, not only the integration of industry and technology, but also the ecosystem of the entire automotive aftermarket, including insurance companies, maintenance companies, spare parts companies, and consumers. Among them, the insurance company credits the inspection and damage control work to the maintenance industry based on the management and control of a strong system, which greatly expands its own management radius. The maintenance company promises to comply with the regulations and provide services for the accident vehicle according to the insurance company's standards, and on this basis it is valuable. Maintenance resources. Parts suppliers match real-time dynamic pricing and warehousing, logistics information with insurance and auto repair, greatly improving the unpredictable supply chain operation efficiency of accident vehicle spare parts, and consumers can be in this smooth closed-loop ecosystem. Enjoy quick, high quality service. The essence of this ecosystem lies in an information system with extremely strong control capacity, a set of transparent data that regulates the exchange of different subjects, and a set of assessment systems that fairly evaluate the behavior of different entities.
In the United States, 350 insurance companies, 24,000 maintenance companies, and thousands of spare parts companies provide continuous services for more than 200 million vehicles under the support of CCCIS's data and information systems.
"China Insurance News": So, whether it is the application of science and technology to the insurance industry itself or cooperation with the upstream and downstream industry chains, cross-border data accumulation and data analysis and application capabilities are the most important?
Hou Hao: Yes, the maintenance and spare parts industry is involved in the construction of the upstream insurance company's ecosystem. It is a problem in the world because the technology and data involved are very complicated and the technical barriers are high. There is a lack of a transparent set of data and a management system that allows the parties to trust.
We have surveyed more than 800 auto repair companies. The results show that if it is possible to achieve transparent interaction between systems and data, auto repair and spare parts companies are very willing to accept the ecological type under the leadership of insurance companies under the premise of reasonable assurance of the interests of all parties. Cooperation. In their words, they use the 'clear rules instead of the unspoken rules' to obtain access to insurance resources using bright and honest job performance to avoid moral hazard.
"China Insurance News": At present, how about the situation of DRP landing in China? What impact can there be on the insurance company and the entire automotive aftermarket?
Hou Xin: Over the past few years, we have communicated with all major property and casualty insurance companies the key steps for the implementation of the DRP, the roadmap, and the necessary technical solutions. We have also repeatedly studied the standards, management elements and management of DRP landing. experience. In the first half of this year, CCCIS successively entered into DRP strategic cooperation with car dealership Ningbo Puchen Group, accident car maintenance chain group master Huanpu, and luxury car specialization chain group Huasheng Group, and officially introduced DRP to the domestic market.
Recently, many large-scale property and casualty insurance companies have visited the DRP demonstration bases of CCCIS and Puchen Group in Ningbo, as well as the Grand Masters and the Huasheng Motors in Suzhou.
When it comes to influence, I would like to use the DRP service system. The insurance company as an upstream, auto repair as a midstream, and parts as the cost of communication and transaction between the downstream can be further reduced. The tripartite coordination is consistent and the end user is based on the increase in transaction efficiency. Provide fast, affordable service. This increase in transparency can reduce the operating costs of ecological chains and help the industry become more standardized and mature.
Human injury management solves the problems of insurance, medical care and patients
"China Insurance News": Another complex topic in the auto insurance business is the management of human injuries, especially the relationship between human injuries and vehicle damage. What are CCCIS's explorations in this area?
Hou Hao: The first thing that can be affirmed is that there is an absolute correlation between car damage and human injuries. According to our research, when two vehicles collide with a certain acceleration, height, and angle, the human injury can be summarized within a certain range, such as two vehicles with a 15 km impact acceleration, and no more than a 15 degree offset Collisions, sprains in the specific conditions below the waist are not possible. This is what we call the specific circumstances of the injury.
However, under the current situation of lack of automated scientific control, it is difficult for insurance companies to determine the exact injury of the human body when the vehicle is out of danger. However, for consumers, they always feel that their interests are not protected, thus triggering a series of Social issues. At present, the competent authorities at all levels are doing the corresponding work. Insurance companies also hope to have a whole set of scientific procedures to make claims more reasonable and more efficient.
In this regard, we have accumulated more than 30 years of industry experience. CCCIS's Injury Science company was founded by a former NASA scientist. As we all know, NASA has a large number of space-laboratory crash injuries models, and CCCIS uses these models of human injuries to make docking matches with car crash models. The billion-level car injury and injury cases have their own different evaluation and payout standards, and have been integrated into a set of scientific mechanisms.
Now we can determine the extent of human injuries by matching car damage, so as to help insurers to make good claims based on scientific data. After the introduction of CCCIS's injury management solution in the United States, medical corruption, over-treatment, and cattle problems A great degree of improvement.
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