Mercedes-Benz and Tesla have already entered the game, and this time BMW is here.

Shanghai securities news news, after Mercedes-Benz and Tesla, BMW has also set its sights on the "cake" of insurance!

Recently, according to the announcement of enterprise name declaration and registration issued by the State Administration of Market Supervision, the name of the enterprise was approved as "BMW (China) Insurance Brokerage Co., Ltd.", and BMW took the first step in arranging insurance intermediaries.

It is not uncommon for car-making forces to compete for the insurance market. In addition to large car companies, new energy car companies are also stepping up their pace. In this regard, experts and industry insiders said that car companies will help to build an automobile ecosystem while consolidating market share and enhancing customer stickiness.

The entry of new forces will also bring new vitality and new challenges to the auto insurance industry. The industry believes that the strong entry of car companies may squeeze the space for insurance institutions to operate auto insurance, and "running-in, game and win-win" may become the main theme of the industry.

Car-making forces get together and lay out the insurance market.

It is not uncommon for car-making forces to "sell insurance" across borders. With the continuous growth of vehicle ownership, the broad prospects of the auto insurance market have also made many capitals covet for a long time. As the saying goes, "the advantage of the water is the first to win the moon", and car companies take the lead in obtaining tickets for the track by virtue of their abundant resources. All kinds of car companies have gathered together to lay out the auto insurance market, and the commercial map has been broadened again.

SAIC established Shanghai Automobile Group Insurance Sales Company in May 2011, and Guangzhou Automobile Group and other companies jointly founded Zhongcheng Automobile Insurance Co., Ltd. in June 2011. Mercedes-Benz, which is also a BBA giant, registered and established Mercedes-Benz Insurance Agency (Beijing) Co., Ltd. in March 2019 to operate insurance agency business and insurance brokerage business.

In addition to traditional car companies, new energy car companies are also eyeing the "cake" of auto insurance, and they have entered the market to share a piece of it. In July 2018, Xpeng Motors established Guangzhou Xpeng Motors Insurance Agency Co., Ltd.; In August 2020, Tesla registered and established Tesla Insurance Brokerage Co., Ltd. in Shanghai; Weilai Insurance Broker and BYD Insurance Broker were established in January and March, 2022 respectively.

In addition to applying for a brokerage license, another car company "enters the market by way of acquisition". According to Tianyancha information, backed by Chehejia Financial Technology Co., Ltd. in LI, LI has obtained the insurance brokerage license "curve".

What are the considerations for car companies to get involved in insurance tracks?

Because it is difficult to obtain the license of property insurance company, car companies interested in insurance often start with the brokerage license. However, most of the above-mentioned car companies have only completed the industrial and commercial registration at present, and the insurance brokerage licenses are still waiting in line to apply. Why do car-making forces have a "soft spot" for insurance licenses? What are the considerations behind car companies entering the insurance track?

Wang Xiangnan, deputy director of the Insurance and Economic Development Research Center of China Academy of Social Sciences, said that the subject matter of auto insurance service is motor vehicles, and the related risks are undoubtedly the most familiar to auto companies. Therefore, car companies will naturally consider the insurance industry when expanding the industrial chain vertically, and vertical expansion is also conducive to the promotion of car brands.

According to industry insiders, cross-border admission of car companies is far more than just earning insurance income. An auto insurance industry insider interviewed by the Shanghai Securities Journal believes that auto companies can return back-end maintenance claims to the enterprise itself by selling insurance at the front end, and the combination of front-end and back-end models forms a closed loop of insurance business. By embedding insurance products in the process of automobile consumption, it is helpful to tap the life cycle value of customers and build the automobile ecosystem.

As an insurance product that runs through the whole process of car ownership, car companies have opened up the auto insurance market for the sake of consolidating market share and enhancing customer stickiness. Wang Xiangnan believes that car companies providing insurance while selling cars will help consolidate the market position of their main products and provide consumers with more convenient choices. At the same time, high-quality auto insurance brokerage services are also conducive to enhancing customer stickiness.

"Compared with insurance companies, car companies have natural information advantages in automobile data, and the timeliness and completeness of mastering data far exceed that of insurance companies." According to the above-mentioned insiders, the insurance response of connected vehicles is more timely, and the relevant data in the process of automobile maintenance claims will be recorded, which is helpful for the subsequent product and service optimization.

Car companies are expected to become new forces in the industry.

Will the layout of the insurance market by car-making forces stir up the existing auto insurance market?

The industry believes that with the continuous narrowing of the information gap between insurance and car companies, the space for insurance institutions to operate auto insurance will be squeezed, and "running-in, game and win-win" will become the main theme of the industry.

Car companies build a new ecology with their own characteristics, which is expected to become a new force in the auto insurance market and bring new vitality to the industry. Wang Xiangnan said that if the insurance intermediaries with the background of car companies are shared by the shareholders of car companies, it will help insurance intermediaries improve the supply of products and services, expand insurable risks for the whole market, and provide more effective services and more competitive innovative products.

As an important incremental space in the auto insurance market, new energy auto insurance is also the focus of various insurance institutions to seek breakthroughs, which also attracts new energy auto companies with resource endowment advantages to get involved. Zhu Junsheng, research director of China Insurance and Pension Research Center of Tsinghua University Wudaokou Finance College, said that new energy vehicles are highly intelligent, and car companies have a lot of data. If these data are used reasonably in the future, car companies will make great achievements in auto insurance pricing and product innovation.

Original title: Mercedes-Benz and Tesla have already entered the game, and this time BMW is here.