PICC promotes online sales_英语百科

11月18日,中国人民财产保险股份有限公司召开了新闻发布会,宣布“E-PICC相伴生活每一天——人保财险电子商务大型系列宣传推广活动”正式启动。公司有关负责人介绍说,中国人保财险电子商务平台(www.e-picc.com.cn)是人保财险利用自身品牌优势、技术优势和产品优势为客户推出的综合性网上服务产品。电子商务平台是2002年11月正式对外开通的,今后的预期目标是电子商务上的业务比例要占到公司整个业务比例的5%。

The Peoples Insurance Company of China (PICC) Property and Casualty Co Ltd, China's largest insurer, excluding life insurers, is promoting online sales to reduce costs and improve its bottom line.

Although Internet sales, enabled by its e-PICC platform launched two years ago, now account for less than 1 per cent of its total sales, the company expects the new channel's contribution to grow to 5 per cent as the market matures and clients become more familiar with online purchasing.

Internet sales will potentially help the insurer reduce a fair amount of acquisition costs, given its huge business scale. PICC Property and Casualty's direct premiums written in the first half of this year totalled 37.4 billion yuan (US$4.5 billion), according to its first-half financial statements.

Foreign experience suggests the cost of online sales is only 10 per cent that of setting up sales outlets. Online sales are also the most cost-efficient distribution channel in China and leads other channels such as intermediaries and direct sales by a broad margin, company executives said.

"E-commerce marketing has incomparable cost advantages," said Wang He, executive vice-president of PICC Property and Casualty.

But the new channel has yet to be recognized by China's growing ranks of Internet users, he admitted.

Chinese Internet users now number a staggering 87 million, 6.4 million of whom shop online on a regular basis, official statistics indicate. However, a recent survey by PICC Property and Casualty found that as many as 35.6 per cent of respondents were unaware that insurance is also available online.

"It shows that insurance e-commerce faces the problem of hugely insufficient investment in publicity," Wang said. "E-commerce is very difficult for insurance," he said in an interview, adding that online sales of insurance policies account for less than 1 per cent even in countries leading in this area, such as Germany.

"It requires effort from the entire industry, and will benefit society by reducing consumption of resources," Wang added.

Online sales will also reduce the local industry's reliance on traditional channels of agencies or bancassurance - insurance sales in banks -, where a commission war has been eroding insurers' profitability, analyst say.

PICC Property and Casualty will soon launch its second generation of e-series policies, which will feature travel-related products, company executives said.

The underwriting operations of China's first listed insurance company, which launched its initial public offering last year in Hong Kong, has witnessed strong growth this year. Turnover from the motor vehicle sector, the main pillar in the mainland non-life insurance sector, increased by a robust 4.8 billion yuan (US$578 million) in the first six months of this year.

(China Daily)