现代财险总裁张宗韬：中小财险公司不能用传统车险模式做新能源车险，差异化竞争才是出路

Core Insights - The Chinese automotive market is experiencing significant growth, with total vehicle production and sales reaching 31.23 million and 31.12 million units respectively from January to November 2025, marking year-on-year increases of 11.9% and 11.4% [1] - New energy vehicles (NEVs) are a key growth driver, with production and sales increasing by over 30% year-on-year, and their market share approaching 50% at 47.5% [1] - Despite the growth in NEVs, the insurance sector faces challenges, with a reported underwriting loss of 5.7 billion yuan in 2024 for NEV insurance, highlighting ongoing profitability issues for smaller insurers [1][2] Industry Overview - The insurance industry is dominated by major players known as the "Big Three" (People's Insurance, Ping An, and Taikang), which maintain a strong market position due to their established brand influence and extensive networks [2] - The NEV insurance market is characterized by high premiums and high claims, creating a dilemma for many insurers regarding whether to underwrite these policies [2] - The competitive landscape is intensifying, with the "Big Three" achieving underwriting profitability through cost control measures, while smaller insurers continue to struggle with losses [2][3] Challenges for Small Insurers - Small insurers face significant hurdles in achieving underwriting profitability due to higher claim rates associated with NEVs compared to traditional fuel vehicles [2][3] - The evolving nature of driving behaviors and risks for NEVs complicates underwriting processes, as even experienced drivers may encounter unexpected risks [3] - Technical challenges related to the design and repair of NEVs, such as expensive parts and complex repair requirements, further increase claims costs for insurers [3] Strategic Recommendations - Small insurers are encouraged to adopt differentiated strategies and innovate to overcome market challenges, focusing on niche segments and enhancing technical capabilities [3][4] - A shift in strategic focus is necessary, moving away from direct competition with larger firms in established markets to developing unique value propositions [5][6] - Key strategic considerations include clear decision-making on product offerings, differentiation in customer targeting, resource allocation, and aligning operational systems with strategic goals [7][8]