How to do risk control in the insurance industry?

In recent years, the insurance market has been booming, but at the same time, the trend of "high claims, low profitability" has directly affected the profitability of the insurance industry and the sustainability of its development. Before 2012, the insurance industry mainly relied on manual review and experience to judge potential risks, i.e. "traditional risk control stage". 2012-2017, with the popularization of electronic and internet technologies, the insurance industry entered the "digital risk control stage". In 2012-2017, with the popularization of electronic and internet technologies, the insurance industry entered the "digital risk control stage", in which insurance companies carry out risk control by setting up simple rules and auditing after the fact. Since 2018, with the deep integration of insurance technology and the insurance industry, the insurance industry has begun to enter the "intelligent risk control stage". Combined with artificial intelligence, big data, blockchain and Internet of Things technologies, insurance companies can realize intelligent early warning and multi-dimensional verification before users take out insurance.

So how do insurance companies manage to learn so much data, which mainly has the following channels:

First, industry high-risk information **** enjoy. Many insurance companies have information sharing channels, people with fraud records or bad credit records as long as they are recorded by one company, then other companies have the possibility of recording at the same time.

Second, Internet behavior. We may have gotten used to providing our personal information when registering for apps or websites, and real-name authentication has taken hold. But in this way, every behavior we perform in the Internet is directly linked to me.

Third, insurance wind companies. There is a demand for trading, and there are more and more technology companies engaged in insurance wind control, they collect user data from a variety of channels, and then packaged and sold to insurance companies. Since the birth of the Insurance Intelligent Risk Control Lab in 2018, there are more and more insurance companies engaged in insurance risk control. Their job is to collect user data from a variety of channels, and then supplement it with professional algorithms to analyze the areas and people with higher risks.

With big data analysis, more and more insurance companies are launching more user-friendly and cost-effective insurance products. This has also attracted more people to buy and energized the insurance industry.