Non-car insurance companies and online platforms will integrate, pricing capabilities may become a key competitive focus.

Starting from November 1st, the integration of non-vehicle insurance reporting and underwriting has officially been put into effect. Several insurance companies have stated that they have established specialized working groups for the integration, conducting evaluation and restructuring of existing non-vehicle insurance products and terms. They are also making improvements to products and systems to meet regulatory requirements. Industry experts believe that the implementation of the integration will help regulate the non-vehicle insurance market, restrain malicious competition, and promote optimization of non-vehicle insurance expense ratios and improvement of underwriting profits. The previous competitive model in the non-vehicle insurance business, which mainly relied on pricing, is no longer sustainable, and pricing ability may become the focus of future competition.