The new energy vehicle insurance is about to celebrate its second anniversary of implementation.

The current market image is characterized by car owners calling for high prices, insurance companies calling for losses, and the emergence of new forces in car manufacturing. Consumers roast that "all the saved fuel money has paid the premium"; Insurance companies are constrained by the high accident rate and high payout rate of new energy vehicles, and essentially face significant underwriting loss pressure, engaging in "loss making transactions"; New energy vehicle companies have entered the market and are eager to seize the operating links, build a closed ecosystem for car owners, and become competitive partners for traditional insurance companies.

Undoubtedly, new energy vehicle insurance needs to face a long period of adaptation and maturity in order to achieve a balance between the "three highs" of high accident rates, high payout rates, and high premiums. This process will inevitably involve unremitting exploration and active innovation from all relevant parties in the new energy vehicle insurance ecosystem. The thoughts and actions of all parties will work together to solve the dilemma.

What aspects of new energy vehicle insurance can achieve cost reduction and efficiency increase? What changes will occur in the product form of new energy vehicle insurance? Will there be significant changes in the automotive insurance industry in the future? With these questions in mind, a reporter from Blue Whale Finance interviewed Zhang Lei, founder and CEO of Car Technology (NASDAQ: CCG), in order to provide some problem-solving ideas for the industry.

In 2014, Zhang Lei founded Car Technology and received his first angel investment, aiming to become an "Internet car insurance trading platform.". From the early B2C to the current B2B2C open model, Zhang Lei frankly stated that there have been twists and turns, trial and error, but also explored the direction - to build a digital insurance service platform, committed to technological reshaping of the insurance industry value chain. In less than a decade, in September 2023, Cheche Technology successfully went public on NASDAQ in the United States and landed on the capital market.

When discussing the topic of going public with reporters, Zhang Lei, who comes from a technical background but has some insights into the capital market, smiled heartily and said, "Like every entrepreneurial story, we have survived a painful period. Going public is another starting point and a new beginning for cars. We won't take it too seriously, doing a good job in the business is the core."

The new energy vehicle insurance platform is an important component of the automotive technology business system. Standing at the center of the new energy vehicle insurance ecosystem, connecting one end to insurance companies and the other end to car companies, Zhang Lei shared with reporters his observations and reflections on the market from a long-term perspective, unraveling the mystery of new energy vehicle insurance.

Zhang Lei believes that in the era of intelligent vehicles, the value of data will be maximally applied, and insurance companies can achieve cost reduction and efficiency increase from product, channel, and claims processing, solving the challenges ahead. Whether it is investing in insurance companies or acquiring insurance intermediaries, the core goal of new energy vehicle companies is not "insurance", but "users". In order to achieve a closed-loop user service, insurance is just a means. The widespread promotion and use of intelligent assisted driving technology will drive a huge transformation in the car insurance industry, and the product attributes of car insurance will also change accordingly.

Cost structure, risk characteristics, and pricing factors lead to the "three highs" of new energy vehicle insurance

Blue Whale Finance: Based on our observations of the industry and consumer feedback, there is a phenomenon in the new energy vehicle insurance market where car owners complain about being expensive and insurance companies complain about losses, with some consumers