Property Casualty Insurance
财产保险

The property-casualty market is very competitive. To effectively compete in a market saturated with competition, insurers must monitor the following aspects of the insurance marketplace:
财产险市场竞争非常激烈。为了在竞争饱和的市场中有效竞争，保险公司必须对保险市场的以下方面进行监控：

• Consumers 消费者
• Marketing Techniques 营销技巧
• Property Casualty Market Factors
  财产损失市场因素

We will cover each of these in more detail in the subsequent pages of this unit.
我们将在本单元的后续章节中详细介绍其中的每一项内容。

Consumers 消费者

There are four primary consumers of insurance in the property-casualty industry:
财产保险业有四个主要的保险消费者：

• Individuals 个人
• Small businesses 小型企业
• Middle markets 中东市场
• National accounts 国民账户

Each insurance consumer can be categorized by five customer characteristics. We’ve listed these characteristics below in the order of importance starting with the characteristic that best defines each consumer group.
每个保险消费者都可以按五个客户特征进行分类。我们将这些特征按照重要性顺序排列如下，从最能定义每个消费者群体的特征开始。

• Need for insurance 保险需求
• Insurance knowledge 保险知识
• Means of purchasing insurance
  购买保险的方式
• Capacity to negotiate 谈判能力
• Alternatives to insurance
  保险替代方案

Individuals 个人

An individual is a person who buys insurance. Individuals typically purchase auto and home insurance to cover their personal exposures.
个人是指购买保险的人。个人通常购买汽车和房屋保险，以保障个人风险。

• Need for insurance – The majority of individuals have the same insurance needs. Individuals need insurance coverage for real property, personal property, and liability. Insurers pool these individuals into groups because they all have similar needs and loss exposures.
  保险需求 - 大多数人都有相同的保险需求。个人需要不动产、个人财产和责任保险。保险公司将这些人集中到一组，因为他们都有类似的需求和损失风险。
  The insurer then assigns a rating factor to each group of similar individuals, this calculates the appropriate premium for each group.
  然后，保险公司为每组相似的个人分配一个评级系数，从而计算出每组的适当保费。
• Insurance knowledge – The individual typically has limited insurance knowledge. The everyday person does not usually understand the complexities of insurance.
  保险知识 - 个人的保险知识通常有限。普通人通常不了解保险的复杂性。
  Individuals rely on experts in the industry, such as brokers and agents, to navigate the insurance market and educate the individual.
  个人依靠经纪人和代理人等业内专家来引导保险市场和教育个人。
• Means of purchasing insurance – Individuals either purchase insurance from an insurance expert, such as a producer, or directly from the insurer through a website or call center.
  购买保险的方式--个人可以向保险专家（如保险经纪人）购买保险，也可以通过网站或呼叫中心直接向保险公司购买保险。
• Capacity to negotiate – The individual has very little ability to negotiate with the insurer. The insurer holds the power to reject or accept a person’s insurance application. If an individual is not happy with their insurance, the only option is to switch to a different insurer.
  谈判能力--个人与保险公司谈判的能力很小。保险公司有权拒绝或接受个人的保险申请。如果个人对自己的保险不满意，唯一的选择就是换一家保险公司。
• Alternatives to insurance – Individuals have very few alternatives to insurance. The primary alternative is retention, but insurance is often required by mortgagors, banks, and the government. This means that the individual cannot use an insurance alternative.
  保险的替代方案--除了保险，个人几乎没有其他选择。主要的替代办法是自留额，但抵押人、银行和政府往往要求购买保险。这意味着个人无法使用保险替代方案。

Small Business 小型企业

A small business is a company with few employees. This company is small and does not have an internal Risk-Management department:
小企业是指员工人数很少的公司。这家公司规模小，没有内部风险管理部门：

• Need for insurance – Small businesses need insurance coverage for commercial exposures, such as business owner’s insurance, workers compensation, and commercial auto coverage.
  保险需求 - 小企业需要商业保险，如企业主保险、工人赔偿和商业汽车保险。
• Insurance knowledge – Similar to the individual, a small business typically has limited insurance knowledge. Small business owners do not usually understand the complexities of insurance and commercial insurance risks.
  保险知识 - 与个人类似，小企业的保险知识通常也很有限。小企业主通常不了解保险和商业保险风险的复杂性。
• Means of purchasing insurance – Small businesses rely on local agents and brokers to purchase insurance.
  购买保险的方式 - 小企业依靠当地代理商和经纪人购买保险。
• Capacity to negotiate – Small businesses have little ability to negotiate with the insurer. Like an individual, the insurer holds the power to reject or accept a small business’s application.
  谈判能力--小企业与保险公司谈判的能力很小。与个人一样，保险公司有权拒绝或接受小企业的申请。
• Alternatives to insurance – Small businesses have very few alternatives to insurance. The primary alternative is risk-retention groups.
  保险的替代办法--小企业几乎没有保险的替代办法。主要的替代办法是风险自留团体。

Middle Markets 中间市场

A middle market company is a larger company with more employees than a small business. This company is usually large enough to hire a small internal Risk-Management department.
中等市场公司是指雇员人数多于小型企业的大型公司。这种公司通常大到足以雇用一个小型的内部风险管理部门。

• Need for insurance – Middle market companies have varying needs for insurance. The company’s need for insurance depends on the type of product or service sold by the company. These needs can include product liability, workers compensation, and commercial auto insurance.
  保险需求 - 中等市场公司对保险的需求各不相同。公司对保险的需求取决于公司销售的产品或服务类型。这些需求包括产品责任险、工人赔偿险和商业车险。
• Insurance knowledge – Middle market companies usually have enough income to hire an internal Risk-Management department. The Risk-Management department can review loss history to predict future losses and navigate the insurance industry.
  保险知识 - 中等市场公司通常有足够的收入聘请内部风险管理部门。风险管理部门可以回顾损失历史，预测未来损失，并了解保险行业。
  Middle markets have more insurance knowledge than individuals and small businesses.
  与个人和小型企业相比，中间市场拥有更多的保险知识。
• Means of purchasing insurance – Middle markets typically use brokers to purchase insurance. The broker helps the middle market company find the best insurance program to meet the company’s unique business needs.
  购买保险的方式 - 中间市场公司通常通过经纪人购买保险。经纪人帮助中等市场公司找到最佳的保险计划，以满足公司独特的业务需求。
• Capacity to negotiate – Middle market companies have more leeway to negotiate with insurers for better coverage and a better rate. Middle market companies have a credible loss history, Risk-Management department, and a broker to help in negotiation.
  谈判能力 - 中间市场公司有更多的余地与保险公司谈判，以获得更好的承保范围和更优惠的费率。中间市场公司有可靠的损失记录、风险管理部门和经纪人来帮助谈判。
• Alternatives to insurance – Middle market companies have greater alternatives to insurance. Middle markets can use large deductible plans, captive insurers, risk-retention groups, and contingent capital programs instead of insurance.
  保险替代方案--中等市场公司有更多的保险替代方案。中等市场公司可以使用大额免赔额计划、专属保险公司、风险自留集团和应急资本计划来替代保险。

National Accounts 国民账户

A national account is a large company, typically one that generates multimillion-dollar revenue each year, hires a large number of employees, has multiple offices located across the country, and funds a large dedicated internal Risk-Management department.
全国性客户是指大型公司，通常每年创造数百万美元的收入，雇佣大量员工，在全国各地设有多个办事处，并为一个庞大的内部风险管理部门提供资金。

• Need for insurance – National accounts have a more complex insurance need than middle markets and small businesses. National accounts often need to combine a wide array of commercial insurance policies with retention plans to fully cover the exposures faced by the business.
  保险需求 - 与中间市场和小型企业相比，全国性客户的保险需求更为复杂。全国性客户通常需要将各种商业保险与自留额计划结合起来，以全面覆盖企业面临的风险。
• Insurance knowledge – National accounts hire dedicated Risk-Management expertise in a fully-funded Risk-Management department. This department gives the national account a complete knowledge of the insurance market.
  保险知识 - 全国性客户在一个资金充足的风险管理部门聘请专门的风险管理专家。该部门为全国性客户提供全面的保险市场知识。
  National accounts also work with national brokers to better grasp a full understanding of the market and new insurance needs.
  全国性客户还与全国性经纪人合作，以更好地全面了解市场和新的保险需求。
• Means of purchasing insurance – National accounts purchase insurance through national brokers. These brokers are dedicated to working with large businesses to find the best insurance coverage for all exposures.
  购买保险的方式 - 全国性客户通过全国性经纪人购买保险。这些经纪人致力于与大型企业合作，为所有风险寻找最佳保险。
• Capacity to negotiate – National accounts have the best ability to negotiate with insurers. National accounts generate millions of dollars in premium for the insurer; the insurer is typically open and flexible to accommodate the needs of a national account.
  谈判能力 - 全国性客户与保险公司谈判的能力最强。全国性客户能为保险公司带来数百万美元的保费；保险公司通常会持开放和灵活的态度，以满足全国性客户的需求。
• Alternatives to insurance – National accounts have a wide variety of insurance alternatives available including pools, captive insurers, and retention.
  保险替代方案--国民账户有多种保险替代方案可供选择，包括联营、自保和自留。

Marketing Techniques 营销技巧

Insurers must differentiate themselves in the competitive insurance market. Insurers must use marketing techniques that resonate with their target market and customer groups.
保险公司必须在竞争激烈的保险市场中脱颖而出。保险公司必须使用能与目标市场和客户群体产生共鸣的营销技巧。

When selecting the appropriate marketing technique, the insurer must consider the following:
在选择适当的营销技巧时，保险公司必须考虑以下几点：

• Business size 企业规模
• Distribution system 配送系统
• Location 地点
• Product 产品
• Target market 目标市场

Business Size 业务规模

The level of competition an insurer faces depends on the size of the insurer. A smaller insurer is at a disadvantage as they face competitors with better branding, larger Marketing departments, and more funds available for marketing.
保险公司面临的竞争程度取决于保险公司的规模。规模较小的保险公司处于劣势，因为它们面对的竞争对手拥有更好的品牌、更大的营销部门和更多的营销资金。

• The insurer should consider their size when deciding which market to target. 
  保险公司在决定针对哪个市场时，应考虑其规模。
• For example, a small-scale insurer will face more challenges in a heavily competitive market, such as homeowners insurance.
  例如，在竞争激烈的市场（如房主保险）中，小型保险公司将面临更多挑战。
  The small-scale insurer should instead focus on a niche market with less competition, such as the mobile home market, where the insurer can tailor their products and marketing to their target customers.
  相反，小型保险公司应专注于竞争较少的利基市场，如活动房屋市场，在这个市场上，保险公司可以为目标客户量身定制产品和营销方案。

Distribution System 配送系统

A distribution system is a process used to move products from the seller to the buyer. This is the entire system of procedures, systems, and activities that take place to move goods and services from the source to the consumer.
分销系统是将产品从卖方转移到买方的过程。它是将商品和服务从源头运送到消费者手中的一整套程序、系统和活动。
Insurer distribution systems include independent agents, exclusive agents, and direct writers.
保险公司的分销系统包括独立代理人、独家代理和直接承保人。

• When choosing a marketing technique, the insurer should consider the distribution system preferences of their target market. 
  在选择营销技巧时，保险公司应考虑目标市场对分销系统的偏好。
• For example, older consumers may prefer the independent agent system whereas younger consumers may prefer an internet-based distribution system.
  例如，年长的消费者可能更喜欢独立代理系统，而年轻的消费者可能更喜欢基于互联网的分销系统。

Location 地点

When choosing a marketing technique, the insurer should consider their geographic location and the location of their target market. The insurer must choose the best geographic location to target their marketing.
在选择营销技巧时，保险公司应考虑其地理位置和目标市场的位置。保险公司必须选择最佳的地理位置来进行有针对性的营销。
For example, a regional insurer in New England should not be advertising on billboards in California.
例如，新英格兰的地区性保险公司不应在加利福尼亚的广告牌上做广告。

Products 产品

The insurer should consider their target market when determining the best product to offer consumers. The product should be tailored toward its target audience.
保险公司在确定为消费者提供的最佳产品时，应考虑其目标市场。产品应针对目标受众量身定制。
For example, an insurer targeting college-age renters should consider a product that covers the insured’s property when stored at home or stored in a college dorm.
例如，针对大学生租房者的保险公司应考虑为被保险人存放在家中或大学宿舍的财产提供保险。

Target Market 目标市场

The product, services, and marketing technique of the insurer should always be based on the insurer’s target market. The insurer must consider their target group before selecting a marketing technique.
保险公司的产品、服务和营销技巧应始终以保险公司的目标市场为基础。保险公司在选择营销技巧之前必须考虑其目标群体。

• Marketing intelligence – Marketing intelligence is data gathered about a target market to help the insurer make informed decisions. For example, the insurer can collect information about the target market’s attitudes and behavior to help design a new advertising campaign.
  营销情报 - 营销情报是收集的有关目标市场的数据，用于帮助保险公司做出明智决策。例如，保险公司可以收集目标市场的态度和行为信息，以帮助设计新的广告活动。

Market Factors 市场因素

The property-casualty insurance market is unique. It is affected and disrupted by factors that would not affect any other business. The property-casualty market is affected by the following elements of insurance:
财产保险市场是独一无二的。它受到其他任何业务都不会受到的因素的影响和干扰。财产险市场受到以下保险要素的影响：

• Catastrophic events 灾难性事件
• Economy 经济
• Regulations 条例
• Technology 技术
• The Underwriting Cycle 核保周期

Catastrophic Events 灾难性事件

A catastrophic event is an unexpected event, such as a natural disaster, that causes a severe financial burden to the affected area. For example, a tornado damages all the homes in a town.
灾难性事件是指对受灾地区造成严重财政负担的突发事件，如自然灾害。例如，一场龙卷风摧毁了一个城镇的所有房屋。

• Catastrophic events are costly; when a catastrophe occurs, it imposes a severe financial burden on the insurers covering the claims in the affected area.
  灾难性事件代价高昂；灾难发生时，会给承保受灾地区索赔的保险公司带来沉重的财务负担。
• Insurers must attempt to predict the expected severity of catastrophic losses for each year. Underestimating a catastrophe can result in insolvency.
  保险公司必须努力预测每年灾难性损失的预期严重程度。低估巨灾可能导致破产。

Economy 经济

The economy affects insurers in two primary ways:
经济对保险公司的影响主要体现在两个方面：

• Inflation – Inflation has a major effect on the profitability of an insurer. As inflation increases so does the cost of claims and business expenses. For example, the cost of roofing material increases with rising inflation causing the insurer to pay more for roof-related claims. Inflation causes a major issue for insurers because as inflation increases, the rates insurers charge become inadequate.
  通货膨胀 - 通货膨胀对保险公司的盈利能力有重大影响。随着通货膨胀率的上升，索赔成本和业务费用也会增加。例如，屋顶材料的成本随着通胀率的上升而增加，导致保险公司需要为与屋顶相关的索赔支付更多的费用。通货膨胀给保险公司带来了一个大问题，因为随着通货膨胀的加剧，保险公司收取的费率变得不足。
• Investing – Investments also have a major effect on the profitability of an insurer. Insurers invest large sums of money; if the economy performs poorly, the insurer will lose investment income.
  投资 - 投资对保险公司的盈利能力也有重大影响。保险公司投资大笔资金，如果经济表现不佳，保险公司就会损失投资收入。

Regulations 条例

The insurance industry has stricter regulations than most other industries. State insurance regulators require insurers to meet certain capital standards, meet minimum surplus requirements, restrict insurers from overcharging, and limit the insurer’s ability to undercut prices.
与大多数其他行业相比，保险业的监管更为严格。各州保险监管机构要求保险公司达到一定的资本标准，满足最低盈余要求，限制保险公司多收费用，并限制保险公司压低价格的能力。

Technology 技术

As technology continues to improve it affects the insurance industry, most importantly it improves the ease of conducting business for the insurer and improves the ease of buying insurance for the consumer.
随着技术的不断进步，它对保险业也产生了影响，最重要的是，它使保险公司更容易开展业务，使消费者更容易购买保险。

The Underwriting Cycle 核保周期

The underwriting cycle is the level of competition and pricing in the insurance market. The insurance market goes through hard cycles and soft cycles.
承保周期是指保险市场的竞争和定价水平。保险市场会经历硬周期和软周期。
These cycles cause the insurer to continually adjust their rates to maintain competitiveness and profitability as the cycle shifts.
这些周期导致保险公司不断调整费率，以在周期变化时保持竞争力和盈利能力。

• Hard cycles – A hard cycle is a time period of less competition. During this time, insurers can increase the price of insurance and generate more profit because there is less competition and less reason to price competitively. This period benefits the insurer.
  硬周期 - 硬周期是指竞争较少的时期。在此期间，保险公司可以提高保险价格，获得更多利润，因为竞争较少，价格竞争的理由较少。这一时期对保险公司有利。
• Soft cycles – A soft cycle is a time period of increased competition. During this time, insurers must decrease prices to remain competitive. Profits decline because insurers are charging less and less to remain competitive. This period benefits the insured.
  软周期 - 软周期是指竞争加剧的一段时间。在此期间，保险公司必须降低价格以保持竞争力。由于保险公司为了保持竞争力，收费越来越低，因此利润下降。这一时期对投保人有利。