The insurance premiums for electric vehicles, already much higher than those for traditional vehicles, are reportedly rising continuously. But high insurance premiums will hinder the popularization of EVs.

Under the prerequisite of protecting user privacy, it is possible to share driving behavior data to innovate and improve risk assessment models for insurance companies, thereby providing a foundation for more accurate premium pricing.

In recent years, domestic automotive companies have been increasingly involved in the insurance business, with many establishing their own insurance brokerage or agency companies. Due to the multiple advantages in data and technology possessed by automotive companies, the underwriting costs are relatively low. This model naturally helps reduce premiums.

Besides, reducing the maintenance and upkeep costs of EVs is also important. For example, automotive companies can strengthen targeted technological innovations, focusing on the repair and maintenance services to reduce the parts-to-labor ratio of EVs, which also helps create more space for reasonable premium control.

The popularization of EVs is an inevitable trend, and there is still large market space to be tapped. Major insurance companies should be encouraged to demonstrate more responsibility and commitment, considering the costs and benefits of insuring EVs from a long-term perspective.

- BEIJING NEWS