Source | Zhou Guanxin Finance
Author | Zhou Gongzi
Recently, the "beating people" incident of water drop and easy fundraising is fermenting. After the incident, both sides were dumping the pot. You said I attacked, I said you harassed and provoked. In the end, it does n’t matter who fights, and what is exposed behind the “hit” is the long-term conflict of interest between the mutual assistance platforms. Mistaking business as a public good is the public's biggest misunderstanding of mutual assistance platforms. And the business behind the charity is the real reason for the big shot.
01
The business model of network mutual assistance
Whether it is water drop or easy fundraising, or the familiar mutual treasure, it is actually network mutual assistance. That is, using the information matching function of the Internet, members agree to bear the risk of major diseases with each other through an agreement. In the event that someone is sick, everyone will share the bag. However, in order to avoid excessive burdens on individuals, it is usually agreed that the amount of a single mutual assistance should not exceed a few yuan, so it also avoids the problem of reimbursement of the originating platform.
According to AiMedia Consulting's "2019 China Network Mutual Assistance Development Special Research Report", domestic network mutual assistance users exceed 200 million, and the number of participating users is expected to reach 485 million by 2022. Shen Peng, founder of Water Drop, once said in March 2019 that 76% of fundraising users, 72% of donating users and 77% of interactive users of the platform come from third-, fourth-, and fifth-tier cities.
And this part of the crowd is also the main battlefield of mutual assistance platform "robbing". Not only do they depend on them, they also rely on them for insurance. Accumulating users through mutual assistance platforms and selling insurance to them is the real business model of mutual assistance platforms.
Shen Peng, founder of Drip Chip, said in an interview at the end of 2019 that at the end of 2018, the one-month insured sales of Drip Insurance Mall were less than 20 million, and by the end of 2019, the total premium had reached 850 million yuan, of which long-term life insurance sold 130 million , The year-on-year growth rate is more than 40 times.
According to the data obtained by Laser Finance, there are currently about 80 million registered users of the Drip Insurance Mall, of which the number of users who have made purchases is between 7 million and 800, and 80% of them are from mutual help users. At present, the insurance transaction volume facilitated by the insurance business line is about 1 billion per month. The insurance products sold by Drip Insurance Mall are mainly serious illness, medical treatment, accident, life insurance and so on.
Those in the industry who are familiar with insurance sales should know that there are commissions for the sale of these types of insurance. Among them, the most impressive are critical illness, life insurance and medical care, with commission rates ranging from 60% to 90%; 2% to 30%; and 10% to 20%. Moreover, if the user renews the insurance, there will also be commissions of varying proportions. According to the monthly transaction volume of Drip Insurance of 1 billion, even if it is not known what the proportion of various types of insurance sold by Drip Insurance is, it is possible to roughly estimate how profitable the "business" of Drip Insurance is.
02
There is no conflict between public welfare and business
But it must not be unprofessional. It
has always been the common practice of mutual aid platforms under the banner of public welfare. The reality is always very slapping.
In November last year, the media unannounced video revealed the fraudulent practice of dripping "volunteers" in the local promotion, including sweeping the building to raise funds, filling in the amount of donations at random, not reviewing the real situation of the help seekers, and even helping some with funds. Powerful help seekers conceal the actual situation and other practices. So much so that "fraud" incidents occur frequently and continue to consume public trust.
Shen Peng, founder of Water Drop, once said in an interview: "Our company is positioned as a social enterprise. We hope to use the business management method to solve some of the public's pain points or social problems, and we must have a reasonable income to feed ourselves."
To put it simply, the founder has emphasized many times to the outside world that waterdrops are commercial companies, not public welfare organizations.
Even so, it seems that the foreign brands of Drip Chip cannot reach agreement with their founders, and the publicity about "public welfare" has never stopped. It is impossible for the outside world to know who this misunderstanding is.
Propaganda posters that emphasize "public welfare"
In fact, public welfare undertakings also need to feed themselves, and it is not uncommon to have commercial behavior. There is no contradiction between public welfare and business. However, do not engage in commercial vicious competition under the banner of public welfare, which violates the sense of pure mission of the word "public welfare" in the minds of the public. Moreover, while the scale of business is getting bigger and bigger, the professional level of public welfare has not improved.
The public has not yet come out of the hurt sentiment of "deception", and the vicious competition of mutual assistance platforms is on the rise again.
Whether it is public welfare or business, please maintain professionalism and healthy competition.
