Author | Maomei
Source | Big Cat Good Planning
Is the short-term health insurance we bought still "healthy"?
It’s time for various insurance companies to disclose the comprehensive payment ratio for short-term health insurance.
It is estimated that many cat friends are confused. Does this have anything to do with me? Of course there is
.
Are you always worried that the health insurance you bought is not covered long enough, and you don’t sign a contract that will last forever. Are you afraid of instability?
Then you can pay attention to the changes in the comprehensive compensation rate of the insurance companies you insured to see if there are currently any overpayment and whether there is any trend of deterioration.
Let’s talk about what everyone is concerned about first. Overall, the comprehensive compensation rate of personal short-term health insurance business in 2021 is at a relatively low level.
is particularly exaggerated in the individual compensation rate, such as 3442% (Hetai Life Insurance), and -86.39% (Chengtai Property Insurance) and -68.1% (Yellow River Property Insurance), and the average comprehensive compensation rate of most insurance companies is around 40%.
Among them, the average comprehensive compensation rate of 70 life insurance companies is 42.4%, and the average comprehensive compensation rate of 40 property insurance companies is 38.29%.
In other words, the industry is still safe at present.
Most companies and most products are operated in a safe range. At least from the compensation level, there is no risk of losing money.
For example, those who have taken out a six-year medical insurance policy for good medical insurance will pay attention to PICC Health. The comprehensive compensation rate of short-term health insurance business in 2020 is 80.75%, 66.82% in 2021, which is improved compared with the previous year. The range is safe and healthy.
For example, those who buy e-sheng insurance series products will pay attention to Ping An Health. The comprehensive compensation rate of its short-term health insurance business was 28.4% in 2020 and 34.5% in 2021. Although the compensation rate is a little higher than the previous year, it is still in a super safe range.
Although the overall compensation rate is very safe, there are also some companies that have achieved a very strange comprehensive compensation rate.
For example, Hetai Life Insurance has a comprehensive compensation rate of -7% in 2020, but it is 3442% in 2021. This is simply from heaven to earth.
researched it and this is a product called Hetai Ankang Critical Disease Insurance. The comprehensive compensation rate of this product is as high as 6060%, which immediately increases the overall compensation rate of the entire company.
The reason why the compensation rate is so "explosive" is because the product is small in scale, and the compensation rate fluctuates greatly due to the impact of a single compensation case.
The plate is too small, or the business starts for a short time, and the business will be greatly impacted by factors such as individual compensation and reserve withdrawal.
For example, another product of Hetai Life Insurance, the comprehensive compensation rate of Hetai Suixin Insurance has become -106%.
This is because this indicator is the compensation rate after reinsurance, and the loss estimation deviation of the pending compensation will cause the compensation rate to be less than zero. Similar situations in
also occur in other small and medium-sized companies.
The shorter the establishment time and the smaller the business scale, the easier it is to fluctuate the compensation rate data. There is great chance that
is too high or too low.
Of course, insurance companies will not hold on to some products with too high compensation rates. Some companies will stop losses as soon as possible, such as stopping sales, or using methods such as adjusting fees to avoid risks.
For example, Shanghai Life Insurance, as of the end of 2021, the top three products with the compensation ratio have been suspended.
In contrast, some "head" companies have maintained a more stable trend.
Like ZhongAn Online, the comprehensive compensation rate in 2021 was 34.1%, which is basically the same as 36.3% in 2020.
But everyone should also see the two sides of the coin.
The problem with short-term health insurance is that although the overall safety is, the compensation rate is a bit low.Why is
too low?
That's because products with too low comprehensive claims ratio are "expensive" for our consumers and are not "expensive" enough.
For example, in 2021, more than 70% of insurance companies have a comprehensive compensation rate of less than 50%, and even more than 20% of insurance companies have a comprehensive compensation rate of less than 20%.
So, on the one hand, it is sustainable operation, and on the other hand, it is cost-effective, and I still hope that insurance companies can balance it.
Of course, everyone should also see that behind the low compensation rate, there may be different reasons. Some
have low cost performance and weak compensation function, while others have short sales time and the compensation peak has not arrived. In addition, factors such as reserves and reinsurance will also affect the overall compensation rate, and we cannot generalize it.
Now, according to regulatory requirements, all insurance companies must make letter approvals on their official website.
The insurance company's letter approval is much better than before, and the official website information is getting more and more. If you are interested in the data of a company, you can go to the official website to find it.
