In 2020, a sudden epidemic affects the hearts of people across the country. After the
epidemic, the people's medical and health needs "awakened". In the first September of this year, the original premium income of health insurance reached 666.6 billion yuan, a year-on-year increase of 17.4%, exceeding the 7.2% increase in total insurance premiums in the same period, and the proportion of health insurance increased to 18%.
is advancing rapidly, the future space is still promising.
At the beginning of this year, the "Opinions on Promoting the Development of Commercial Insurance in Social Services" jointly issued by the China Banking and Insurance Regulatory Commission and other 13 departments proposed that by 2025, the commercial health insurance market will exceed 2 trillion yuan.
Huang Hong, vice chairman of the China Banking and Insurance Regulatory Commission, said that commercial health insurance products should be further enriched to further meet the people's growing demand for commercial health insurance.
It is worth mentioning that my country’s medical and health insurance has recently ushered in an outbreak. Inclusive commercial medical insurance, led by the government and underwritten by insurance companies, has quickly become popular in the market. "Jinghui Insurance" has been online for one week. Has exceeded 500,000. This further shows that the public's demand for commercial health insurance still exists, and health insurance companies have a lot to offer.
But returning to the other side of reality, the health insurance market is still facing many challenges such as poor customer acquisition, low digitalization, and insufficient health service innovation. Among them, how professional health insurance companies should seize opportunities and deal with challenges is worthy of in-depth examination.
For Zhou Qing, secretary of the board of directors, head of strategy department and general manager of Beijing branch of CPIC Health, the significance of health insurance is extremely important because he follows the health insurance industry all the way.
In 2009, from the perspective of investors, the professional health insurance company at that time had not yet formed a business model; in 2012, from the perspective of a researcher, health insurance was still a marginal insurance category; in 2015, he Joining CPIC Health, health insurance is already a gestating mass market.
Recently, at the 5th anniversary of the establishment of CPIC United Health Beijing Branch, Zhou Qing gave unique thoughts on the future development of the health insurance industry.
critical illness insurance status cannot be shaken
medical insurance innovation is the most
soldiers and horses have not moved, food and grass first.
is the same for the health insurance market. According to statistics, currently sells five types of commercial health insurance in the insurance industry, including disease insurance, medical insurance, medical accident insurance, nursing care insurance, and disability income loss insurance, with a total of more than 5,000 products. Among them, critical illness insurance and medical insurance dominate.
After 13 years, a new definition of critical illness insurance has been released, bringing new outlets to the critical illness insurance market. On November 5th, the Insurance Association of China and the Chinese Medical Doctor Association officially released the "Specifications for the Use of the Definition of Critical Illness Insurance (2020 Revised Edition)", which expanded the original definitions of 25 critical diseases to 28 severe diseases and 3 Mild illness, and moderately expand the coverage.
Critical illness insurance is a very important form of insurance product in the field of health insurance. According to the new regulations, the deadline for the sale of old critical illness insurance products is January 31, 2021. Relevant data shows that in the past 11 years, critical illness insurance has provided consumers with more than 3,000 products and covered nearly 200 million people. Z2z
Zhou Qing predicts that critical illness insurance will remain the insurance with the largest absolute total in the next five years. Because the products are simple and straightforward, easy to sell, and have a high rate of new business value and stable cash flow for insurance companies, critical illness insurance will continue to focus on life insurance marketing channels in the future and become an absolute number in the health insurance market. The largest growth in insurance.
As Zhou Qing said, critical illness insurance currently accounts for nearly 60% of the total premiums of the health insurance business. After the release of the new definition of critical illness, the scope of coverage has been expanded, the payment conditions have become more reasonable, and the reference standards have become more objective and authoritative. According to several research reports, the price of critical illness insurance is expected to drop slightly, which will arouse the enthusiasm of new customers for insurance, and the entire industry is expected to usher in a new trend.
, as another important type of health insurance, medical insurance has gradually increased demand due to the impact of the epidemic. In Zhou Qing's view, medical insurance will be the fastest growing type of insurance in the next five years, and it will also be the most innovative field.
"The essential attribute of medical insurance is ‘service’ rather than ‘finance’. Products that emphasize service attributes do not use actuarial techniques to win in the form of low cost and high leverage returns.To win customers, but like Haidilao and other well-known consumer service organizations, relying on wholesale and retail and efficient supply chain management to provide customers with cost-effective products and services", Zhou Qing analyzed.
Indeed, million medical insurance only uses In three years, it has changed from short-term insurance to long-term insurance; and the emergence of inclusive medical products such as "Human Insurance" this year, it can be seen that the iterative cycle of personal supplementary medical insurance is getting faster and faster. Zhou Qing pointed out, In the future, such products will become the focus of health insurance innovation and the hotspot of growth, and become the most widely used type of insurance in various new technology application scenarios. For small and medium insurance companies, there will be more room for development and opportunities.
Commercial health insurance
health insurance products are financial or service attributes?
In 2019, the China Banking and Insurance Regulatory Commission issued the "Health Insurance Management Measures", which clearly pointed out that health insurance is an important part of the national multi-level medical security system and insists on health insurance protection Attributes. Since 2020, more than 40 cities across the country have launched benefits for the people insurance, which is widely welcomed by the public.
In Zhou Qing’s view, insurance still has strong sales-driven attributes at this stage, and health insurance represented by medical insurance The product has a strong service attribute. It is necessary to face the health insurance company as a company whose "service attribute" is higher than the "financial attribute." Chen Wei, general manager of CPIC Health also pointed out that China's insurance industry is experiencing a "marketing drive" Evolving to "service-driven", the business model of "service + insurance" for health insurance will usher in a period of rapid development.
Under the definition of "service attributes", the logic behind the launch of a series of health insurance products is changing.
From the product point of view
, whether it is a personal product or a group product, must have both social and economic value.
From a health management point of view,
must conform to human nature, provide continuous feedback to customers, and be serious medical treatment The system is deeply bound.
From the perspective of insurance technology
At present, the "reform" of health insurance by insurance technology is not thorough enough, and more important application scenarios should be focused on the middle and back offices.
has been deeply involved in the industry for many years, and has developed for professional health insurance companies , Zhou Qing put forward his own point of view:
○ We must face the health insurance company as a company with "service attributes" higher than "financial attributes". The future force is to make full use of the Internet and insurance technology to transform the middle and back offices.
○ Innovative health insurance products need to achieve "popular and popular", behind which is a simple product form and underwriting process, and conforms to the principle of insurance's most basic law of large numbers.
○ Products, services and models are not copied quickly, provided that the bottom layer The core system support capability of the company is strong enough.
○ It is necessary to make good use of insurance license resources and make good use of the brand trust of insurance companies We have established the most extensive cooperation with big health partners. Behind the
, it is actually the path of CPIC's development that is being recognized and used for reference by the industry. China Pacific Insurance's 2019 annual report shows that its subsidiary, CPIC United Health, achieved operating income of 4.717 billion yuan in 2019, a year-on-year increase of 71.9%; realized a net profit of 7 billion yuan, the first profit in five years since its opening.
Under the influence of the epidemic, online transformation is inevitable, and CPIC Health has continuously increased its investment in technology. It is reported that CPIC Health has developed an intelligent underwriting engine "E Core" to establish a risk decision tree model, a medical data interaction platform "U Enjoy Compensation", and the first intelligent anti-fraud tool "Intelligent Control Compass".
Back to the entire industry, despite the strong growth of China's health insurance market, the road of exploration will continue; re-examining commercial health insurance, some changes are taking place.
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