Inclusive Medical Insurance Goes Online In A Blowout Style, Competing For 50 Billion "Supplementary Insurance" Market

"Affected by the epidemic situation, people pay more attention to their own health, and the insurance conditions such as" unlimited age, unlimited occupation, and no need to be informed of health conditions "of the general insurance also make it easier for the public to participate." On October 26, Yang Wenlin, a zero krypton technology partner and chief administrative officer, who participated in the design of Xiamen citizens' exclusive inclusive supplementary medical insurance, said in an interview with 21st century economic reporter.

According to the reporter of the 21st century economic report, on October 24, Jinan launched the "Qilu insurance", which only costs 59 yuan a year. So far, more than 15 provinces have launched the inclusive medical insurance, showing a blowout trend.

There is a general consensus among industry insiders that as an insurance with low profit and capital, the inclusive insurance can better serve the construction of the national multi-level medical security system, and the current design breakthrough also makes more people willing to participate in the insurance.

Yang Wenlin pointed out that under the background of rapid development of medical technology and new drug research and development, the basic medical insurance has been unable to meet the medical needs of Chinese people. As a "sub category" of commercial insurance, the general benefit insurance has built a multi-level medical insurance security system for residents.

In addition to the national top-level design and the characteristics of its own design, the industry generally estimates that the market size of inclusive medical insurance is 50 billion yuan, which is also a "great temptation" for insurance companies that are no longer making money lying down.

Blowout Online

On October 24, Qilu insurance, a universal supplementary medical insurance product, was officially released. The product is jointly guided by Shandong Medical Security Bureau and Jinan Municipal Medical Security Bureau, and jointly launched by Taiping endowment insurance, Taiping Life Insurance, Pingan endowment insurance and other insurance companies in combination with Shandong medical insurance big health platform. It provides supplementary medical insurance of up to 2.5 million yuan for basic medical insurance participants in Jinan City and medical insurance participants of employees directly under Shandong Province.

In fact, since this year, the number of inclusive supplementary medical insurance products has shown an explosive growth. According to the reporter's incomplete statistics of the 21st century economic report, up to now, nearly 50 cities in 15 provinces have released relevant products, especially in August.

For example, on August 2, Hainan Province launched special drug insurance; on August 6, Guofu life insurance and easy group jointly launched Huigui insurance; on the same day, Zunyi Medical Security Bureau guided the release of zunhui insurance of Ping an endowment insurance; on August 10, the Wenzhou Huihui insurance released by PICC Property Insurance and Alipay was officially launched; on August 13, under the guidance of Jiaxing Municipal Civil Affairs Bureau, Jiaxing Central Branch of PICC Property Insurance Co., Ltd. undertook to release zunhui insurance Huijiabao of PICC was officially released; on August 14, PICC Property Insurance Yancheng branch launched citizen insurance for sale; on August 18, Luhui insurance in Xiamen, Fujian Province and citizenry insurance in Taizhou, Zhejiang Province were released on the same day.

The 21st century economic reporter combed many products and found that the price of the above-mentioned products was between 25 yuan and 190 yuan, and the common price was less than 100 yuan. The insurance threshold of these universal medical insurance was very low, regardless of age, occupation and health status.

At present, the inclusive medical insurance is jointly dominated by the government, insurance companies and operation platforms, with the active participation of local health insurance bureaus, health care committees and other government departments to supervise and guide the products, and assist insurance companies or platform companies in product design, publicity and promotion.

Yang Wenlin analyzed to the 21st century economic reporter that at present, the development of inclusive medical insurance is in an explosive way. First, the public is more concerned about their own health due to the impact of the epidemic situation, and the other reason is the product itself. "In fact, from the perspective of compensation, the current urban general benefit insurance has two main characteristics: directly undertaking medical insurance and reimbursement of part of the self paid expenses outside of the medical insurance; second, reimbursement of a certain proportion of non-medical insurance listed drugs, especially the designated new special drugs outside the medical insurance list, such as expensive anticancer drugs and rare drugs."

"Inclusive medical insurance is a new form of commercial insurance. In terms of product design, it has broken through many restrictions of health insurance in the past, making it easier for the public to accept; and the government's active participation is also because it can help the government reduce medical expenditure." Yang Wenlin pointed out.

For local governments, participating in the promotion of welfare insurance is, on the one hand, an innovative attempt to deepen the reform of the medical security system; on the other hand, it can alleviate the problem of poverty caused by illness beyond the basic and wide coverage of medical insurance, realize the upgrading of medical security by market-oriented means, reduce the payment pressure of basic medical care, and enhance residents' awareness of social security and commercial insurance.

Competing for 50 billion market

A person in the industry told the 21st century economic report that at present, many insurance companies are actively participating in inclusive insurance. In fact, there are two major breakthroughs. One is that there are a large number of platform based enterprises participating in it, and they can provide big data to insurance companies; on the other hand, the country is paying more and more attention to the promotion of universal medical insurance and has made many top-level designs.

By the end of March, 2020, the Central Committee of the Communist Party of China (CPC) issued the opinions on the comprehensive medical insurance system, such as "comprehensive medical insurance system, mutual medical insurance system and medical insurance system".

Yang Wenlin pointed out that this is actually a reform of the commercial insurance industry.

Generally speaking, in order to control the risk, the insurance company will set the threshold of age, occupation and health notification. And it is also a challenge for insurance companies to release these restrictions.

A person in the industry who did not want to be named pointed out to the reporter of the 21st century economic report that the insurance companies can no longer make money by lying down. They must participate in this reform and also need to consider the connection between commercial insurance and medical insurance. From the perspective of market analysis, the market capacity of general insurance is not small, with an estimated market size of 50 billion yuan.

Some people in the industry also pointed out that if the overall operation is good, the general & amp; Whitney insurance can cover 300-500 million domestic people. If the annual premium of 100 yuan / person is calculated, it corresponds to a market scale of 30 billion yuan to 50 billion yuan.

"Inclusive insurance is actually a breakthrough in health insurance. Under the trend of increasingly fierce competition in the health insurance market, local customized products and Internet factors can better meet consumers' medical security upgrade and health management services. For insurance companies, early-stage products may be slightly compensated, but the spillover effect is huge. Insurance companies can use their own outlets and channel resources to publicize, and can also reduce the interest rate of health commercial insurance. " The industry insiders, who did not want to be named, pointed out to the 21st century economic report that insurance companies spend more than 40% - 60% of their marketing expenses, which is already an open secret in the insurance industry.

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