Commercial health insurance enhanced in country

The country has released the first comprehensive research report on the development of commercial health insurance in China, showing how younger demographics have risen to become the main audience.

The Blue Book on the Development of Commercial Health Insurance in China, unveiled on May 20 in Beijing, noted that multi-level and diversified insurance products and services are being offered across the country, with a people-centered approach.

The report, jointly conducted by PICC Health Insurance, Nankai University and Ant Insurance, stressed that commercial health insurance has made great contributions to the high-quality development of inclusive health insurance in the new era.

Based on data from the Seventh National Census, and covering effective samples from 31 provincial-level regions on the Chinese mainland, the report noted that innovate and upgrade products should be enhanced based on the growing needs of consumers.

Speaking at a "Stay True to the Original Aspiration, Embrace the Future" event in Beijing to release the book, Professor Zhu Minglai, director of the Health Economics and Medical Security Research Center at Nankai University and head of the Institute of Pension and Health Security under its School of Finance, said: "Insurance companies need to focus on the integration of insurance and health management industries, continually innovate and upgrade products based on consumer needs."

"This includes precise product design, enhanced publicity, continuous optimization of coverage, value-added services and payment models to increase customer loyalty and tap into potential markets," Zhu added.

Divided into three sections, the blue book offers a professional perspective on the current state and trends of commercial health insurance, and intends to aid the future development of the commercial health insurance industry in China.

Shao Liduo, Party secretary and president of PICC Health Insurance, stated that by providing multi-level and diversified insurance products and services, PICC Health Insurance aims to continuously improve the standard of inclusive insurance services for the people, making greater contributions to the high-quality development of inclusive health insurance in the new era.

As the younger demographic has become the main audience for commercial health insurance, PICC Health Insurance announced a collaboration with CCTV Animation to launch a co-branded campaign featuring the 1998 version of the Journey to the West animated series, in a bid to convey financial insurance knowledge and consumer protection information to a wide audience.

The blue book spanned eight months and included processes such as literature reviews, data collection, questionnaire design, distribution and collection, statistical analysis, in-depth interviews, and multiple rounds of revisions.