Read the latest edition of AIR and MEIR as an Interactive e-book

Apr 2021

China: Broader product mix can boost health insurance business

Source: Asia Insurance Review | Feb 2021

Insurers can grow short-term health insurance by broadening the product mix, serving specific groups such as older people, and bundling insurance with healthcare services, says Swiss Re Institute.
In a report titled ‘Short-term health insurance: a growth engine for China’s P&C insurers’, Swiss Re Institute says that short-term health insurance can drive growth for non-life insurers in China and may help to offset the non-life business hit from motor detarification in 2020 and 2021.
Short-term health insurance fills the gap between basic (but low-coverage) public health insurance and traditional long-term health insurance, primarily by reimbursing medical expenses.
A majority of health insurance participants surveyed for Swiss Re Institute research in 2020 expected short-term health insurance premiums to reach 20-30% of China’s health insurance market and lead the growth of P&C insurers in the next three years.
Insurers wrote more than CNY84bn ($13bn) of the policies in 2019, 12% of the CNY707bn total health insurance premiums (2015: 9.5%). A 
| Print | Share

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.


Recent Comments

There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.