I look at the development trend of the insurance industry, the development status and future trends

As the three pillars of finance, the insurance industry plays an irreplaceable role in risk management.

However, the people's awareness of insurance is still weak, and the insurance density is still very low.

On the one handOn the other hand, although some young consumers have taken the initiative to buy insurance, the proportion of consumers who have been "promoted" to buy enough is still very high, and the result is that many people cannot buy products that suit them, or are misled by sales, and there are misunderstandings or problems with information when purchasing, resulting in a very poor sense of experience. So much so that when it comes to insurance, many people are confused, and some want to understand it thoroughly and avoid it. But it is precisely because of this that the future potential is huge.

In the past one or two years, the state has also strengthened supervision and regulatory direction, restricting the compliance operation of insurance companies while emphasizing the theme of "insurance surname insurance". Insurance products are also constantly updated, and many excellent products have also been recognized by consumers.

So far

More and more high-quality people are joining the profession of insurance sales, and the development of intermediaries in the insurance industry will provide more neutral and objective products and services, which will also help more people to understand the role of insurance more and more correctly.

Insurance is a financial tool that modern people must use, and in the future, the insurance industry will be able to achieve sustainable and rapid growth.

The development status and future trends of the insurance industry:

1. More and more medium-sized enterprises will enter the market and continue to compete, insurance companies will upgrade themselves in terms of products and services, and more and more insurance companies. In the later stage of development, the competition is becoming more and more fierce, and the cost-effectiveness and professionalism of the products are also getting higher and higher.

2. Separation of production and marketing. At present, the professionalism and professionalism of insurance practitioners can no longer meet the growing insurance needs of our customers. In 10 years, a large number of high-quality talents will appear in the insurance industry, and the country will also have a supporting vocational qualification certification system.

3. Insurance companies will improve their investment capabilities, pursue differentiated development, and build their own ecology. Taikang Insurance Taiping Insurance has begun to build a pension community, which solves the future pension problem of people who can afford to pay the same level of premiums. People with the same income level will live together in the future.

4. Wearable devices and Internet of Things technology provide a more accurate model and data basis for the risk assessment of insurance targets. Now there is a company that meets the daily walking step standard, and the premium is discounted for the second year. The healthier the customer, the later the claim will be, the longer the insurance company will have to invest in the premium, and the more dividends the customer will receive at the end of the claim or surrender.

5. Big data also provides a risk pricing basis for customized, personalized and fragmented products, with richer products and more accurate positioning.

6. With the development of society, our way of life is also changing, so the risks that people are worried about may be unexpected. For example, the popular bicycle sharing in recent years has corresponding special bicycle sharing insurance, as well as virtual property insurance.

The choice of customers will be bigger and bigger, after all, in the Internet age, anything can be. The professionalism of insurance people is the only way, that is, to establish a personal brand. Those who are unreliable, only care about performance, and do not care about the interests of customers will gradually be eliminated.

Ranked second in the world in terms of premium income

In the past 15 years, the total premium income of China's insurance industry has generally shown an upward trend, and the promulgation of the "National Ten Measures" in 2006 and 2014 and the "New National Ten Measures" in 2014 has promoted the rapid growth of the insurance industry. In 2021, under the background of the new crown epidemic and the comprehensive reform of motor insurance, the trend of increasing the original premium income year by year was broken, and the total annual premium income was 4.49 trillion yuan, a year-on-year decrease of 35.7 billion yuan.

Since 2017, China's premium income surpassed Japan's, China has occupied the position of the world's second premium market for five consecutive years, and is gradually opening up the distance from Japan, although there is still a large gap with the United States, which ranks first, but China has become the backbone of the world insurance market.

Note: Some countries and regions have not yet released 2021 premium income data.

There is an imbalance in the income structure

From the perspective of premium income structure, in 2021, China's life insurance premium income will be 3,322.9 billion yuan, accounting for 74%, and property insurance premium income will be 1,167.1 billion yuan, accounting for 26%.

There is still room for growth in insurance density and insurance depth

Since 2010, China's insurance density has grown rapidly, and the gap between China's insurance density and the global average insurance density has been narrowing. In 2021, China's insurance density was US$520, compared to the global average of US$661.

In the past five years, the global average insurance depth has generally shown a slight and steady downward trend, while China's insurance depth has also shown a fluctuating downward trend, and the gap has not narrowed compared with the global average. In 2021, China's insurance depth is the global average insurance depth, while the insurance depth of developed countries such as the United States and the United Kingdom remains above 10%, and China's insurance depth still has a lot of room for growth.

——The above data refer to the Prospective Industry Research Institute"Analysis Report on Market Prospect and Investment Planning of China's Insurance Industry".

1. Introduction to the history of insurance development.

Second, the development status of the insurance industry.

3. The future development trend of the insurance industry.

More and more people are recognizing that the insurance industry is a very profitable industry, so in the future, there may be not only a few large insurance companies today, but also many other emerging companies to join the insurance industry. With the continuous development of science and technology, it is expected that in the future, the insurance industry will also be closely connected with Internet technology, so as to help more people purchase insurance and improve the efficiency of the insurance industry.

In recent years, the financial industry has gradually become the industry with the most consumer complaints, and the hot events of complaints have also frequently appeared on the hot search lists such as Weibo and Douyin, among which complaints against the insurance industry account for a large proportion. It is indispensable for insurance institutions to strengthen internal control and strengthen the claims supervision system.

In December 2020, the Consumer Rights Protection Bureau of the China Banking and Insurance Regulatory Commission (CBIRC) issued Circular No. 12 of 2020 "Notice on Insurance Consumer Complaints in the Third Quarter of 2020", informing the CBIRC and its dispatched agencies of the insurance consumer complaints received in the third quarter of 2020.

According to the Circular, in the third quarter of 2020, the China Banking and Insurance Regulatory Commission and its dispatched agencies received and forwarded a total of 36,754 insurance consumer complaints involving insurance companies, an increase from the previous quarter. Among them, 16,895 cases involved property insurance companies, an increase from the previous month, accounting for the total number of complaints; 19,859 cases were filed by life insurance companies, an increase from the previous month, accounting for the total number of complaints.

Car insurance and general life insurance have the most pitfalls

9,090 complaints from property insurance companies involving motor vehicle insurance disputes, accounting for the total number of complaints from property insurance companies; 3,289 complaints about guarantee insurance disputes, accounting for the proportion; 7,881 life insurance companies were involved in ordinary life insurance disputes, accounting for the total number of life insurance company complaints; There were 4,163 complaints about illness insurance disputes, accounting for the total.

Property insurance claims disputes are obvious, and life insurance sales disputes are prominent3,052 complaints involving claims disputes from life insurance companies, accounting for the total number of complaints from life insurance companies; There were 8,166 sales dispute complaints, accounting for the total. The number of claims disputes and complaints of People's Health, Chinese Life and Pacific Life is the most prominent among life insurance companies. Ping An Life, Chinese Life and Pacific Life have the most prominent sales dispute complaints among life insurance companies.

The store is a big bully, and the insurance leader has serious complaints

PICC Property Insurance, Ping An Property Insurance, and Pacific Property Insurance ranked among the top three property insurance companies in terms of the number of complaints. Ping An Life, Pacific Life and Chinese Life are among the top three life insurance companies in terms of the number of complaints. The most complained about are almost all insurance leaders.

The insurance contract is "greasy".

On the whole, complaints about insurance products are concentrated in critical illness insurance, medical insurance, general life insurance and motor insurance. The main causes are concentrated in claims disputes, sales disputes, and insurance contract modification (preservation) disputes, and claims disputes are relatively more prominent. Judging from the insurance contracts selected from the survey, there are four main types of outstanding problems.

It is indispensable for insurance institutions to strengthen internal control and strengthen the claims supervision system.

It can be seen that the difficulty of claims settlement makes it difficult for ordinary people to reverse their prejudice against the insurance industry, and they always have a "sense of distrust" in insurance. Zhou Yanli, former vice chairman of the China Insurance Regulatory Commission, recently pointed out in an interactive exchange with netizens that on the one hand, insurance institutions should strengthen internal control, establish and improve the claims management system, conscientiously improve and improve the claims procedures, and improve the claims service system; On the other hand, it is necessary to strengthen the construction of the claims supervision system, improve the insurance products and management mechanism, and increase the investigation and disclosure of violations of laws and regulations in the settlement of claims.

Major listed companies in the health insurance industry:Ping An of China (China Taibao (Xinhua Insurance (Chinese Life Insurance (Chinese Insurance (etc.)

Core Data:health insurance premium income; Reimbursement Expenses.

A panoramic view of the industrial chain of the health insurance industry: there are many participants in each link

Compared with the traditional health insurance industry chain, in the innovation industry chain, the number of participants mainly in insurance intermediaries and TPAs has increased, the service content provided by enterprises is more refined, and the income of various industrial roles is richer.

Regional heat map of the industrial chain of the health insurance industry: coverage nationwide

From the perspective of the regional distribution of health insurance industry chain enterprises in China, the health insurance industry chain enterprises are distributed throughout the country, among which the distribution of operating enterprises in Guangdong, Shandong, Hubei, Jiangsu and other places is relatively dense.

From the distribution of enterprises operating health insurance business, there are more registered enterprises in Beijing and Shanghai, such as 31 health insurance companies registered in Beijing, such as Chinese Life, Xinhua Insurance, Taikang Life, PICC Life Insurance, China Post Life, Tianan Life, PICC Health, Junkang Life, ABC Life, Dajia Insurance, CITIC Prudential, Zhongyi Life, Yingda Taihe, Minsheng Life, Zhongrong Life, BOC Samsung, Taikang Pension, Sino-British Life, Happy Life, Great Wall Life, Hongkang Life, Huatai Life, Xinmei Mutual, Aixin Life Insurance, China Life Insurance, Beijing Life Insurance, Ruitai Life Insurance, Dingcheng Life Insurance, Dajia Pension, China Legal Life Insurance. The second city with more registered places is Shanghai, with 18, as shown in the figure below.

Regional status of health insurance operating data

-- Distribution of health insurance premium income: Guangdong Province is the largest

Due to the obvious inter-regional economic effect, the development level of health insurance in economically developed areas is much higher than that in economically backward areas. In 2020, among different provinces and cities, the highest region, Guangdong Province, had a premium income of 69.4 billion yuan, and the top five regions in Guangdong, Shandong, Jiangsu, Henan and Beijing accounted for the national premium income.

-- Health insurance depth density: Beijing has the highest insurance depth, and Heilongjiang has the highest insurance density

The health insurance premium income of the region and the local economic level directly determine the insurance depth of the reform area, and the two determine the depth of health insurance insurance, and the insurance depth of Heilongjiang in 2020 is the first in the depth of health insurance in all provinces and cities in the country. In addition to the health insurance premium income, the insurance density also depends on the number of regional populations, and in 2020, Beijing ranked first in the country in terms of health insurance density per yuan.

Health insurance company operation: Chinese Life and Ping An Life are in the first echelon of the industry

In 2020, in terms of health insurance, the premium income and compensation expenses of Chinese Life and Ping An Life were much higher than those of other insurance companies, ranking in the first echelon of the industry. The premium income and compensation expenses of the top 10 insurance companies are as follows:

The latest investment and financing trends in the health insurance industry: focusing on the field of insurance technology

Since 2020, the investment and financing layout of enterprises in the health insurance industry has mainly focused on the insurance technology field in the process of insurance marketing, policy claims and other processes. The latest investment and financing trends of some representative enterprises are as follows:

The current situation of the development of the insurance industry is still very good, because everyone recognizes the benefits of insurance and the importance of insurance, so generally people will buy insurance, and the future trend is that insurance companies will develop more insurance that is better for people, and people will also buy related insurance, so that the development of insurance companies will be more prosperous.

It's all exceptional. This is because people's overall quality has improved, and their sense of distress is particularly high. Therefore, people pay special attention to insurance, and will buy insurance for themselves to make themselves feel more secure. So the industry will also get better and better.

In the future, the development will definitely get better and better, the trend is also very good, and many people are very fond of insurance now.

The current situation of development is still very good, and the trend in the future can be said to be very impressive, and now the industry is developing better and better.