China Insurance News: Ping An Health Insurance’s 2021 service semi-annual report released – #stocks chatter


China Insurance News: Ping An Health Insurance's 2021 service semi-annual report released
**Ping An Health Insurance's 2021 service semi-annual report: 15.45 million customers are served, with the highest single payment of 2.12 million, and the shortest claim time of 10 seconds**

Recently, Ping An Health Insurance released the 2021 service semi-annual report. Data shows that during the first half of 2021, Ping An Health Insurance served 15.45 million customers and the total amount of claims exceeded 1.8 billion yuan. The maximum single payment was 2.12 million yuan, and the fastest payment took 10 seconds. In summary, Ping An Health Insurance actively played the role of pandemic control and disaster relief, and provided warm services to elderly customers.

According to the report data, 52.5% of Ping An Health’s claim cases are female customers, while male customers account for 47.5%. The most common types of critical illnesses claimed by female and male customers are both malignant tumors. The second and third most common diseases for male customers are acute myocardial infarction and coronary heart disease, while that for female customers are stroke sequelae and benign brain tumors.

In terms of age, young and middle-aged people aged 18-40 are mostly likely to incur insurance claim, accounting for 45.9%, followed by middle-aged users aged 41-60, accounting for 31.9%. Middle-aged people are at a high risk of health problems and need constant attention. Underage customers aged 0-17 and elderly customers over 60 accounted for 16.3% and 5.9%, respectively.

Source: Ping An Health Insurance

**CBIRC: the fourth evaluation level might affect insurance institutions’ operations of new business**

On July 16, China Banking and Insurance Regulatory Commission(CBIRC) issued the "Measures for the Supervision and Evaluation of Bancassurance Institutions Consumers’ Rights and Interests Protection”(hereinafter referred to as the "Measures") to urge bancassurance institutions to effectively protect the legitimate rights and interests of consumers. The Measures set four evaluation levels. For institutions with a fourth-level evaluation result and impotent rectification measures, relevant regulatory measures will be enforced when they open new businesses and branches.

The evaluation include five basic elements, which are "system construction", "mechanism and operation", "function and service", "education and publicity", "dispute resolution", and one adjustment element "supervision and inspection". The total weight of the five basic elements is 100%.

In particular, "system construction" mainly evaluates the corporate governance and organizational structure construction related to the protection of consumer rights and interests. "Mechanism and operation" mainly evaluates the construction and operation of the consumer protection work mechanism, including consumer protection review, information disclosure, personal information protection, internal staff training, internal assessment, internal audit, etc. "Function and Service" mainly evaluates the implementation of consumer protection requirements in the daily operation of organizations, including marketing publicity, appropriateness management, sales behavior control, cooperative organization management, service quality and charges, etc. "Education and publicity" mainly evaluates the overall arrangement of consumer education and publicity. "Dispute resolution" mainly evaluates complaint management, the number of complaints, and the implementation of multiple dispute resolution mechanisms. "Supervision and inspection" means that the regulatory authority adjusts or reduces the evaluation score based on on-site inspections, reports and investigations, complaints and inspections, major negative events, and the implementation of relevant rectification of the institution.

Source: Hexun Insurance

**Wining Health and B-soft will merge and might become the leader in medical informatization industry**

According to informed sources, Wining Health and B-soft have reached an agreement to merge the two listed companies. At present, the two companies have been in a state of suspension since the market opened today, and their announcements stated that they intend to disclose major issues and will resume trading after relevant announcements are disclosed.

Wining Health and B-soft are the two leading companies in the field of medical information technology. From the perspective of market share, according to IDC's "China Medical Industry IT Solution Market Forecast, 2018-2022", Neusoft Group has a market share of 13.9%, ranking first, followed by Wining Health’s 9.3% and B-soft’s 5.7%. The merger of the two companies means that their combined market share will surpass that of Neusoft Group, and the market structure in the field of medical information technology will be rewritten.

Source: EqualOcean

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