The reporter learned in the interview that after the release of the 2020 edition of the disease definition specification, many insurance companies have paid attention to claim service and new product development at the same time. At present, many insurance companies have promised to define as superior when settling claims, and settle claims from the perspective of benefiting insurance consumers. Some insurance companies have said that they are formulating corresponding plans and will release them in the near future.
In terms of new products, there are not many products officially appearing at present, but analysts believe that the overall price may decline, and the security will be layered and more scientific.
You can get a claim if you meet any of the criteria
With the release of 2020 version of severe illness standard, the problem of claim settlement standard of old policy customers has become the focus of the industry. According to incomplete statistics by the reporter of Securities Daily, at least seven insurance companies, including AIA, China life, Ping An Life, Taikang Life Insurance, Taiping Life Insurance, Evergrande life insurance and ICBC AXA, have issued the announcement of preferential definition when settling claims. At the same time, the relevant person in charge of Xinhua Insurance told the reporter that the company has also formulated the scheme of claim definition optimization and is in the process of settlement It will be officially released in the near future.
What is the definition of preferential claims? China Life Insurance pointed out that the company, in combination with the 2020 version of the severe illness specification, and fully considered the current prevailing medical technology development and medical diagnosis standard development trend, launched the preferred claim settlement scheme. If the customers who hold the valid policy of China Lifes long-term major illness insurance products have confirmed the insurance product terms for the first time after the release of the 2020 version of the serious illness specification (November 5, 2020) For the major diseases listed in, the company will choose the one that is beneficial to customers based on the two medical diagnostic criteria for the disease. That is to say, if the major disease of the customer meets the medical diagnosis standard of the corresponding disease in the original insurance product terms, or conforms to the medical diagnosis standard of the same disease in the 2020 edition of the serious disease specification, and meets other payment conditions agreed in the insurance contract, the corresponding insurance benefits can be compensated.
Industry insiders believe that in the transition period between the old and new serious illness insurance, insurance companies promise to settle claims with superior quality, which not only benefits consumers, but also promotes product sales and improves brand image. At the same time, even if the insurance company does not have a clear claim preferential scheme, consumers can also fight for it according to relevant laws and regulations.
Two major changes in new products for serious diseases
From February 1, next year, the sales of serious illness insurance based on the 2007 version of the specification for severe diseases must be stopped, and only the products under the new definition can be sold. So now, all major insurance companies are speeding up the development of new products. Our company is also paying close attention to communicating with the channel side and the reinsurer to design new products. The specific situation will not be released until later. Someones life insurance company actuarial head said.
The reporter learned that the transition period of the new and old critical illness insurance coincides with the period when the insurance company promotes a successful start. Therefore, the staff of actuarial department, product department and marketing training department are very busy. Although annuity insurance and universal insurance products are generally promoted during the good start, serious illness insurance is also very important, and product development time is relatively tight. A person in charge of an insurance company said that during the transition period from the old to the new serious illness insurance, some old products have been taken off the shelves, but if there is a definition of preferential service commitment, the sales of old serious illness insurance will be promoted at present.
What changes will happen to the product form of serious illness insurance based on the 2020 version of the serious illness specification? Wang Mingyan, director of the product development division of the actuarial department of China Re life insurance, believes that the two new features deserve attention. First, from the perspective of product structure, the incidence of major diseases in the 20-50 years old will be greatly reduced, which will lead to the price breakthrough of regular serious illness insurance. It is expected that in the Internet channel, regular critical illness insurance will become more popular, focusing on the selling point of minimalism and high leverage; while in the agent channel, the structure of serious illness insurance will be slightly adjusted, and more additional responsibilities will be added on the basis of lifelong serious illness, so as to further improve the security efficiency and responsibility richness.
In terms of product risk characteristics, the risk of mild illness liability is increased by grading compensation for thyroid cancer. Therefore, the risk exposure of thyroid cancer may not be less than that of the old definition if there is a minor illness premium exemption. It is expected that the industry will be more cautious in the design and innovation of light disease responsibility.
Serious illness insurance is a very important form of insurance products in the field of health insurance, and is one of the most important insurance businesses of insurance companies. According to the statistical data of serious illness incidence table items, from 2007 to 2018, the serious illness insurance has provided consumers with more than 3000 products, with a total of nearly 200 million person times of insurance coverage, a cumulative compensation of about 1.8 million person times, and the compensation amount of more than 100 billion yuan. At present, serious illness insurance accounts for nearly 60% of the total premium of health insurance business.
At present, the first section of the new definition of serious illness insurance, Guangdong, Hong Kong, Macao and Dawan District, has been launched. As insurance companies gradually launch more new products, the sales of serious illness insurance will be accelerated again. The actuarial head of the said insurance company said.
Source of this article: Yang Qian, editor in charge of Securities Daily_ NF4425