On August 27, the interim reports of five listed insurance companies had all disclosed. According to the interim report, due to the impact of the new crown pneumonia epidemic, the development of the insurance industry has been affected to a certain extent. However, as the performance of various insurance companies has improved in the second quarter of this year, the overall development of insurance companies has not slowed down significantly.
An obvious feature of this year's interim report is that the profits of the five listed insurance companies have declined to varying degrees, but the reasons are different. For example, China Life’s net profit attributable to the parent fell by 18.8% year-on-year to 30.5 billion yuan, mainly due to the one-time impact of the new income tax rules of about 5.2 billion yuan in the same period last year and the 12.656 billion yuan of supplementary liability reserves in this period. In the first half of the year, Xinhua Insurance achieved a total premium of 96.879 billion yuan, a year-on-year increase of 30.9%, driven by the high growth in premiums of the bancassurance channel, and the scale of premiums continued to rise.
Although the data is not satisfactory, the overall performance is still bright. The more obvious ones are health insurance and insurance technology, which are closely related to the general environment of China's insurance industry. Last year, my country's per capita GDP jumped to a new level of 10,000 US dollars for the first time, which means that residents' demand for insurance protection has further increased, which provides a huge development space for the insurance industry, especially the life insurance industry. Benefiting from the increasing urbanization rate, the “Healthy China” strategy, and the resonance of the technological innovation cycle, the insurance industry is entering the era of pursuing high-quality development and focusing on providing effective protection. Health insurance and insurance technology will inevitably gain more benefits from insurance companies. More resources investment.
According to data from the China Banking and Insurance Regulatory Commission, in the first half of this year, insurance premium income increased by 6.46% year-on-year, which was a year-on-year decrease of 7.7%. However, health insurance premium income increased by 19.72% year-on-year, making it one of only three insurance businesses that achieved double-digit growth in the first half of the year.
The importance of insurance companies on health insurance has been on the rise. For example, in the first half of the year, China Pacific Insurance firmly grasped the health insurance market development window period, continued to improve the health insurance product system, coordinated the development of life insurance business and optimized customer experience, and promoted the growth rate of life insurance cooperation business to 57.6% in the first half of the year; Xinhua Insurance Through product innovation and iterative upgrades, it is planned to support the development of innovative business into a synergistic link in the health care industry, and promote the company's overall business to acquire, maintain and store customers.
Recently, China Life has invested 2 billion yuan to subscribe for 7.84% of Wanda Information, intending to expand its health insurance business. Zhang Di, the person in charge of China Life Investment Management Center, said that Wanda Information is engaged in software development for medical and health, people's livelihood and health, and the two parties are very compatible in terms of customer business synergy. Zhan Zhong, vice president of China Life, said that the collaborative business areas of the two parties include medical insurance technology, health management services, cloud computing, big data, etc., and cooperation projects in medical insurance technology have landed.
In insurance technology, all insurance companies are making efforts. For example, China Pacific Insurance uses technology empowerment to provide customers with "smart services", including smart security, smart claims, smart reporting, etc.; China Life fully promoted "contactless services" in the first half of this year, realizing online paperless personal long-term insurance The insurance application rate reached 99.80%; PICC has penetrated technology into the entire process of auto insurance services to achieve a high degree of efficiency and speed. As of the end of June this year, Ping An’s number of technology patent applications increased by 4,625 from the beginning of the year, reaching a total of 26,008. Ranked first in the global financial technology patent application rankings for two years.
Our reporter Jiang Fan