The sustainable and healthy development of commercial pension insurance (Financial Eye)
Our reporter Zhao Zhanhui
According to the seventh national census, there are more than 264 million people aged 60 and over, accounting for 18.70% of the total population, and the proportion of the elderly population is rising rapidly.
The deepening of the aging of the population also brings new opportunities for the development of the health care industry and the "silver economy".
As the "third pillar" of the pension system, commercial pension insurance will play an increasingly important role in the pension system.
To help develop a multi-level and multi-pillar pension insurance system, what explorations has the insurance industry conducted?
How to promote the better development of commercial pension insurance?
The reporter conducted an investigation and interview.
Commercial pension insurance is in the early stage of development, but the business space is relatively large
"Insured for 20 years, paid more than 200,000 yuan in premiums per year, and received 700,000 yuan in pension insurance funds after retirement." Ms. Chen, 40 this year, purchased Ping An Yixiang for herself after multiple comparisons and careful selection. Extension of annuity insurance.
Ms. Chen's husband and wife are both only children, and there are 6 elderly people in the family including both parents and grandparents.
“The old-age care still has to plan ahead and plan as soon as possible.” As the old-age burden is getting heavier, Ms. Chen has gradually realized the necessity of buying old-age insurance for herself. “Not only will there be long-term and stable returns, it will also reduce the burden for children in the future. It’s the same to bear such a heavy pension pressure."
At present, my country’s multi-level old-age insurance system is composed of “three pillars”: “The first pillar” refers to the basic old-age insurance system, which is dominated and managed by government departments; “Second pillar” refers to the advocacy of government departments. And enterprise annuities and occupational annuities developed independently by enterprises; the "third pillar" is the accumulation of long-term pensions voluntarily carried out by individuals, mainly commercial pension insurance.
What Ms. Chen bought was commercial pension insurance.
The reporter learned that since the General Office of the State Council issued the "Several Opinions on Accelerating the Development of Commercial Pension Insurance" in 2017, my country's commercial pension insurance has continued to develop in a healthy manner.
"In recent years, the development of the'third pillar' has achieved good results." According to Wang Xujin, director of the Insurance Research Center of Beijing Technology and Business University, for example, in 2018, the pilot of the personal tax deferred commercial pension insurance was launched, which clearly ensures that the payment of expenses can be delayed. Tax to encourage individuals to purchase commercial pension insurance products.
As of the end of April 2020, a total of 23 insurance companies have participated in the pilot program, 19 companies have issued orders, and have achieved a total of 300 million yuan in premium income, with 47,600 people participating in insurance.
At the same time, the elderly housing reverse mortgage pension insurance will be expanded from a pilot to nationwide, professional pension insurance institutions will increase, pension accumulation and receiving services will be more flexible and exclusive commercial pension insurance pilots will be launched soon... A series of commercial pension insurance exploration and innovation continue Unfold.
"Although the'third pillar' is still small in scale and in the early stages of development, it has a large business space." Wang Xujin believes that the "14th Five-Year Plan" period is a golden period for the high-quality development of my country's commercial pension insurance and health care industry.
Experts said that during the "14th Five-Year Plan" period, it is necessary to rely on the professional advantages of commercial insurance institutions and the role of market mechanisms to support the expansion of commercial pension insurance product supply, broaden service areas, and improve security capabilities, and give full play to the role of commercial pension insurance in improving the pension security system and promoting The role of a new force in the development of the elderly service industry and the promotion of economic quality and efficiency.
“Insurance institutions should increase the supply of commercial pension insurance products and develop more comprehensive pension-related insurance configuration plans to better meet the individual needs of consumers.” Sun Hanjie, assistant to the general manager of Ping An Life, analyzed, for example, in the pension process, in addition to funding needs In addition, there is also the possibility of chronic diseases, disability, and serious illnesses for the elderly. Therefore, in addition to pension insurance products, it is necessary to simultaneously configure major illness insurance and disability insurance.
Combination of medical care and elderly care, technology empowerment, and promote high-quality development of elderly care services
With a voice command, an intelligent robot walks to the bed to help the elderly get up; when they come to the washbasin to brush their teeth, the cosmetic mirror can display the dental health record; when an emergency occurs during the bath, pull the alarm on the side of the nozzle , Professional service personnel will be in place immediately...In the model room of the first health care community "Yi Niancheng" of Ping An Group of China recently unveiled, the intelligent elderly care scenes full of science and technology attracted the admiration of visitors.
Not only is it developing endowment insurance products on the consumer side, but also on the end of the provision of endowment services, expanding services including medical care, nursing care, and health care. The integrated model of "insurance + service" has become a common attempt by various insurance institutions.
In 2012, Taikang Insurance took the lead in launching the pension product "Happiness With Covenant" that combines insurance products with medical care entities, and relying on Taikang Longevity Community to provide a one-stop pension plan of "annuity insurance + pension services".
At present, Taikang has completed the layout of large-scale medical-care integrated elderly care communities in 22 cities such as Beijing, Shanghai, Guangzhou, Hangzhou, etc., which can accommodate about 55,000 elderly people, and more than 4,400 elderly people have been living in 7 elderly care communities in operation.
Xinhua Insurance has also developed retirement apartments for the disabled, semi-disabled and chronically ill elderly people, providing life care services ranging from professional nursing to rehabilitation medical care and nutritional meals.
"I was in a wheelchair when I checked in, and after more than a year I can walk with the help of a nursing staff!" Ms. Zhou, 86, who lived in Xinhua Homes·Beijing Lianhuachi Zunxiang Apartment two years ago, told reporters that she is in retirement. The apartment can enjoy "one-on-one" care, as well as tailor-made dietary conditioning and supporting rehabilitation treatment in the rehabilitation hospital. You can live comfortably and your children will feel more at ease.
“Pension insurance can only provide financial protection, and subsequent service guarantees are a relatively large pension shortcoming. Insurance funds should be invested in the pension service industry and participate in the construction of a more complete health care industry chain.” Nankai University Health Economics and Medical Care Zhu Minglai, director of the Security Research Center, believes that insurance funds have natural advantages in entering the elderly service industry. The large scale of insurance funds, long term, and the pursuit of long-term stable income determine its natural fit and good relationship with the elderly service industry.的matchability.
At the same time, under the "insurance + service" model, the combination of financial products and old-age services, old-age financial management and old-age consumption, insurance companies can better leverage their advantages in terms of funds, channels, and customers.
At present, in the exploration of the development of the health care industry, insurance institutions pay more attention to the function of platform aggregation, and further open up and integrate the industrial chain through technology and medical empowerment.
"The offline health and medical service network with Ping An Health as the main body is our major advantage. Insurance institutions should act more as a'connector' for the integration of medical and elderly care." Hu Tingzhou, Chief Product Officer of Ping An Life, said that this network has already covered More than 100 cities, 110,000 pharmacies, 49,000 clinics, more than 300,000 doctors are connected, and the health database covers 30,000 diseases.
At present, about 90% of the elderly in my country rely on home care for the elderly, about 7% of the elderly rely on community support, and 3% of the elderly live in institutions for the elderly. The construction of elderly care communities and development institutions for elderly care can only meet the needs of a small part of the population.
In order to allow more elderly people to receive old-age care services, strengthening home-based old-age care services has become the focus of insurance institutions.
"At present, Ping An is using artificial intelligence and other technological means to build a health care system adapted to the home environment, including cleaning and cleaning, real-time monitoring, remote care and other services. While covering more elderly people, it can also better achieve early disease detection. , Early prevention and early treatment, to ease the pressure on the medical care and elderly care service system.” Sun Hanjie said, for example, for example, crotch and hip fractures caused by the fall of the elderly living at home can easily lead to other health problems, and the fatality rate is high, but the hip The structure is complex and it is difficult to find after a fracture. Ping An cooperated with the hospital and applied artificial intelligence to perform X-ray image analysis, which reduced the misdiagnosis rate of this problem from 9.7% to 0.7%.
Both ends of supply and demand work together to form a virtuous circle of finance and services
In today's rapidly increasing demand for the elderly, how can the insurance industry play a better role in supporting the pension system?
Experts believe that in order to work from both the demand side and the supply side, insurance institutions must increase the supply of pension insurance products, promote pension consumption, and consolidate the "third pillar" on the one hand, and increase the supply of pension services and help the health care industry on the other hand. Development, forming a virtuous circle of financial products and service guarantees.
From the supply side, commercial pension insurance products have problems such as homogenization of design and lack of innovation.
According to preliminary statistics, among the products currently on sale by commercial insurance companies, there are thousands of products that can be purchased by people aged 60 and above, including life insurance, annuity insurance, health insurance, and accident insurance.
However, overall, the development of insurance products for the elderly is still unbalanced and inadequate, and many products lack targeted protection functions, making it difficult to meet the personalized and diversified needs of the elderly for the elderly.
From the demand side, for a long time, my country’s old-age security system has been dominated by the “first pillar” of basic old-age insurance, and the public has insufficient understanding of the aging trend and the old-age insurance system.
Some incentive policies have not yet formed a strong attraction.
"The development of more insurance products for the elderly needs to be further opened up on the medical and other data of the elderly." The relevant person in charge of Taikang Insurance said that the insurance institutions have insufficient accumulation of elderly-related health care data, and underwriting work is also challenging and restricts it to a certain extent. A breakthrough development of insurance products for the elderly.
It is hoped that medical institution data and medical insurance data can be further opened up in an orderly, safe and fair manner and serve more elderly people in a targeted manner.
Wang Xujin believes that while promoting more diversified products, we should also further increase policy incentives to attract more urban and rural residents to purchase commercial pension insurance. "For example, increase tax incentives and expand the scope of the tax-deferred pension annuity pilot area. Consider granting some commercial pension insurance product subsidies to mobilize the enthusiasm of urban and rural residents to purchase commercial pension insurance."
In terms of investing in the development of health care service industries, many insurance institutions believe that it is necessary to further improve the top-level design, clarify the standards for evaluation, service and other links, and promote the development of market standards. “Currently, domestic catering services and long-term care services provided for the elderly at home are mostly scattered and fragmented. The service content lacks standards and the operating procedures are not standardized enough.” Sun Hanjie believes that the standards of the health care service system should be improved as soon as possible. Guide professional service personnel to improve their level and promote the high-quality development of the health care service industry.