Tailor-made Winter Olympics services to escort sports development——
Sports insurance to a bigger stage
Our reporter Yu Yong
The 2022 Beijing Winter Olympics have come to an end. The success of the Winter Olympics cannot be separated from the efforts of organizers, builders, and volunteers, as well as the escort of financial institutions.
In recent years, the holding of a series of international events has made domestic sports insurance continue to heat up and become a must for sports enthusiasts and event organizers.
During the interview, the reporter learned that the current sports insurance on the market has both single insurance and a package of solutions, which can be roughly divided into four categories: first, public liability insurance for participating athletes, spectators, volunteers and other participants; and Personal accident insurance, second, major event organization liability insurance and cancellation liability insurance for sports event organizers, third, liability insurance and property insurance for sports facilities and product providers, fourth, exclusive health insurance, occupational insurance for professional athletes Disability income loss insurance, etc.
Race insurance matures
As early as 2015, when the Chinese Grand Prix of the Formula One World Championship (F1) was held in Shanghai, the insurance industry actively participated in the event guarantee work.
On the one hand, it provides comprehensive public liability protection for F1 events, such as providing more than ten risk protections for third-party personal injury and property damage caused during the competition, providing a compensation limit of up to 75 million US dollars.
On the other hand, tailor-made short-term accident health insurance for more than 1,100 referees, ambulance personnel and volunteers. In the event of an accident, the injured will receive insurance compensation of up to $30,000 and disability compensation of up to $30,000 .
According to Li Mingxiao, director of the Beijing Banking and Insurance Regulatory Bureau, in recent years, the regulatory authorities have instructed insurance companies to actively research and develop exclusive insurance protection clauses related to sports events.
Since 2020, 4 property insurance companies in Beijing have launched a total of 58 ice and snow related insurance products, providing a total of 323.3 billion yuan in risk protection, covering venue public liability insurance, organizer liability insurance, accident insurance for skiers, and accident insurance for professional athletes. It provides comprehensive risk protection for various groups such as venue construction and operation, event organization, equipment manufacturing, and ice and snow sports participants.
During the Beijing Winter Olympics, the Beijing Banking and Insurance Regulatory Bureau took the initiative to meet the risk protection needs of the Winter Olympics Organizing Committee, and customized four exclusive insurance plans for the Winter Olympics, including comprehensive liability insurance, property insurance, auto insurance, and accident health insurance, to fully meet the needs of pre-competition insurance. , in-game and post-match risk management needs, and give exclusive policies in terms of coverage and claims services.
For example, the risk of the new coronary pneumonia epidemic is included in the scope of protection, and the comprehensive insurance clauses for the new coronary pneumonia personal insurance exclusive to the Winter Olympics are developed to provide insurance coverage for death, medical expenses, and emergency rescue expenses caused by the new coronary pneumonia.
Before the opening of the Winter Olympics, the Beijing Bureau of Banking and Insurance Regulatory Commission has completed the review and filing of 30 Winter Olympics-specific insurance clauses, instructing insurance institutions to provide comprehensive auto insurance protection for the more than 4,000 service vehicles of the Winter Olympics Organizing Committee, and for "Meet Beijing" More than 9,000 staff, volunteers, coaches and athletes in the series of test competitions provided accidental injury and accidental injury medical insurance coverage, with an insured amount of 10.855 billion yuan.
In the next step, the Beijing Bureau of Banking and Insurance Regulatory Commission will guide the property insurance companies within its jurisdiction to continue to ensure the smooth holding of the Beijing Winter Paralympics and successfully complete various insurance service tasks.
At the same time, it actively develops more diversified and personalized ice and snow sports insurance products, continuously improves insurance service capabilities, fully meets the security needs of enterprises, consumers and other ice and snow sports participants, and escorts the sustainable and healthy development of the ice and snow industry.
Personal protection gradually improved
During the Winter Olympics, as the attention of snow sports gradually increased, the topic of "the end of the snow track is orthopedics" once rushed to the hot search, which also shows the high risk of skiing from one aspect.
At present, most ordinary accident insurance products on the market do not cover high-risk sports such as skiing, diving, rock climbing, and skydiving. .
Zhou Yanli, the former vice chairman of the China Insurance Regulatory Commission, once wrote an article to sort out the development of domestic sports insurance.
The article points out that sports are relatively high-risk activities, and the risk of accidental injury is relatively high. General accident insurance usually exempts more intense sports from liability. Therefore, special sports insurance requires insurance companies to develop products according to different sports. , and formulate reasonable prices and claims service items based on past losses.
Liu Xinli, deputy director of the Department of Risk Management and Insurance at Peking University, believes that insurance relies on the law of large numbers, and its price matches the risk.
High-risk sports have a high probability of being out of danger and a high loss rate. If ordinary accident insurance includes high-risk sports protection, the price of ordinary accident insurance will be raised.
This is unfair to the vast majority of insured people who do not engage in high-risk sports.
Therefore, it is necessary to develop exclusive insurance products for high-risk sports.
During the interview, the reporter learned that many insurance companies such as Huatai Insurance, Ping An Insurance, and Zhong An Insurance have developed different insurance products for high-risk sports.
Taking the “National Ice and Snow Sports Accident Insurance” launched by ZhongAn Insurance as an example, it can provide protection for the insured in alpine skiing, snowboarding, sledding, ice skating, ice hockey and other sports in profitable places. The coverage covers both accidents. Medical treatment, accidental death and disability, accidental fracture, liability insurance for accidental injury to others and trip cancellation, and even property insurance for theft or damage to skateboards, sleds and other equipment, with the highest total coverage exceeding 400,000 yuan.
In addition, the product also provides users with emergency rescue services, including first aid guidance, medical transportation, and assistance in hospitalization.
Qi Hui, a senior expert in product development of ZhongAn Insurance, believes that there is a huge market demand for sports accident insurance, especially the Winter Olympics has greatly increased the upsurge of national sports, so the market share of various sports accident insurance products is expected to continue to increase.
The industry has broad prospects for development
The "China Ice and Snow Tourism Development Report (2022)" released by the China Tourism Academy predicts that the number of ice and snow leisure tourists in my country will reach 305 million in the ice and snow season from 2021 to 2022, and my country's ice and snow leisure tourism revenue is expected to reach 323.3 billion yuan.
He Jian, general manager of the insurance business department of Huize Insurance Brokers Co., Ltd., believes that the sales scenarios of insurance products are different from other formats. Usually, there are relatively few scenarios where consumers take the initiative to find an insurance product.
Most of the consumption scenarios of ski insurance are in sports scenarios, such as buying ski equipment, finding a coach to learn to ski, tickets for scenic spots, etc. are covered by insurance products.
Insurance products are implanted in every link from users preparing for skiing to going to the skiing site, so the ice and snow fever will definitely drive the sales of insurance products.
A number of industry insiders said in an interview that although domestic sports insurance has made great progress, there are still some problems.
For example, some insurance companies lack insurance products specially formulated for sports organizations and athletes, and only recommend existing accident insurance products to customers in a formatted manner, and use ready-made insurance liabilities to apply rigid coverage to sports.
This brings problems such as high premiums and insufficient coverage, which in turn lacks attractiveness to policyholders.
He Jian believes that insurance companies should clarify the scope of coverage, specify deductibles in the clauses, formulate scientific rates and continuously update them.
For example, in product design, differentiate the ordinary experience version plan and the professional event training version plan; regularly retrospectively analyze product sales and claims data to ensure that the insured obtains risk protection that matches the premium.
The reporter learned in the interview that under the general trend of the development of the sports industry, the necessity of sports insurance and sports risk management has become increasingly prominent.
For example, most large ski resorts currently include insurance in their ski tickets, but many small and medium-sized ski resorts do not have insurance in their ski tickets.
When purchasing tickets, consumers should carefully understand whether insurance is included, carefully check the insurance coverage, exemption clauses, insured amount and claims conditions, and keep the insurance certificate.
If the ski ticket does not contain insurance, consumers can also purchase insurance products such as accidental injury insurance for skiers in advance on the official website of the insurance company and other channels to increase their protection.
Liu Xinli believes that with the continuous popularity of ice and snow sports, the data samples accumulated by insurance companies will continue to increase.
In the future, the variety of high-risk sports exclusive insurance will become more and more abundant, and with the increase of the number of insureds, the price will also decrease and stabilize.
Judging from the launch speed of new products of various insurance companies and insurance data, the public's insurance awareness is improving, which will bring new growth points to the development of the insurance industry.
Exciting sports events have stimulated the public's enthusiasm for sports and fitness.
"Drive 300 million people to participate in ice and snow sports" from a vision to a reality.
Qi Hui said that on the one hand, the upsurge of national sports can improve the physical fitness of the public, on the other hand, during the exercise process, it is necessary to avoid risks such as injury or accidental injury to others and damage to sports equipment. "We hope that through continuous product innovation and warm service , to help build a sports power."