In 2023, the first release of the knowledge graph of Huimin Insurance! The iteration of stock products has become the mainstream of the market, and it is necessary to be vigilant against the upgrade of "fake Huimin".

At the 3rd Fudan University Inclusive Insurance and Innovation Forum held today, the "2023 Urban Customized Commercial Medical Insurance (Huimin Insurance) Knowledge Graph" was released. The report shows that the basic market of Huimin Insurance has been steadily expanding, but the vertical iteration of existing products is replacing the horizontal expansion of new products and becoming the mainstream model of the market. As of November 15, 2023, a total of 622 new and iterative products have been launched in various provinces, autonomous regions and municipalities directly under the central government.

The report also summarized the ten iterative directions of Huimin Insurance: adjusting insurance rates, increasing version selection, optimizing operation plans, adjusting insurance amounts and deductibles, adjusting compensation ratios, increasing or decreasing product liability categories, increasing drugs and indications, adjusting value-added service items, providing renewal discounts, and changing the compensation plan for patients with pre-existing conditions.

Intensify the reform of "government endpoints" and "product endpoints".

The forum was hosted by the Insurance Innovation and Investment Research Center of Fanhai International School of Finance, Fudan University, co-organized by the Inclusive Finance Committee of the Shanghai Insurance Society, and supported by the Commercial Insurance Research Branch of the China Social Security Association, Shanghai Insurance Magazine, Yangtze River Delta Insurance Expert Think Tank, Rehabilitation Technology, and China Pacific Life Insurance. The forum actively responds to the spirit of deepening the reform of the national medical security system, makes suggestions and suggestions for the construction of a multi-level medical security system, and strives to do a good job in inclusive finance.

Qian Jun, Executive Dean of Fanhai International School of Finance, Fudan University, said in his speech that the core concept of inclusive finance is to let more people enjoy the convenience of financial services and improve the penetration and accessibility of financial services. The Insurance Innovation and Investment Research Center closely follows the national strategy and industry development, and has made many achievements in the research of hot topics in the insurance industry and the cultivation of insurance talents.

In the keynote speech session, Zhou Yanli, former vice chairman of the China Insurance Regulatory Commission and member of the 13th National Committee of the Chinese People's Political Consultative Conference, delivered a keynote speech on "Deepening Reform and Innovation and Development, Huimin Insurance Helps the Construction of a Multi-level Medical Security System", pointing out that inclusive medical insurance has made important contributions to the medical security of mainland residents, and elaborated on the sustainable development of Huimin Insurance from multiple perspectives. He proposed that it is necessary to coordinate and promote the cooperation between the insurance industry and the medical insurance department and medical institutions, achieve effective coordination, and create a good external environment for the development of commercial health insurance.

Zheng Bingwen, director of the World Social Security Research Center of the Chinese Academy of Social Sciences and member of the 13th National Committee of the Chinese People's Political Consultative Conference, reviewed and analyzed the three factors and potential challenges of Huimin Insurance sweeping the country with the title of "Huimin Insurance from the Perspective of Five Financial Articles", combined with the theoretical basis of "digital finance", and proposed to increase the reform of "government endpoints" and "product endpoints" at the same time from the two levels of system design and product iteration, and looked forward to the future trend of Huimin Insurance under the condition of limited government support with the "Shanghai Insurance Code" as an example.

Ding Peng, Group Political Director of CPIC Life Insurance, gave a detailed introduction to CPIC Life's proposition of "adhering to the path of high-quality development and helping long-term sustainable development" and the practice of "creating exclusive solutions for CPIC and setting up industry benchmark projects" with the title of "Politics and Business Collaboration to Benefit People's Livelihood and the Practice and Exploration of Huimin Life Insurance for the People's Livelihood", emphasizing that "universal" is the foundation of Huimin and "Hui" is the original intention of Huimin, and shared the thinking of "taking capital and small profits as the foundation of business and building long-term sustainable development through multi-party co-construction".

The knowledge graph of Huimin Insurance focuses on the perspective of longitudinal iterative analysis of Huimin Insurance for the first time

Xu Xian, director of the Department of Risk Management and Insurance of Fudan University and vice president of the Shanghai Insurance Society, said that Huimin Insurance, as a new attempt to integrate social insurance and commercial insurance, has carried the mission of "universal and beneficial to the people" since its birth, and has developed rapidly and continuously iterated. He introduced that his team has been focusing on Huimin Insurance market research for five consecutive years, and has released the research results of Huimin Insurance in the form of a knowledge graph for three consecutive years, and the "2023 Urban Customized Commercial Medical Insurance (Huimin Insurance) Knowledge Graph" summarizes the overall development overview, local development trends and ten iteration directions of Huimin Insurance in the past four years. For the first time, the report focuses on the vertical iterative analysis perspective of Huimin Insurance, incorporates the product iteration plan into the data system, and builds the underlying data of Huimin Insurance including new products and iterative plans, which comprehensively portrays the ecology of Huimin Insurance.

According to the report, from the perspective of time, from the launch of the first Huimin Insurance product in 2015 to the market explosion period in 2020, the growth rate of the Huimin Insurance market has gradually slowed down, with 83 new Huimin Insurance products in 2021, 72 new Huimin Insurance products in 2022, and 27 new Huimin Insurance products from January 1, 2023 to November 15, 2023. The new products are distributed in 13 provinces, and Xinjiang has achieved a breakthrough of "zero" for Huimin Insurance. The 27 new products are distributed in 13 regions including Anhui, Guangdong, Gansu, Hunan, Hubei, Henan, Jiangxi, Liaoning, Sichuan, Shandong, Shaanxi, Xinjiang and Yunnan. The features of the new products are basically the same as those of previous products, and they still maintain the attribute of "inclusiveness". The average rate of a single-rate product is about 95 yuan. Hospitalization expenses in medical insurance are still the main risk covered by Huimin Insurance products. The deductible is mainly distributed in the range of 0 yuan to 80,000 yuan, and the cumulative insurance amount is mostly distributed in the range of 2.1 million yuan to 3.1 million yuan.

In terms of product operation continuity, the report shows that more than seventy percent of Huimin Insurance products operate healthily. As of November 15, 2023, among the 284 Huimin Insurance products launched by provinces, autonomous regions and municipalities directly under the Central Government (excluding iterative products), 211 products are in normal operation, accounting for about 74.30%. Among them, 52 products are in operation in phase 1, 63 products are in operation in phase 2, 52 products are in operation in phase 3, 41 products are in operation in phase 4, and 3 products are in operation for more than 4 periods. Among the products in continuous operation, the city-level overall planning products account for more than eighty percent, and the provincial overall planning products account for nearly two percent. 170 products are municipal-level co-ordinated products, accounting for 81% of the current number of products in operation, and 41 products are provincial-level co-ordinated products, accounting for 19% of the current number of operating products. In terms of the operation mode of continuous operation products, "one place, one policy" is still the mainstream operation model. According to the data, 9 provinces and 126 cities are the "one place, one policy" plan, and 12 provinces and 19 cities are operating multiple products at the same time.

According to the report, "more inclusive" is the iterative purpose of Huimin Insurance, and the iterative plan is of positive significance for Huimin Insurance to solve the death spiral crisis, but in the process of product upgrading, it is still necessary to be vigilant against the upgrade of "fake Huimin" to protect the rights and interests of insurance consumers.