**Times reporter Deng Xiongying.
The explosive growth of urban customized commercial medical insurance (commonly known as "Huimin Insurance") is slowing down.
The recently released "2023 Urban Customized Commercial Medical Insurance (Huimin Insurance) Knowledge Graph" (hereinafter referred to as the "Knowledge Graph") shows that the basic market of Huimin Insurance has steadily expanded, and the iteration of existing products has gradually become the mainstream mode of market development. The growth rate of the Huimin Insurance market has gradually slowed down, with 83 and 72 new Huimin Insurance products added in 2021 and 2022 respectively, while only 27 new Huimin Insurance products will be added from January 1 to November 15, 2023.
In terms of the sustainability of product operation, more than seventy percent of Huimin Insurance products operate healthily. As of November 15 this year, among the 284 Huimin Insurance products launched by various provinces, autonomous regions and municipalities directly under the Central Government (excluding iterative products), 211 products are in normal operation, accounting for about 7430%；73 products have ceased operation, and the operation cycle is mainly concentrated in 1 2 years.
Huimin Insurance, that is, urban customized commercial medical insurance, is a service innovation of commercial insurance to participate in the multi-level medical insurance system, which was first launched in Shenzhen in 2015 and has become a phenomenal insurance product that has swept the country in recent years. According to incomplete statistics, the total number of insured people of Huimin Insurance has reached 29.8 billion, in 2022 alone, the effective sales volume of Huimin Insurance will reach about 11.5 billion pieces.
Since Huimin Insurance has both commercial and public attributes, the discussion in the industry has been very lively about the sustainable development of Huimin Insurance. The slowdown in the growth rate of Huimin Insurance's new products means that the explosive growth stage of Huimin Insurance is beginning to come to an end. As the market enters a period of steady advancement, the challenges of Huimin Insurance's sustainable development are becoming increasingly apparent.
Some experts believe that on the whole, the number of insured people in various places is still increasing, and the coverage is positive.
Fourth- and fifth-tier cities are extended, and it may be too early to talk about the adverse selection of Huimin Insurance. However, theoretically speaking, there is still a potential risk of adverse selection for Huimin Insurance. In fact, some signs have begun to appear in individual areas, such as in a local Huimin Insurance project, some companies have withdrawn from the project due to long-term inability to make a profit;In some cities, the participation rate of Huimin Insurance has declined, which requires co-insurance entities to pay more costs to acquire new customers to make up for the dropouts.
In addition, the development of Huimin Insurance varies greatly from place to place. As an urban customized medical insurance, Huimin Insurance is basically advancing in accordance with the model of "one city, one policy". Due to the different positioning and development models of Huimin Insurance in various places, the insurance situation also shows great differences. According to a previous report released by China Re Life Insurance, the median participation rate of Huimin Insurance in 2022 will be in the range of 5% to 10%, and there will be 10 products with an insurance participation rate of more than 30%, but there are also some areas with an insurance participation rate of less than 4%.
It can be predicted that as Huimin Insurance enters a period of steady advancement, the trend of differentiated development of Huimin Insurance in various places will become increasingly prominent. **How to create a good environment to promote the further development of health insurance such as Huimin Insurance, how to design products that can better meet the needs of the people, and how to improve the ability of health management services according to local conditions, which is a big challenge for city managers and Huimin Insurance underwriting companies.
Some experts have proposed that if Huimin Insurance wants to avoid the "death spiral", it needs to be reformed and empowered from two endpoints at the same time: on the one hand, it is close to the social security endpoint in terms of system design;On the other hand, in terms of product design, it is close to commercial insurance.
At present, Huimin Insurance mainly improves the plan through continuous iterative upgrading on the product side, including increasing version selection, adjusting the compensation ratio, increasing or decreasing product liability categories, adding drugs and indications, and adjusting value-added service items. "Knowledge Graph" believes that 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 also necessary to be vigilant against the "fake Huimin" upgrade to effectively protect the rights and interests of insurance consumers.
In general, the sustainable development of Huimin Insurance requires more professional and standardized operation to escort it. On the financing side, Huimin Insurance needs to increase the participation rate and renewal rate as much as possibleOn the payment side, Huimin Insurance needs to solve three problems: what should be paid, how much to pay, and how to payOn the operational side, it is necessary to draw a clear boundary between the rights and responsibilities of the business entity and give the business entity the initiative to fully participateAt the policy level, in order to further promote the smooth and orderly development of Huimin Insurance, it is also necessary to further strengthen the top-level design, standardize business behavior, and guide the healthy development of Huimin Insurance's business.