In China, the number of subsidiaries of insurance companies has exceeded 1,500, including technology, medical care, pension and other fields. These subsidiaries not only provide insurers with diversified revenues**, but also provide a more comprehensive service to their customers. In particular, medical, pension and health subsidiaries account for 30% of the total non-insurance subsidiaries and have become an important part of insurance companies. So, why do insurance companies deploy in these areas?What are the prospects for these subsidiaries in insurance companies?This article will analyze the following aspects:
The background of the diversification of insurance company subsidiaries
There are two main aspects of the diversified development of insurance company subsidiaries: one is the competition and regulation of the insurance market, and the other is the aging and health needs of the society.
Competition and regulation in the insurance market.
China's insurance market is a highly competitive one, with more than 40 life insurers, property insurers and insurance groups operating in China as of the end of 2023, including a number of foreign insurers. The competition between insurance companies is not only reflected in the quality, quality and innovation of products, but also in the scope, efficiency and satisfaction of services. In order to improve their competitiveness, insurance companies need to continuously expand their business scope and provide more diversified services to meet the different needs of customers.
At the same time, China's insurance supervision is also constantly strengthening, putting forward higher requirements for insurance companies' capital adequacy ratio, solvency, risk management and other aspects. In order to cope with the pressure of supervision, insurance companies need to optimize their asset-liability structure, reduce the risk of assets, and improve the rate of return on assets. Through the establishment of subsidiaries, insurance companies can invest part of their funds in non-insurance fields, realize the diversified allocation of assets, reduce the concentration of assets, and improve the liquidity and profitability of assets.
Aging and health needs of society
China is a country with a relatively aging population, with more than 2 people over the age of 65 at the end of 2022800 million, with an annual growth of 12.68 million, accounting for nearly 20% of the country's total population, and more than 14% of the population over 65 years old. Aging has brought about problems such as the gap in pensions, the shortage of pension services, and the decline in the quality of pensions. The natural adaptation of insurance funds and long-term investment in the pension industry has formed a demand for long-term steady development. Through the establishment of pension subsidiaries, insurance companies can provide customers with pension protection, and can also provide customers with pension service resources, so as to achieve the dual guarantee of pension.
At the same time, China's health level is also facing challenges, with the development of the economy and the change of lifestyle, people's health needs are also increasing, but the supply of medical resources is relatively insufficient, and the quality and efficiency of medical services need to be improved. Through the establishment of medical subsidiaries, insurance companies can provide customers with medical risk protection, and can also provide customers with medical service resources, so as to achieve dual protection of medical care.
The road of medical pension for insurance companies is an inevitable choice for the diversified development of insurance companies and an inevitable choice for insurance companies to adapt to social needs. By establishing medical, pension and health subsidiaries, insurance companies can not only improve their competitiveness and anti-risk ability, but also provide customers with more comprehensive and high-quality services, so as to realize the social value of the insurance industry.
Among the medical and pension subsidiaries of insurance companies, Taikang Insurance Group is the most famous representative, covering many medical, pension and health companies, such as Health Home, Baibo Dentistry, Soul Drum Tower Hospital, etc. Taikang Insurance Group's medical pension subsidiary not only provides customers with insurance products, but also provides customers with medical services, pension services, health management and other services, building a complete medical and pension ecosystem. Taikang Insurance Group's medical and pension subsidiary has also brought considerable revenue to Taikang Insurance Group, and in 2022, Taikang Insurance Group's non-insurance business revenue accounted for 276%, of which the revenue from medical and pension business accounted for 178%。
Among the medical and pension subsidiaries of insurance companies, in addition to Taikang Insurance Group, many insurance companies are also actively deploying in these fields, such as Taibao Home, Ping An of China, Chinese Life, Xinhua, Guohua Hezhong, etc. At least a dozen insurance companies in the market have invested in more than 60 pension community projects, involving pension real estate, pension services, pension finance and other aspects. The trend of medical pension subsidiaries of insurance companies is diversification and specialization. The medical pension subsidiaries of insurance companies not only involve the three major fields of medical care, pension and health, but also involve different market segments in these fields, such as stomatology, psychology, and nursing. The medical and pension subsidiaries of insurance companies are also constantly improving their professional level, introducing professional management teams, technical teams and service teams to improve their service quality and efficiency.
The road of medical pension for insurance companies: the inevitable choice for diversified development
The road of medical pension for insurance companies is an inevitable choice for the diversified development of insurance companies and an inevitable choice for insurance companies to adapt to social needs. By establishing medical, pension and health subsidiaries, insurance companies can not only improve their competitiveness and anti-risk ability, but also provide customers with more comprehensive and high-quality services, so as to realize the social value of the insurance industry. 
Some people support the diversified development of insurance companies, believing that this is the innovation and progress of insurance companies, and it is also the social responsibility and responsibility of insurance companies. Some people question the diversification of insurance companies, believing that it is the cross-border and expansion of insurance companies, as well as the dispersion and risk-taking of insurance companies. Here are some of the public's views and comments for reference:
Supporter: I think the insurance company's medical pension road is very meaningful, which can make the insurance company closer to the needs of customers, provide more comprehensive services, and also make customers trust the insurance company more, and increase the popularity and penetration rate of insurance. The insurance company's medical pension road is also a contribution to society, which can alleviate the pressure of aging and health, and improve the well-being and happiness of society.
Skeptic: I think the insurance company's medical pension road is very risky, which will affect the core business of the insurance company, distract the energy and resources of the insurance company, and increase the risk and cost of the insurance company. The medical pension road of insurance companies is also an interference with the market, which may cause monopoly and unfair competition in the medical and pension fields, and damage the interests and development of other industries.
The road of medical pension for insurance companies is a complex issue, involving the development of the insurance industry, social needs, market competition and other aspects. We cannot simply support or oppose, but use professional logic and argumentation to analyze the rationality and feasibility of the insurance company's medical pension road. Here are some professional logic and arguments for reference:
The insurance company's medical pension road is the independent choice of the insurance company, rather than a passive response. The medical pension road of insurance companies is based on the strategic planning and market analysis of insurance companies, in order to achieve the long-term development and sustainable development of insurance companies, to enhance the core competitiveness and brand influence of insurance companies, to meet the diversified and personalized needs of customers, and to create more social value and economic value.
The road of medical pension for insurance companies is the diversified development of insurance companies, rather than cross-border expansion. The medical pension road of insurance companies is based on the core business and superior resources of insurance companies, to extend the industrial chain and service chain of insurance companies, to achieve business synergy and efficiency improvement of insurance companies, to build the ecosystem and platform of insurance companies, and to form the differentiation and characteristics of insurance companies. 
The road of medical pension for insurance companies is the innovation and progress of insurance companies, rather than dispersion and risk-taking. The medical pension road of insurance companies is based on the risk management and asset allocation of insurance companies, in order to optimize the asset-liability structure and income structure of insurance companies, to reduce the risks and costs of insurance companies, to improve the income and liquidity of insurance companies, and to enhance the risk resistance and profitability of insurance companies. 
The road of medical pension for insurance companies is an important topic and an influential topic. The medical pension road of insurance companies is not only related to the development of insurance companies, but also related to the needs of society and market competition. The road of medical pension for insurance companies is an inevitable choice for the diversified development of insurance companies and an inevitable choice for insurance companies to adapt to social needs. The road of medical pension of insurance companies is the independent choice of insurance companies, rather than passive response, the diversified development of insurance companies, rather than cross-border expansion, and the innovation and progress of insurance companies, rather than dispersion and risk-taking.