Trends and Opportunities in the
Chinese Personal Accident and
Health Insurance Industry to
2016: Market Profile
Market Profile
Reference code: IN1016MP
Published: October 2012
www.timetric.com
Timetric
John Carpenter House
7 Carmelite Street
London EC4Y 0BS
United Kingdom
Tel: +44 (0)20 7936 6400
Fax: +44 (0)20 7336 6813
www.timetric.com
TABLE OF CONTENTS
TABLE OF CONTENTS
1 Introduction ..................................................................................................................... 7
1.1 What is this Report About? ........................................................................................................ 7
1.2 Definitions ................................................................................................................................. 7
1.3 Methodology ........................................................................................................................... 10
2 Chinese Insurance Industry Attractiveness ................................................................ 12
2.1 Insurance Industry Market Size, 2007–2016 ........................................................................... 14
2.2 Key Industry Trends and Drivers ............................................................................................. 18
2.2.1 Business drivers ............................................................................................................................... 18
2.2.2 Consumer drivers ............................................................................................................................. 18
2.3 Recent Market Developments ................................................................................................. 20
3 Personal Accident and Health Insurance Segment Outlook ..................................... 21
3.1 Personal Accident and Health Insurance Growth Prospects by Category ................................ 23
3.1.1 Personal accident category .............................................................................................................. 54
3.1.2 Travel insurance category ................................................................................................................ 60
3.1.3 Health insurance category ................................................................................................................ 66
4 Analysis by Distribution Channels .............................................................................. 72
4.1 Direct Marketing Channel ........................................................................................................ 74
4.2 Bancassurance Channel ......................................................................................................... 82
4.3 Agencies Channel ................................................................................................................... 90
4.4 E-Commerce Channel ............................................................................................................. 98
4.5 Brokers Channel ................................................................................................................... 106
4.6 Other Channels ..................................................................................................................... 114
5 Appendix ...................................................................................................................... 122
5.1 Methodology ......................................................................................................................... 122
5.2 Contact Us ............................................................................................................................ 122
5.3 About Timetric ....................................................................................................................... 122
5.4 Disclaimer ............................................................................................................................. 123
Trends and Opportunities in the Chinese Personal Accident and Health Insurance Industry to
Page 2
2016: Market Profile
© Timetric. This product is licensed and is not to be photocopied Published: October 2012
TABLE OF CONTENTS
LIST OF FIGURES
Figure 1: Chinese Insurance Overall Written Premium by Segment (RMB Billion), 2007–2016 .................................................................... 16
Figure 2: Chinese Insurance Market Dynamics by Segment, 2007–2016 .................................................................................................... 17
Figure 3: Chinese Personal Accident and Health Insurance Written Premium by Category (RMB Billion), 2007–2016................................. 25
Figure 4: Chinese Personal Accident and Health Insurance Written Premium by Category (% Share), 2011 and 2016 .............................. 25
Figure 5: Chinese Personal Accident and Health Insurance Market Dynamics by Category, 2007–2016 ..................................................... 26
Figure 6: Chinese Personal Accident and Health Insurance – Earned Premium (RMB Billion), 2007–2011 ................................................. 27
Figure 7: Chinese Personal Accident and Health Insurance – Earned Premium (RMB Billion), 2011–2016 ................................................. 28
Figure 8: Chinese Personal Accident and Health Insurance – Paid Claims by Category (RMB Billion), 2007–2016 ..................................... 31
Figure 9: Chinese Personal Accident and Health Insurance – Incurred Loss by Category (RMB Billion), 2007–2016 .................................. 34
Figure 10: Chinese Personal Accident and Health Insurance – Loss Ratio (%), 2007–2011 ........................................................................ 35
Figure 11: Chinese Personal Accident and Health Insurance – Loss Ratio (%), 2011–2016 ........................................................................ 36
Figure 12: Chinese Personal Accident and Health Insurance – Commission and Expenses (RMB Billion), 2007–2011 ............................... 37
Figure 13: Chinese Personal Accident and Health Insurance – Commission and Expenses (RMB Billion), 2011–2016 ............................... 38
Figure 14: Chinese Personal Accident and Health Insurance – Combined Ratio (%), 2007–2011................................................................ 39
Figure 15: Chinese Personal Accident and Health Insurance – Combined Ratio (%), 2011–2016................................................................ 40
Figure 16: Chinese Personal Accident and Health Insurance – Frauds and Crimes (RMB Billion), 2007–2011 ............................................ 41
Figure 17: Chinese Personal Accident and Health Insurance – Frauds and Crimes (RMB Billion), 2011–2016 ............................................ 42
Figure 18: Chinese Personal Accident and Health Insurance – Total Assets (RMB Billion), 2007–2011 ...................................................... 43
Figure 19: Chinese Personal Accident and Health Insurance – Total Assets (RMB Billion), 2011–2016 ...................................................... 44
Figure 20: Chinese Personal Accident and Health Insurance – Total Investment Income (RMB Billion), 2007–2011 ................................... 45
Figure 21: Chinese Personal Accident and Health Insurance – Total Investment Income (RMB Billion), 2011–2016 ................................... 46
Figure 22: Chinese Personal Accident and Health Insurance – Retentions (RMB Billion), 2007–2011 ......................................................... 47
Figure 23: Chinese Personal Accident and Health Insurance – Retentions (RMB Billion), 2011–2016 ......................................................... 48
Figure 24: Chinese Personal Accident and Health Insurance – Investment Portfolio (RMB Billion), 2007–2011........................................... 49
Figure 25: Chinese Personal Accident and Health Insurance – Investment Portfolio (% Share), 2007 and 2011 ......................................... 49
Figure 26: Chinese Personal Accident and Health Insurance Penetration (% of GDP), 2007–2011 ............................................................. 50
Figure 27: Chinese Personal Accident and Health Insurance – Number of Policies Sold (Thousand), 2007–2011 ....................................... 51
Figure 28: Chinese Personal Accident and Health Insurance – Number of Policies Sold (Thousand), 2011–2016 ....................................... 52
Figure 29: Chinese Personal Accident and Health Insurance – Premium Per Capita (RMB), 2007–2011 .................................................... 53
Figure 30: Chinese Personal Accident Insurance Category – Number of Policies Sold (Thousand), 2007–2011.......................................... 54
Figure 31: Chinese Personal Accident Insurance Category – Number of Policies Sold (Thousand), 2011–2016.......................................... 55
Figure 32: Chinese Personal Accident Insurance Category – Written Premium (RMB Billion), 2007–2011 .................................................. 56
Figure 33: Chinese Personal Accident Insurance Category – Written Premium (RMB Billion), 2011–2016 .................................................. 57
Figure 34: Chinese Personal Accident Insurance Category – Loss Ratio (%), 2007–2011 ........................................................................... 58
Figure 35: Chinese Personal Accident Insurance Category – Loss Ratio (%), 2011–2016 ........................................................................... 59
Figure 36: Chinese Travel Insurance Category – Number of Policies Sold (Thousand), 2007–2011 ............................................................ 60
Figure 37: Chinese Travel Insurance Category – Number of Policies Sold (Thousand), 2011–2016 ............................................................ 61
Figure 38: Chinese Travel Insurance Category – Written Premium (RMB Billion), 2007–2011 ..................................................................... 62
Figure 39: Chinese Travel Insurance Category – Written Premium (RMB Billion), 2011–2016 ..................................................................... 63
Figure 40: Chinese Travel Insurance Category – Loss Ratio (%), 2007–2011 ............................................................................................. 64
Figure 41: Chinese Travel Insurance Category – Loss Ratio (%), 2011–2016 ............................................................................................. 65
Figure 42: Chinese Health Insurance Category – Number of Policies Sold (Thousand), 2007–2011............................................................ 66
Figure 43: Chinese Health Insurance Category – Number of Policies Sold (Thousand), 2011–2016............................................................ 67
Figure 44: Chinese Health Insurance Category – Written Premium (RMB Billion), 2007–2011 .................................................................... 68
Figure 45: Chinese Health Insurance Category – Written Premium (RMB Billion), 2011–2016 .................................................................... 69
Figure 46: Chinese Health Insurance Category – Loss Ratio (%), 2007–2011 ............................................................................................. 70
Figure 47: Chinese Health Insurance Category – Loss Ratio (%), 2011–2016 ............................................................................................. 71
Figure 48: Chinese Personal Accident and Health Insurance Written Premium by Distribution Channel (% Share), 2011 and 2016 ............ 73
Figure 49: Chinese Personal Accident and Health Insurance – Direct Marketing Commission Paid (RMB Billion), 2007–2011 .................... 74
Figure 50: Chinese Personal Accident and Health Insurance – Direct Marketing Commission Paid (RMB Billion), 2011–2016 .................... 75
Figure 51: Chinese Personal Accident and Health Insurance – Written Premium Through Direct Marketing (RMB Billion), 2007–2011 ....... 76
Figure 52: Chinese Personal Accident and Health Insurance – Written Premium Through Direct Marketing (RMB Billion), 2011–2016 ....... 77
Figure 53: Chinese Personal Accident and Health Insurance – Policies Sold Through Direct Marketing (Thousand), 2007–2011 ............... 78
Figure 54: Chinese Personal Accident and Health Insurance – Policies Sold Through Direct Marketing (Thousand), 2011–2016 ............... 79
Figure 55: Chinese Personal Accident and Health Insurance – Number of Direct Marketing Distributors, 2007–2011 ................................. 80
Figure 56: Chinese Personal Accident and Health Insurance – Number of Direct Marketing Distributors, 2011–2016 ................................. 81
Figure 57: Chinese Personal Accident and Health Insurance – Bancassurance Commission Paid (RMB Billion), 2007–2011 ..................... 82
Figure 58: Chinese Personal Accident and Health Insurance – Bancassurance Commission Paid (RMB Billion), 2011–2016 ..................... 83
Figure 59: Chinese Personal Accident and Health Insurance –