Published on : Jul 21, 2017
Albany, New York, July 21, 2017: A new study, titled “Personal Accident and Health Insurance in China, Key Trends and Opportunities to 2020” has been recently publicized to the wide repository of Market Research Hub (MRH). It offers a detailed analysis of the key categories in the Chinese personal accident and health insurance segment, and market forecasts to 2020. With a prime focus China, the study gives a detailed overview of the economy and demographics; and presents detailed information on the country’s competitive landscape. The readers will gain insights into key regulations currently governing the Chinese insurance industry and their impact on companies and the industry's future outlook.
The research starts by presenting an executive summary along with segment outlook. Market outlook by category (health insurance and personal accident) includes premium, claims, profitability has been detailed further. As the name suggests, Personal Accident Car Insurance provides customers protection against the risk of death and disablement that can be caused by accidents and it is applicable anywhere in the world. This policy covers a number of eventualities, including train and road accidents, plane crashes, murder or even a slip in the bathroom. It has been analyzed that, in-patient coverage is the most basic and core component of any health care plan, and everyone should have it regardless of age, fitness and health history.
As per the key highlights of the study, in January 2017, the Chinese government issued a medical reform plan for the period 2016–2020, as a part of the 13th Five-Year Plan, with emphasis on insurance reforms and improvements. Also, at the end of 2016, China overtook Japan to become the world’s second-largest insurance market, after the US.
Further, the various distribution channels in the Chinese personal accident and health insurance segment. Moreover, it provides detailed analysis of the market trends, drivers, challenges in the market. the study focuses on the state developments and finds that the Chinese state council issued a circular in October 2016, promulgating a series of regulations regarding critical illness insurance to cover more urban and rural residents.
In the later part, the study profiles the top personal accident and health insurance companies in China and outlines the key regulations that are affecting them. Companies profiled in this study are China Life Insurance Co. Ltd., China, New China Life Insurance Co., Ltd., Ping An Life Insurance Company of China, Ltd., PICC Health, CPIC Life (China Pacific Insurance (Group) Co., Ltd), Taikang Life Insurance Co., Ltd., PICC Life Insurance Company Ltd., Taping Life Insurance Co., Ltd., Hexie Health Insurance Co., Ltd., and Ping An Annuity Insurance. With the vital information present in the report, it acts as essential tools for the companies active across the China personal accident and health insurance value chain; and for the new players considering to enter in this market.
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