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On August 6, Dehua AnGu Life Insurance, together with Mingya Insurance Brokerage, Wutongshu Insurance Brokerage, Datong Insurance Service and Molecular Laboratory, held a joint conference in Jinan titled "AnGu Companion, Guardian Always There" to explore the development of disability insurance and launch the new product "Guardian" disability income loss insurance. At the conference, the innovative product "Guardian" disability income loss insurance exclusively customized by Dehua AnGu Life Insurance and its joint channels was officially launched. At the same time, the guests also had a wonderful roundtable discussion on the current situation of the disabled population and the empowerment of insurance products under the dual challenges of an aging population and younger chronic diseases.

The dual challenges of the “silver wave” and the younger age of chronic diseases have led to insufficient supply of disability loss insurance in the market

According to the "China Aging Industry Development Report" released by the my country Aging Science Research Center, by the end of 2022, the number of people over 60 years old in my country will reach 280 million. Among them, there are about 44 million disabled and semi-disabled elderly people. Due to the huge population size of my country, as the aging process accelerates, the above data will continue to rise sharply. At the same time, "one person's disability, the whole family is unbalanced", disability is not only common in the elderly group, but also in the middle-aged and young people in the backbone of society due to accidents or diseases. Statistics from the National Health Commission show that the current situation of chronic disease prevention and control in my country is complicated, and chronic diseases are showing a trend of younger age. Affected by unhealthy lifestyles and high-intensity mental stress, the disability risks faced by young and middle-aged people cannot be ignored. In particular, the new middle class itself faces unemployment risks, children's education, housing and other pressures, and physical health problems are also magnified year by year. If they are disabled due to chronic diseases and bad living habits, they will directly face the risk of returning to poverty.

Mr. Li Huadong, a well-known expert, professor, doctor of medicine, doctoral supervisor, and chief physician of Shandong Provincial Hospital of Traditional Chinese Medicine, introduced at the press conference that neurological diseases such as stroke, Alzheimer's disease, Parkinson's disease, etc. have become the main disease burden affecting the health of Chinese residents due to their high incidence and high disability rate. Behind many patients, especially disabled patients, there is an already overwhelmed family, which not only brings great pain to the patients physically and mentally, but also brings a heavy economic burden to the entire family.

According to the "2023 Commercial Health Insurance Business Data Analysis Report" of the China Insurance Association, the scale of disability income loss insurance in the health insurance market is very limited, and the total premium accounts for only 0.04%. Among the 19,507 health insurance products registered on the website of the China Insurance Association, there are only 109 disability income loss insurance products, 36 of which are on sale, and only 13 long-term disability insurance products. Faced with the continuous increase in the market demand for disability insurance among the disabled groups, the development of disability income loss insurance in my country is still in its early stages and has not yet fully played its due protection role.

"Guardian" innovation is launched, with a maximum monthly compensation of 25,000 yuan, which can be received up to the age of 80

How can disabled people have income after illness and enjoy dignity and respect during rehabilitation? In response to the urgent needs of middle-aged and elderly people with potential disabilities and the expanding disability insurance gap, Dehua ERGO Life Insurance, with the help of its German shareholder ERGO Group's rich experience in health insurance management, has focused on the disability insurance segment and jointly launched the "Guardian" disability income loss insurance product with the channels.

"Guardian" can be used not only as compensation for work disability income, but also as compensation for life disability after retirement. The insurance liability of this product returns to its original nature. Before the age of 60, a monthly disability allowance is paid according to the basic insurance amount as compensation for the loss of being unable to work after disability. After the age of 60, the monthly disability allowance is reduced to 30% of the basic insurance amount, focusing on disability rehabilitation compensation after retirement. While highlighting the cost-effectiveness, the maximum insurable disability allowance will be matched with the wage level of Chinese families as much as possible, and health management services for disability rehabilitation will be provided. The insured age of "Guardian" is 19 to 60 years old, and the insurance period can be selected up to 60, 70 or 80 years old. Customers with nodules and polyps also have the opportunity to be insured. It protects 25 common diseases in the elderly, such as severe Alzheimer's disease, severe primary Parkinson's disease, severe sequelae of cerebral stroke, or 1 to 3 levels of disability caused by accidents. The maximum monthly income compensation is 25,000 yuan. There is no need for annual disability assessment in the first five years after disability. After five years, assessment should be conducted every three years. The disability allowance can be received up to the end of the insurance period.

It is worth noting that the product has a "premium exemption" clause. Once the diagnosis is confirmed to be in compliance with the liability, no further premiums need to be paid, which minimizes the harm caused by disability to the family. In addition, the product also provides five major disability rehabilitation services: brain cognitive rehabilitation, life rehabilitation, psychological rehabilitation, financial rehabilitation, and home rehabilitation, as well as all-round health management with green channels for hospitalization and surgery, daily online consultations with famous doctors, and chronic disease management.

Focus on the protection expectations of disabled groups and jointly create guardians of people's livelihood and welfare

With the public's demand for more refined insurance protection, how to better play the social value of commercial health insurance, explore ways of joint development and co-construction by multiple parties, innovate and expand the sustainable and balanced development of commercial health insurance, and better protect people's livelihood and well-being are issues of common concern. In the roundtable dialogue hosted by Liu Yang, founder of Molecular Laboratory, the guests had a wonderful discussion.

Yin Xiaosong, director and general manager of Dehua AnGu Life Insurance, said that around the concept of "insurance returns to its original purpose of protection", Dehua AnGu Life Insurance is helping to actively respond to the national strategy of population aging, doing a good job in pension finance, and deepening the silver insurance market. At the same time, it is also actively innovating and expanding products and services in the health insurance segment. In the first half of 2024, the company took the lead in innovating and developing the "Worry-free Guardian" disability income loss insurance product on the Internet channel, which was well received by the market. Since its launch on February 28, 2024, it has provided insurance protection for more than 22,000 customers. In order to better meet the protection needs of the disabled group, in August, the company jointly customized and innovated the development of the intermediary channel "Guardian" disability income loss insurance product (Internet), aiming to fill the market gap and enrich product supply, deepen the disability insurance market segment, and actively explore the construction of a commercial health protection service matrix for the middle-aged and elderly population in a joint and co-construction manner, protect the backbone of society, and continue to innovate a warmer insurance "guardian".

Yang Chen, president of Mingya Insurance Brokerage, said that with the changes in the social environment and the insurance consumer population, it is difficult for insurance products on the market to meet the diverse needs of consumers. Consumers hope that companies can deeply understand their needs and provide a variety of product options. my country currently has a large protection gap, and the protection level of both health insurance and life insurance is far from enough. The future innovation direction of personal insurance should break through the convergence of product categories and responsibilities, and focus more on multi-scenario applications, segmented populations, and segmented responsibilities. For example, consumers can cover the corresponding medical expenses by purchasing medical insurance, and now use disability insurance to compensate for related income losses. This is a good match to make products that consumers really want and need.

Wang Ge, senior vice president of Datong Insurance Services, believes that a big change is happening in the current insurance market. It must shift from the original sales end dominated by insurance companies to the satisfaction end dominated by customer needs, and must face up to customer needs. From the customer demand side, disability insurance is an innovative product with "small incision and big demand". The disability demand market is huge. For example, in our neighboring country Japan, disability care and social insurance are given equal importance and operate independently. Therefore, product innovation should be more agile and keep up with trends, rather than staying in laboratory demonstration. Today's disability income loss insurance is a good attempt. Health management + insurance promotes the transformation of income compensation to comprehensive management and becomes a safety net mechanism.

Guo Qing, executive director and CEO of Wutongshu Insurance Brokerage, said that among our existing users, there are a large number of people with chronic diseases, and many of their insurance needs cannot be met, especially when selling critical illness insurance. We have tried to develop more convenient customized products, but in the end, we were unable to provide protection for our customers due to factors such as the lack of openness in the underwriting standards. At the same time, in the current economic downturn, critical illness insurance also places a heavy financial burden on customers. Therefore, from the perspective of product supply-side innovation, it is necessary to split between different groups of people, segment different customer needs, and make some "small and beautiful" products. The public's understanding of many diseases and post-care is not comprehensive. Once a customer becomes disabled, he will not be able to bear the huge financial support in the later stage; from the perspective of strengthening the prevention of disability in the later stage, the professional strength of insurance can be brought into play in product innovation, technological application innovation, and service innovation.

Liu Yang, founder of Molecular Laboratory, concluded that there are many consensuses in today's dialogue, and everyone's goals are becoming clearer and clearer. He hopes to take this opportunity of launching new disability loss insurance products to enable the entire insurance company, channel partners and technology companies to explore more valuable cooperation and jointly promote the innovation and development of this industry. Health is the cornerstone of happiness, insurance is the guardian of health, and the popularization of health insurance is a need for social development and everyone's right. I hope that Dehua AnGu will establish a unique brand in the entire field of disability protection in the future and form a long-term social effect. With everyone's joint efforts, we can better play the social value of commercial health insurance and better protect people's livelihood and well-being.

At the meeting, Xiao Ping, assistant general manager, chief information officer and chief operating officer of Dehua AnGu Life Insurance, also delivered a keynote speech, in-depth on the strategy of "exploring the refined supply of health insurance to provide disabled people with 'help for the weak'".

Looking into the future, Dehua AnGu Life Insurance will take this event as an opportunity to work with channels to actively implement the mission of "insurance for the people", adhere to the "customer-centric" service principle, further integrate respective resources, deepen cooperation, and strive to innovate insurance products and services, to create more intimate and warmer insurance solutions to meet customers' growing diversified protection needs, give full play to the economic "shock absorber" and social "stabilizer" functions of insurance, and jointly write a new chapter in insurance services.