On May 25, China Re Life joined hands with PICC Health and Alipay, to launch the first innovative lifelong cancer medical insurance in China – the “Alipay Hao Yi Bao Lifelong Cancer Medical Insurance”. The product’s biggest advantage is “lifelong protection”, upgrading the original guarantee of 6 years of renewal to lifetime guaranteed renewal. Meanwhile, the product offers high and wide coverage, practically solving the worries of the people. The product’s launch is inseparable from the deep participation and firm support from the reinsurance sector.
Medical problems are one of the most troublesome issues for most people. We all hear about inadequate and overly expensive medical services along with poor medical experience, difficult access to advanced therapies and the lack of long-term protection especially after people get sick. No wonder the movie Dying to Survive has caused hundreds of millions of people to fear cancer and worry that they just cannot afford to be sick. Birth, senility, sickness and death are laws of nature. When age increases, the risk and chance of getting sick will go up. It is projected that for people living to 75 years old, the cumulative incidence rate of major diseases stands at 43%-55%. However, there are not many products for the elderly on the market, and the threshold is still high, with very few options for “three-high patients” (patients with high blood cholesterol, high blood pressure, high blood sugar). The Healthcare with Lifelong Cancer Medical Insurance is an excellent example of close combination of a good product and a good platform, which has come along to meet the urgent needs of the people. The protection is guaranteed, affordable, comprehensive and lifelong, solving problems and worries of the people by offering the “most beautiful promise with full affection” to fellow consumers.
What stand behind this good product are hundreds of millions of data accumulated by China Re Life with its technical R&D strength. Based on China Re Life’s data experience and analytical technology accumulated over the years in the field of medical health insurance, and guaranteed by our level of risk identification and refined management of insurance products over the years, we have designed and set the most practical coverage according to the people’s actual needs at the best and the most inclusive product prices in helping to build this good product that stays close to people’s lives. At the same time, we provide long-term support for the long-term operation and updates of products through deep insights and refined management of products, with a view to relieving the pain points of inadequate and overly expensive medical services and solving worries for the people.
As the largest life insurance reinsurance company in Asia, China Re Life has many excellent and experienced actuaries and medical experts. The Company regards data and products as its core strategy, and relies on its powerful data source and rich data application scenarios to create a variety of products and provide customers with the protection they need. We are risk bearers and an important payer of healthcare and other health services. We provide protection when catastrophic events occur; we offer support when huge insurance policies arise; and we test water when new types of risks appear. We are the technology enablers for direct insurance companies, providing insurance companies with data, products, risk control and other services, and have successively developed different series of inclusive products such as “special drugs for tumors insurance” and “self-driving accident insurance”, providing direct insurance companies with product design and underwriting technical support. We are the promoter of infrastructure construction in the insurance industry, and actively participate in the formulation of insurance industry standards such as life tables, critical illness tables, new disability standards and new definitions of critical illnesses, contributing to the infrastructure construction for the industry. We are an important participant in insurance innovation. Through technology and model innovation, we actively promote the integration of healthcare, medicine and insurance by making use of “products + services” and “products + platforms” to create good products that meet the needs of the people and satisfy the people’s wish for good health and promising life.
Insurance brings protection to clients. Serving as the “insurance of insurance”, China Re Life will, as always, leverage its professional edges and serve the industry, develop more and better products for the people, so that the extra layer of protection to products will give the people an additional sense of security. At the same time, we must play a good role of “safety valve” and “guard force” for the insurance industry, actively connecting with national strategies and constantly making good use of our professional advantages to share burdens of the country and solve problems for the people. We pledge to work unanimously to safeguard the happiness and well-being of every family.