Nan Fang Du Shi Bao·2025-07-16 06:10Core Insights - The insurance industry is experiencing a significant increase in claim payouts, driven by rising demand for critical illness and medical insurance, with a total payout exceeding 70 billion yuan in the first half of 2025 [3][4][5] - Technological advancements are enhancing efficiency in claims processing, with companies implementing digital solutions to streamline services [6][7] - There is a growing emphasis on improving service quality and accessibility, particularly for underserved populations, reflecting a shift towards more inclusive insurance offerings [7][8] Claims Overview - Ten major insurance companies reported a total claim amount exceeding 70 billion yuan for the first half of 2025, with China Life leading at 30.2 billion yuan and over 12.14 million claims [3][4] - Other notable companies include Ping An Life with 20.62 billion yuan in claims and Taikang Life with 9.92 billion yuan [4][5] Growth in Claims and Efficiency - The insurance sector's claim expenditures have shown consistent growth, with a reported 9.91% year-on-year increase in the first five months of 2025 [5][6] - Companies like Zhongyou Insurance and ICBC-AXA Life have reported significant increases in claims, with Zhongyou's claims rising over 50% year-on-year [6] Service Quality and Inclusivity - Insurance companies are enhancing their service offerings to better reach vulnerable groups, with China Life serving over 2.24 million rural residents and providing significant payouts to disabled and elderly clients [7][8] - The introduction of services like "one-day critical illness claims" by China Life aims to expedite the claims process, reflecting a commitment to improving customer experience [7] Focus on Critical Illness and Medical Insurance - The reports indicate a high demand for critical illness insurance, with significant payout amounts despite lower claim frequencies compared to medical insurance [9][10] - The average treatment costs for critical illnesses far exceed current payout levels, highlighting a gap in coverage that needs to be addressed [10][11] Regulatory Developments - Recent policy changes from the National Financial Regulatory Administration and the People's Bank of China aim to enhance the quality and accessibility of inclusive insurance products over the next five years [8][11] - The synchronization of basic medical insurance and commercial health insurance directories is expected to improve coverage for high-cost medications, addressing affordability issues in critical illness treatment [10][11]