PING AN OF CHINA(SH:601318) 21世纪经济报道·2025-02-26 12:41Core Viewpoint - The article discusses the need for a comprehensive property safety risk prevention system in Shenzhen, emphasizing the importance of a "insurance + maintenance fund" mechanism to address aging buildings and potential risks associated with them [2][3]. Group 1: Property Safety and Insurance - Shenzhen's first batch of commercial housing has entered the "middle housing era," with risks from aging facilities and pipelines becoming increasingly unavoidable [3]. - The proposal includes establishing a regular property inspection system, leveraging insurance to reduce risks, and involving third-party professionals for safety monitoring [5][9]. - The article highlights the rising public interest in property insurance, particularly in the context of significant financial losses that can occur from major incidents in densely populated urban areas [6][7]. Group 2: Market Trends and Growth - The home insurance market in China has seen a continuous increase in policy uptake, with a reported growth rate of 67.22% in 2022, reaching a premium scale of 16.4 billion yuan [12][14]. - Despite this growth, the market share of home insurance remains low, typically around 2%-3% of the overall property insurance market, compared to 15.3% in the U.S. [12][13]. - The article notes that the rapid growth of home insurance is linked to the push for non-auto insurance products and the introduction of city-customized inclusive home insurance [14][15]. Group 3: Government Role and Recommendations - The article suggests that the government should establish a systematic and mandatory policy framework to support and regulate the development of home insurance, addressing the low penetration rates [12]. - Recommendations include creating a mixed model of mandatory and commercial insurance, with government support and incentives for homeowners to participate [9][10]. - The introduction of inclusive home insurance products, backed by government initiatives, aims to enhance public trust and increase market acceptance [16].