The School of Statistics of Renmin University of China, China Re Life, and MediTrust Health Co-releases the “Report on the Development of Health Insurance for Pre-existing Conditions”

On June 26, the “Report on the Development of Health Insurance for Pre-existing Conditions” (hereinafter referred to as the “Report”) was co-released by the School of Statistics of Renmin University of China, China-Re Life Joint Lab on Public Health and Risk Management, and MediTrust Health at a release conference held at Renmin University of China. At the conference, Zhang Xiaodong, Founder and CEO of MediTrust Health, stated that with the country’s continuous support for insurance for people with pre-existing conditions, there are increasing demands within the industry for actuarial pricing of such insurance products and for comprehensive health management of people with chronic illnesses and pre-existing conditions. Through the deep integration of commercial insurance and the biopharmaceutical industry, insurance for people with pre-existing conditions may become the core source of new business value for the insurance industry.

With the acceleration of population aging in China, the demographic structure is undergoing significant changes, leading to a rapid increase in the number of people with chronic diseases and pre-existing conditions. According to the “Sixth National Health Service Survey Special Report”, the population with chronic diseases in China has exceeded 400 million, suggesting the growing urgency for insurance to provide coverage for people with pre-existing conditions. Against this backdrop, how to leverage the key role of the insurance industry as an economic stabilizer and social stabilizer to provide comprehensive and continuous health services to the public has become a focus of attention both within and outside the industry.

The Report, guided by social security needs and national strategies, deeply explores the application of insurance services for people with pre-existing conditions and aims to promote the optimization and improvement of the national health security system while driving innovation in the pharmaceutical industry. The report systematically outlines the development trends of insurance for people with pre-existing conditions and offers forward-looking and targeted development suggestions based on China’s specific situation. This report not only provides valuable references for the industry but also demonstrates the core concept of finance serving the people, marking a new chapter in financial services for society and the public. The release conference was attended by Wang Yi, Vice President of Renmin University of China, Zhang Xiaodong, Founder and CEO of MediTrust Health, and Gong Qiao, Senior Vice President and Chief Product Officer of MediTrust Health, among other distinguished guests.

In his speech, Wang Yi, Vice President of Renmin University of China, emphasized that the release of the Report is a successful example of university-industry cooperation and one of Renmin University’s landmark achievements in the research of “Healthy China”. He expressed hope that the publication of this report will contribute to the further improvement and implementation of policies related to insurance for people with pre-existing conditions, providing better protection and services for this group and contributing more wisdom and strength to advancing the “Healthy China” initiative and realizing the goal of healthy aging.

It’s believed by Gong Qiao, Senior Vice President and Chief Product Officer of MediTrust Health, that insurance for people with pre-existing conditions, as an important direction that the development of health insurance goes in, faces numerous challenges, including insufficient disease risk awareness, lagging technological progress, lack of underwriting experience, inadequate service infrastructure, and high professional standards required of agents. MediTrust Health is actively responding by empowering the development of such insurance through a series of measures. With rich experience and claims data accumulation, they utilize artificial intelligence and data visualization technologies to optimize disease information extraction, collaborating with medical experts to promote the application of intelligent decision-making in the complex underwriting of pre-existing conditions, thus aiding in the innovation of insurance products. At the same time, MediTrust Health integrates pharmaceutical industry resources to provide comprehensive services to insurance companies, building disease management systems to ensure patients receive full-process professional medical services. Moreover, MediTrust Health collaborates with global innovative pharmaceuticals, medical devices, and pharmaceutical companies to empower the industry, enabling patients with pre-existing conditions to enjoy more comprehensive coverage and real benefits. Finally, MediTrust Health also optimizes the marketing and solutions for insurance for people with pre-existing conditions, providing support for agents' sales. Gong Qiao stated: “MediTrust Health is committed to integrating insurance with various industries and is determined to promote the development of insurance for people with pre-existing conditions.”

The Report Summarizes Five Key Laws of the Development of Insurance for Pre-existing Conditions in a Systematic Manner

✦ Different types of insurance for people with pre-existing conditions have differentiated development patterns and logic. A full understanding of their connotations is an important premise for business operations. Under a broader understanding, long-term medical insurance with adjustable premiums is also considered insurance for people with pre-existing conditions.
✦ Different forms of coverage in insurance for people with pre-existing conditions have differences in underwriting principles and mechanisms. Products can be divided into those that only cover people with pre-existing conditions and those that include both healthy individuals and those with pre-existing conditions.
✦ The form of coverage in insurance for people with pre-existing conditions determines the corresponding risk characteristics and business models. Based on the financing method, it can be summarized into two modes: “self-financing” and “mutual assistance”.
✦ Insurance for people with pre-existing conditions is an important means of rapidly aggregating traffic in the pharmaceutical industry. Industry integration is an important concept for innovative profit models.
✦ Systematic regulatory policies and strong, efficient financing mechanisms are crucial supports for the development of insurance for people with pre-existing conditions.