Insurance customers needs are shifting from passive post-incident claims to pre-medical services and active health management, according to Ping An Insurance (Group) Company of China.
The Group highlighted this trend in its 2022 Annual Insurance Claims Report which showed that it paid out on more than 200m cases, an average of about 600,000 cases per day. Claims payments last year exceeded CNY280bn ($40.3bn), equivalent to CNY770m per day.
A breakdown of the claims paid by Ping An’s four insurance companies in 2022 shows:
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Company
Number of cases paid
Claims paid (CNYbn)
Ping An Life
4.1m
79.6
Ping An P&C
190.0m
194.0
Ping An Annuity
15.99m
13.2
Ping An Health
2.45m
4.8
Source: Ping An Insurance (Group) Company of China
Other key trends identified in the claims report from an analysis of claims data, include:
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The three most serious critical illnesses in 2022 were malignant tumours, acute myocardial infarction, and conditions resulting from stroke.
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As the population ages, claims services need digital upgrading to provide elderly-friendly services. Technology and artificial intelligence will drive the transformation of all claims services, making customer experiences simpler, more convenient, and efficient.
