Analysis of Accident Insurance for Middle-aged and Older Adults in China Through Case Comparison

Authors

  • Qing Lin Luk

DOI:

https://doi.org/10.54097/ydz6cs04

Keywords:

Accidental Insurance; middle-aged and older adults; case comparison; insurance Industry; pricing.

Abstract

Accident protection for middle-aged and older adults is an important topic that people focus on, and accident insurance for middle-aged and older adults has gradually aroused people's interest. In the United States, Japan, and many countries, due to their maturity in the insurance industry, the insurance portfolio and process of accident insurance has become complete. However, in mainland China, accident insurance for middle-aged and older adults is still a relatively unpopular field, and most insurance companies have not invested in this area. This article lists three middle-aged and older adults accident insurance products from three different insurance companies to analyze the advantages and disadvantages of these products from the perspective of consumers through comparative analysis, put forward the possible reasons for the lack of investment in accident insurance for middle-aged and older adults in the mainland of China. The article finds that Chinese mainland insurance companies in the field of accident insurance for middle-aged and older adults have certain gaps due to factors such as excessive risk, immature development of the insurance industry, and lack of detailed division of risk situations. In addition, this article tries to put forward strategies to improve accident insurance for middle-aged and older adults. The purpose of this topic is to hope that domestic insurance companies and policyholders can pay more attention to the field of accident protection for middle-aged and older adults, carry out rational improvements, and enhance insurance services for consumers while improving the profits of insurance companies to achieve a win-win situation.

Downloads

Download data is not yet available.

References

Liu HL. Trends of population aging in China and the world as a whole. Scientific Research on Aging, 2021, 9(12): 1-16.

Wu LT, Li DB. Trends in disease burden changes and mortality projections due to premature death from injury in Beibei district, Chongqing, 2016-2020. Journal of Occupational Health and Damage, 2022, 37(3): 166-172.

Li CY. Survey Report on Domestic and Foreign Insurance Product Awareness and Purchase Experience. Times Finance, 2018, 26.

Xu ZQ. Compilation process and interpretation of the results of Table of the Incidence of Accidental Injury Experience in China's Insurance Industry. Insurance Theory and Practice, 2022, (05): 17-33.

Basic product information of CHINA TAIPING, 8/14/2023, 09/19/2023, http://life.cntaiping.com/info-bxcp/.

Pingan Comprehensive Accident Insurance for Middle-aged and Older Adults, 08/19/2023, 09/19/2023, https://health.pingan.com/P/C/PAH/lnyw_JTGW.

Zhao YY, Liao ZX, Tan XM, et al. Analysis of injury and mortality among elderly people in China from 2009 to 2020. Modern Preventive Medicine, 2023, 50(06): 987-992.

Zhang YB. Comparison and enlightenment of investment of domestic and foreign insurance companies. China International Finance (Chinese and English),

Zhuang JF, Hu F. Comparative analysis of life insurance products in Hong Kong and Mainland China. Modern Marketing (Business Edition), 2018, (08): 64.

David M. A review of theoretical concepts and empirical literature of non-life insurance pricing. Procedia Economics and Finance, 2015, 20: 157-162.

Downloads

Published

29-03-2024

How to Cite

Luk, Q. L. (2024). Analysis of Accident Insurance for Middle-aged and Older Adults in China Through Case Comparison. Highlights in Science, Engineering and Technology, 88, 760-768. https://doi.org/10.54097/ydz6cs04