Authorities ink deal to boost health insurance

The Shanghai Insurance Exchange signed an agreement with the Shanghai Commission of Health and Family Planning Tuesday in a bid to build a new comprehensive system for health insurance and promote the integrated development of the insurance industry and health service sectors.

The move came as part of Shanghai’s ongoing efforts to build itself into a first-class global financial center and the speeding up of the implementation of the comprehensive “Healthy Shanghai 2030” plan, which covers everything from preventative measures to full health care.

The two parties said they aim to create a health insurance system which will reduce policy holders’ insurance costs, expand insurance coverage and optimize underwriting and claims settlement.

The Shanghai Insurance Exchange said it will actively participate in the city’s medical reform, explore ways to control insurance expenses and help to inject vitality into reform.

The Shanghai Health and Family Planning Commission pledged to promote the establishment of an insurance-plus-health service model. The authority said that it will also support innovations in commercial health insurance and boost the incubation of diversified health insurance products.