More of younger generation get insurance

Tracy Li
Insurance policies are covering more young people in China, according to a report, as insurers launch more inclusive products and apply technology.
Tracy Li

More young people are taking out insurance policies in China, thanks to more inclusive products and insurers' pursuit of quality services using technology, according to an industry report.

Shanghai-based ZhongAn Online P&C Insurance Co said it currently had over 11 million insured customers for its Personal Clinic policies.

The mid-level health insurance, launched in 2015, offers extensive medical insurance coverage at relatively low premiums, the company said.

The average age of customers was around 35 with most from first to third-tier cities. People born in the 1980s were the largest proportion and the number of the post-2000 generation of policyholders is on the rise, ZhongAn said.

It said it recorded a total general written premium of 14.6 billion yuan (US$2.06 billion) and served 486 million customers last year, according to its recent annual report.

The company says it offers customers with accessible, easy-to-understand and affordable insurance solutions and value-added services through the application of technology.

Zhong An Online launched a policy customized for people suffering from thyroid nodules and for postoperative patients last year.

Special Reports