Because the nation’s largest insurer, China Life, took the lead in October 2022 in launching a “good begin” for 2023 gross sales, main listed insurance coverage firms resembling Ping An, China Pacific and New China have began their additionally the New Yr gross sales.
Given the present decline in returns on different kinds of belongings, financial savings insurance policy have turn out to be extra enticing. The preferred merchandise offered by life insurers within the New Yr are “annuity + incremental complete life insurance coverage” plans, particularly for center and excessive web value people, in accordance with a report by Nationwide Enterprise Every day. These plans are included with medical health insurance. , growing its enchantment given the present wave of COVID infections.
An insurance coverage middleman advised the newspaper that though the federal government’s “Zero COVID” technique has affected offline gross sales of insurance coverage brokers within the quick time period, indications from early gross sales counsel that the general efficiency of listed insurance coverage firms is nice.
Among the many listed insurance coverage firms, these firms that began their New Yr gross sales actions earlier are benefiting extra as they’re much less affected by the height of the present wave of infections that has hit the nation for the reason that authorities relaxed the COVID restrictions in the beginning of the month December 2022.
A report by world skilled companies agency EY – titled “Dealing with the Alternatives within the Private Wealth Administration Market, Let’s Welcome a New Starting and Embark on a New Journey Collectively” – highlights three traits in at this time’s shopper wealth administration wants. These are:
Wealth administration wants are adaptable.
Insurers want to assist shoppers easy out fluctuations as they transfer by means of funding cycles and reap long-term advantages.
Insurers have to give attention to scorching demand areas. A present instance is the vast demand for wealth administration merchandise by senior residents.
Lately, with better market uncertainty and the deepening getting old of the inhabitants, the demand for wealth administration has turn out to be more and more “steady”, and the demand for high quality aged care has additionally elevated. People additionally present an elevated appreciation for aged care, medical and pension companies. Insurers acknowledge the market alternative and plenty of firms are selling multi-million yuan insurance coverage insurance policies masking house care companies for the aged.