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The 2023-2028 Outlook for Accident and Health Insurance and Medical Service Plans Sold by Life Insurance Companies in China

August 2022 | 190 pages | ID: 2165ED4A8B28EN
ICON Group International

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This study covers the latent demand outlook for accident and health insurance and medical service plans sold by life insurance companies across the regions of China, including provinces, autonomous regions (Guangxi, Nei Mongol, Ningxia, Xinjiang, Xizang - Tibet), municipalities (Beijing, Chongqing, Shanghai, and Tianjin), special administrative regions (Hong Kong and Macau), and Taiwan (all hereafter referred to as 'regions'). Latent demand (in millions of U.S. dollars), or potential industry earnings (P.I.E.) estimates are given across some 1,100 cities in China. For each major city in question, the percent share the city is of the region and of China is reported. Each major city is defined as an area of 'economic population', as opposed to the demographic population within a legal geographic boundary. For many cities, the economic population is much larger that the population within the city limits; this is especially true for the cities of the Western regions. For the coastal regions, cities which are close to other major cities or which represent, by themselves, a high percent of the regional population, actual city-level population is closer to the economic population (e.g. in Beijing). Based on this 'economic' definition of population, comparative benchmarks allow the reader to quickly gauge a city's marketing and distribution value vis-?-vis others. This exercise is quite useful for persons setting up distribution centers or sales force strategies. Using econometric models which project fundamental economic dynamics within each region and city of influence, latent demand estimates are created for accident and health insurance and medical service plans sold by life insurance companies. This report does not discuss the specific players in the market serving the latent demand, nor specific details at the product level. The study also does not consider short-term cyclicalities that might affect realized sales. The study, therefore, is strategic in nature, taking an aggregate and long-run view, irrespective of the players or products involved.

In this report we define the sales of accident and health insurance and medical service plans sold by life insurance companies as including all commonly understood products and/or services falling within this broad category, such as personal insurance covering accidents, health, and disabilities as well as plans which provide coverage for hospitalization and other medical services which are sold by life insurance companies, irrespective of product packaging, formulation, size, or form. Companies participating in this industry include Cigna and MetLife. In addition to the sources indicated, additional information available to the public via news and/or press releases published by players in the industry was considered in defining and calibrating this category. All figures are in a common currency (U.S. dollars, millions) and are not adjusted for inflation (i.e., they are current values). Exchange rates used to convert to U.S. dollars are averages for the year in question. Future exchange rates are assumed to be constant in the future at the current level (the average of the year of this publication's release in 2022).
1 INTRODUCTION

1.1 OVERVIEW
1.2 WHAT IS LATENT DEMAND AND THE P.I.E.?
1.3 THE METHODOLOGY
  1.3.1 STEP 1. PRODUCT DEFINITION AND DATA COLLECTION
  1.3.2 STEP 2. FILTERING AND SMOOTHING
  1.3.3 STEP 3. FILLING IN MISSING VALUES
  1.3.4 STEP 4. VARYING PARAMETER, NON-LINEAR ESTIMATION
  1.3.5 STEP 5. FIXED-PARAMETER LINEAR ESTIMATION
  1.3.6 STEP 6. AGGREGATION AND BENCHMARKING
1.4 FREQUENTLY ASKED QUESTIONS (FAQ)
  1.4.1 CATEGORY DEFINITION
  1.4.2 UNITS
  1.4.3 METHODOLOGY

2 SUMMARY OF FINDINGS

2.1 LATENT DEMAND IN CHINA
2.2 TOP 100 CITIES SORTED BY RANK
2.3 LATENT DEMAND BY YEAR IN CHINA

3 ANHUI

3.1 LATENT DEMAND BY YEAR - ANHUI
3.2 CITIES SORTED BY RANK - ANHUI
3.3 CITIES SORTED ALPHABETICALLY - ANHUI

4 BEIJING

4.1 LATENT DEMAND BY YEAR - BEIJING
4.2 CITIES SORTED BY RANK - BEIJING
4.3 CITIES SORTED ALPHABETICALLY - BEIJING

5 CHONGQING

5.1 LATENT DEMAND BY YEAR - CHONGQING
5.2 CITIES SORTED BY RANK - CHONGQING
5.3 CITIES SORTED ALPHABETICALLY - CHONGQING

6 FUJIAN

6.1 LATENT DEMAND BY YEAR - FUJIAN
6.2 CITIES SORTED BY RANK - FUJIAN
6.3 CITIES SORTED ALPHABETICALLY - FUJIAN

7 GANSU

7.1 LATENT DEMAND BY YEAR - GANSU
7.2 CITIES SORTED BY RANK - GANSU
7.3 CITIES SORTED ALPHABETICALLY - GANSU

8 GUANGDONG

8.1 LATENT DEMAND BY YEAR - GUANGDONG
8.2 CITIES SORTED BY RANK - GUANGDONG
8.3 CITIES SORTED ALPHABETICALLY - GUANGDONG

9 GUANGXI

9.1 LATENT DEMAND BY YEAR - GUANGXI
9.2 CITIES SORTED BY RANK - GUANGXI
9.3 CITIES SORTED ALPHABETICALLY - GUANGXI

10 GUIZHOU

10.1 LATENT DEMAND BY YEAR - GUIZHOU
10.2 CITIES SORTED BY RANK - GUIZHOU
10.3 CITIES SORTED ALPHABETICALLY - GUIZHOU

11 HAINAN

11.1 LATENT DEMAND BY YEAR - HAINAN
11.2 CITIES SORTED BY RANK - HAINAN
11.3 CITIES SORTED ALPHABETICALLY - HAINAN

12 HEBEI

12.1 LATENT DEMAND BY YEAR - HEBEI
12.2 CITIES SORTED BY RANK - HEBEI
12.3 CITIES SORTED ALPHABETICALLY - HEBEI

13 HEILONGJIANG

13.1 LATENT DEMAND BY YEAR - HEILONGJIANG
13.2 CITIES SORTED BY RANK - HEILONGJIANG
13.3 CITIES SORTED ALPHABETICALLY - HEILONGJIANG

14 HENAN

14.1 LATENT DEMAND BY YEAR - HENAN
14.2 CITIES SORTED BY RANK - HENAN
14.3 CITIES SORTED ALPHABETICALLY - HENAN

15 HONG KONG

15.1 LATENT DEMAND BY YEAR - HONG KONG
15.2 CITIES SORTED BY RANK - HONG KONG
15.3 CITIES SORTED ALPHABETICALLY - HONG KONG

16 HUBEI

16.1 LATENT DEMAND BY YEAR - HUBEI
16.2 CITIES SORTED BY RANK - HUBEI
16.3 CITIES SORTED ALPHABETICALLY - HUBEI

17 HUNAN

17.1 LATENT DEMAND BY YEAR - HUNAN
17.2 CITIES SORTED BY RANK - HUNAN
17.3 CITIES SORTED ALPHABETICALLY - HUNAN

18 JIANGSU

18.1 LATENT DEMAND BY YEAR - JIANGSU
18.2 CITIES SORTED BY RANK - JIANGSU
18.3 CITIES SORTED ALPHABETICALLY - JIANGSU

19 JIANGXI

19.1 LATENT DEMAND BY YEAR - JIANGXI
19.2 CITIES SORTED BY RANK - JIANGXI
19.3 CITIES SORTED ALPHABETICALLY - JIANGXI

20 JILIN

20.1 LATENT DEMAND BY YEAR - JILIN
20.2 CITIES SORTED BY RANK - JILIN
20.3 CITIES SORTED ALPHABETICALLY - JILIN

21 LIAONING

21.1 LATENT DEMAND BY YEAR - LIAONING
21.2 CITIES SORTED BY RANK - LIAONING
21.3 CITIES SORTED ALPHABETICALLY - LIAONING

22 MACAU

22.1 LATENT DEMAND BY YEAR - MACAU
22.2 CITIES SORTED BY RANK - MACAU
22.3 CITIES SORTED ALPHABETICALLY - MACAU

23 NEI MONGGOL

23.1 LATENT DEMAND BY YEAR - NEI MONGGOL
23.2 CITIES SORTED BY RANK - NEI MONGGOL
23.3 CITIES SORTED ALPHABETICALLY - NEI MONGGOL

24 NINGXIA

24.1 LATENT DEMAND BY YEAR - NINGXIA
24.2 CITIES SORTED BY RANK - NINGXIA
24.3 CITIES SORTED ALPHABETICALLY - NINGXIA

25 QINGHAI

25.1 LATENT DEMAND BY YEAR - QINGHAI
25.2 CITIES SORTED BY RANK - QINGHAI
25.3 CITIES SORTED ALPHABETICALLY - QINGHAI

26 SHAANXI

26.1 LATENT DEMAND BY YEAR - SHAANXI
26.2 CITIES SORTED BY RANK - SHAANXI
26.3 CITIES SORTED ALPHABETICALLY - SHAANXI

27 SHANDONG

27.1 LATENT DEMAND BY YEAR - SHANDONG
27.2 CITIES SORTED BY RANK - SHANDONG
27.3 CITIES SORTED ALPHABETICALLY - SHANDONG

28 SHANGHAI

28.1 LATENT DEMAND BY YEAR - SHANGHAI
28.2 CITIES SORTED BY RANK - SHANGHAI
28.3 CITIES SORTED ALPHABETICALLY - SHANGHAI

29 SHANXI

29.1 LATENT DEMAND BY YEAR - SHANXI
29.2 CITIES SORTED BY RANK - SHANXI
29.3 CITIES SORTED ALPHABETICALLY - SHANXI

30 SICHUAN

30.1 LATENT DEMAND BY YEAR - SICHUAN
30.2 CITIES SORTED BY RANK - SICHUAN
30.3 CITIES SORTED ALPHABETICALLY - SICHUAN

31 TAIWAN

31.1 LATENT DEMAND BY YEAR - TAIWAN
31.2 CITIES SORTED BY RANK - TAIWAN
31.3 CITIES SORTED ALPHABETICALLY - TAIWAN

32 TIANJIN

32.1 LATENT DEMAND BY YEAR - TIANJIN
32.2 CITIES SORTED BY RANK - TIANJIN
32.3 CITIES SORTED ALPHABETICALLY - TIANJIN

33 XINJIANG UYGUR

33.1 LATENT DEMAND BY YEAR - XINJIANG UYGUR
33.2 CITIES SORTED BY RANK - XINJIANG UYGUR
33.3 CITIES SORTED ALPHABETICALLY - XINJIANG UYGUR

34 XIZANG [TIBET]

34.1 LATENT DEMAND BY YEAR - XIZANG [TIBET]
34.2 CITIES SORTED BY RANK - XIZANG [TIBET]
34.3 CITIES SORTED ALPHABETICALLY - XIZANG [TIBET]

35 YUNNAN

35.1 LATENT DEMAND BY YEAR - YUNNAN
35.2 CITIES SORTED BY RANK - YUNNAN
35.3 CITIES SORTED ALPHABETICALLY - YUNNAN

36 ZHEJIANG

36.1 LATENT DEMAND BY YEAR - ZHEJIANG
36.2 CITIES SORTED BY RANK - ZHEJIANG
36.3 CITIES SORTED ALPHABETICALLY - ZHEJIANG

37 DISCLAIMERS, WARRANTIES, AND USER AGREEMENT PROVISIONS

37.1 DISCLAIMERS & SAFE HARBOR
37.2 ICON GROUP INTERNATIONAL, INC. USER AGREEMENT PROVISIONS


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