BCG report analysis: the commercial health insurance market will grow nearly 4 times by 2020

On August 24th, the Boston Consulting Group (BCG) and Munich Reinsurance jointly released a report. The report predicts that by 2020, the size of China's commercial medical insurance market will nearly quadrupling, from 241 billion yuan in 2015 to 1.1 trillion yuan, and reimbursement medical insurance will surpass major disease insurance and become a Chinese business. The fastest growing category in the health care market.

The commercial medical insurance market has grown rapidly in recent years, with an average annual growth rate of 36% since 2010. The market size to 2015 has reached 241 billion yuan. However, major disease insurance has always been dominant in the market. Such insurance is usually an add-on product of life insurance, and the number of protected diseases and covered people are relatively limited. And the reimbursement-type medical insurance like social security is still relatively small in the commercial insurance market. The profitability of the life insurance market is far better than the health insurance market.

In China, most of the reimbursement-type medical insurance participants are insured in the form of group insurance through their work units. The future reimbursement group market is likely to continue to grow, and the growing group insurance business will come more from local companies and small and medium-sized enterprises.

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