Female Critical Illness Insurance Product Development

After almost20years of development, critical illness insurance in China hasdeveloped into a very important type of insurance in the health insurance market. Withthe promulgation of relevant laws and regulations, the definition of critical illness hasbeen unified. The drawing up of the table of critical illness incidence rate also reducesthe risk during the ratemaking process to some extent. Meanwhile, the relevantpolicies promulgated to support the development of health services will also jointlypromote the development of critical illness insurance. The strengthening economicstrength of women leads to increasing risk awareness, which inspires the demand ofcritical illness insurance. As many differences exist between women and men in termsof risk appetite, death rate, the incidence rate of critical illness and life expectancy,women have a greater need for critical illness insurance. The insurance productswhose design objects are based on the female health in particular have broad marketprospects, which can help insurance companies to expand into new businessarea--female market.This thesis first introduces the definition and current situations of critical illnessinsurance as well as the features of female critical illness insurance. Then, the authoranalyzes the necessity and feasibility of the design of female critical illness insurancebased on need analysis. Besides, in line with the position of S insurance company, acombination plan and contract of female critical illness insurance are designed withthe guidance of basic principles of product design and the insurance need of women atdifferent stages. In addition, a discussion of the products price is provided intheoretical terms utilizing Multi-States Markov Method. Finally, on the basis of theadvantages of S insurance company in channels as well as its disadvantages of criticalillness insurance development, the thesis proposes several marketing strategies offemale critical illness insurance from the perspective of enhancing key channels,integrating closely with government policies, bringing in health management servicesand improving the service quality of insurance claims.