Ten years, 300 million people reached: An experimental journey of an internet-based property insurance company
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Over the past decade, China’s insurance industry has undergone a profound transformation from “extensive expansion” to “intensive cultivation,” with technology becoming a key variable in reshaping the industry landscape.
Internet insurance companies are the most direct witnesses of this technological wave.
On November 18, Taikang Online celebrated its 10th anniversary. From its birth in 2015, relying on the Taikang Insurance Group's big health ecosystem, to achieving profitability in 2021, Taikang Online's development path reflects the industry's exploration and practice of digital transformation.
As of 2024, Taikang Online’s revenue has reached 11.884 billion yuan, a year-on-year increase of 24.38%, outpacing the industry’s overall growth rate; at the same time, its net profit attributable to shareholders has been positive for four consecutive years, demonstrating sustained profitability.
According to information from Taikang Online, the company’s number of customers has exceeded 300 million, with total claims paid reaching 30.5 billion yuan.
Behind the financial data and customer scale, the real challenge lies in how to convert scale advantages into deeper user value and more sustainable growth momentum. This means insurance companies cannot stop at traditional risk compensation, but must simultaneously enhance both the breadth and depth of their services.
In 2023, Taikang Online proposed a strategic shift from “insuring healthy people” to “insuring people’s health,” attempting to extend insurance coverage to all groups and the entire health management process.
On the product side, the company has built a layered protection system: among them, the “Weiyi Insurance · Million Medical Insurance” aimed at public health has been iterated 16 times and has become a typical representative of inclusive medical insurance; for high-end needs, they launched high-end medical policies offering nationwide medical search and global medication search services; the “Good Effect Insurance” series now covers multiple cancers, including breast cancer and thyroid cancer.
On the service side, the company has used technological empowerment to achieve an automated claim ratio of over 97% for health insurance and launched the AI digital assistant “Smart Xiaoru” to provide end-to-end health management services.
Additionally, Taikang Online has extended insurance coverage to specific scenarios in the digital economy, with products like “Rider Insurance” for new citizen groups such as food delivery riders already serving over 4.4 million people, and its “Taile Insurance” series for micro and small businesses covering nearly 300,000 enterprises.
Taikang Online stated that for the future, the company has put forward the “four goods” vision, aiming at “good business, good finance, good service, and good investment.”
As the insurance industry’s digital transformation enters deeper waters, this kind of exploration that combines internet DNA with professional capabilities may provide useful references for the industry’s high-quality development.
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