Recommendations For The Development Of Pension Communities By Insurance Companies

In the context of the intensification of Chinese aging and the policy to encourage social capital to enter the pension service industry,the "insurance + elderly service " business model is being adopted by more and more insurance companies.However,what is the internal logic of this model,what advantages does it have,what problems are still facing,and how to solve the problems facing the current stage,all need in-depth analysis and discussion.A Elderly Community is the first Chinese elderly community invested by insurance company.Although this middle-to-high-end elderly community has a nearly 100% occupancy rate,however,it is still difficult to make a profit.More than this,the increasing external competitors have increased the operating pressure on A Elderly Community.The reason for this problem is whether the logic of the business model is flawed,or whether there is a problem with the operation mode of the A pension community,which requires analysis and thinking.The analysis and thinking of these issues have certain reference value for China’s "insurance +elderly service" business model experience.Domestic and foreign elderly care system and business models have been analyzed through checking considerable papers as well as conducting field research.It has been presented that the development process and business evolution since beginning in 2013.Besides,a core competitor has been selected to execute elderly care and medical business comparative analysis based on the perspective of A Elderly Community.The results show that insurance companies have a natural advantage in participating in the elderly service industry.They can dig deep into their big data of life insurance and health insurance to detect customers’ potential pension,nursing and medical demands.The shortcomings are the lack of a flexible price list and charging methods and the inability to meet the needs of middle-high income group for high quality medical services in A Elderly Community.From the above two aspects,suggestions are put forward for improving the current status of the A Elderly Community’s operation and the business model of the A Elderly Community has been discussed to find a direction for its subsequent development.At the same time,based on the analysis results,this paper concludes that the key success factor of the "insurance + pension" business model is the medical business.How to ensure the quality of medical services,as much as possible to improve efficiency and reduce costs is the key to success.However,under the current medical and health system in China,it is almostimpossible for the old nutritional community to complete this task independently.Therefore,it is necessary to actively establish cooperative relations with the government and large public hospitals to improve efficiency.