ZhongAn Insurance Teams Up with Baowang to Launch Flagship Medical Insurance Product

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China's commercial health insurance market is approaching a trillion-yuan milestone as the advancement of the "Healthy China" initiative and a more diverse needs of health insurance products. The "Million Medical Insurance" with a focus on public health, offered by tech-driven platform, has gained widespread market recognition and has become a key growth driver in the health insurance market. Policy support has further opened doors for innovation and expansion in this sector.  

Recently, ZhongAn Insurance held the “Growing Together - a Decade of Excellence” launch event for the 10th-anniversary upgrade of its flagship product, ZhongAn Premium E-Health. At the event, the company officially introduced Premium E-Health 2025 Edition and announced two new product lines as the future cornerstones of its health insurance offerings: the “Premium Series”, targeting healthy individuals, and the “ZhongMin Protect Series”, designed for individuals with pre-existing or chronic conditions. Baowang, an internet-based insurance platform under BGM Group (in which AIX holds approximately 72% equity), co-initiated the product and, as an important partner and sales channel for ZhongAn Insurance, participated in the launch event.  

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5 Key Upgrades in the Premium E-Health 2025 Edition

1. The Premium E-Health 2025 Edition products expand their coverage to include medications and medical devices purchased outside hospitals, with no restrictions on diseases, medication lists, or inpatient and outpatient settings. This breaks away from the traditional inpatient-focused reimbursement model in most million medical plans, addressing limitations in coverage scope after healthcare reforms.  

2. These products significantly expand their coverage of private hospitals, a feature previously limited to mid-tier health insurance. It increases the number of private hospitals from 68 to 102, while the number of proton and heavy ion therapy hospitals grows from 3 to 9, offering patients greater flexibility and accessibility to quality medical care.  

3. The medication list now includes 312 drugs, covering 257 advanced oncology treatments, 30 rare disease medications, 15 Hainan Boao specific drugs, and 10 albumin-based treatments. This includes six CART therapies and four NTRK-targeted cancer drugs. Claims for designated medications remain fully reimbursable, with a maximum benefit of RMB 6 million.  

4. A wider range of optional add-ons including the Hospitalization Stipend and the Pharmacy Savings is designed to cover minor illnesses like colds and fevers, the Pharmacy Savings Add-on reimburses prescription costs at designated online pharmacies for an annual premium of just RMB 99, applicable to all age groups. It also features same-city medication delivery in major cities and provincial capitals, with orders arriving in as little as 30 minutes, significantly improving medication delivery speed and claims efficiency to meet urgent needs. As eligible costs are directly covered by the insurer, customers are only responsible for out-of-pocket expenses.

5. Underwriting has been significantly relaxed, offering better terms for previously excluded conditions. Individuals with conditions like thyroid, breast, or lung nodules, previously denied full coverage under the old Premium E-Health Plans, may now reapply for reconsideration under revised terms.  

 

Baowang sees vast opportunities in the million medical insurance market. With their competitive features, Premium E-Health 2025 Edition products are poised for strong growth. Over the past decade, Baowang and ZhongAn Insurance have successfully expanded their customer base for the Premium E-Health series from 70 million to 120 million policyholders. Looking ahead, Baowang will continue collaborating with leading insurers like ZhongAn Insurance to bring quality products and services to a broader audience and ensure lasting care and protection for every customer.