DXY Launches China's First Mutual Insurance Plan Exclusively for Healthcare Professionals

Recently, the “Dingxiang Renyi Mutual Insurance Plan” (hereinafter referred to as Dingxiang Renyi), jointly launched by DXY and Zhonghui Property Mutual Insurance Cooperative, was officially introduced. This is China’s first mutual insurance product specifically designed for healthcare professionals.

Dingxiang Renyi Insurance covers healthcare professionals within China, including doctors, nurses, medical technologists, public health practitioners, and pharmaceutical professionals, aged 18 to 70.

This project includes critical illness coverage, covering 100 types of critical illnesses and 30 types of minor conditions, as well as accidental injury protection andSudden Death Liability Coverage, with a maximum total coverage amount of up to RMB 1.3 million.

Medical practitioners can purchase insurance simply by clicking the relevant links on the “Dingxiang Zhihui” app or its WeChat official account. The initial premium is only RMB 3, with subsequent monthly premiums ranging from RMB 10 to RMB 30. Annual premiums are offered in three tiers: RMB 113/year, RMB 223/year, and RMB 333/year.

Note: The above chart shows the insured age as30Product Comparison at One Year of Age

As China’s first mutual insurance product specifically designed for healthcare professionals, “Dingxiang Renyi” employs a jury mechanism to fully ensure the fairness of claims settlements. In the event of disputed claims, the jury will collectively deliberate on whether to approve payment. Furthermore,““Dingxiang Renyi” is an insurance product filed and registered with the China Banking and Insurance Regulatory Commission (CBIRC). Zhonghui Mutual Property Insurance Cooperative, an insurance institution under the strict supervision of the CBIRC, provides coverage for this plan to ensure the fulfillment of members’ insurance benefits.

Mutual insurance refers to an insurance activity in which entities or individuals with homogeneous risk protection needs become members by entering into contracts and paying premiums to form a mutual aid fund. This fund assumes liability for compensating losses caused by incidents specified in the contract, or assumes the responsibility of paying insurance benefits when the insured dies, suffers disability or illness, or reaches the age, time period, or other conditions stipulated in the contract.

Mutual insurance has developed rapidly in recent years, thanks to its strong risk resilience and competitive vitality. According to statistics from the International Cooperative and Mutual Insurance Federation (ICMIF), mutual insurance accounted for 27% of the global insurance market share in 2017, covering 922 million people. It has become one of the mainstream organizational forms in the current world insurance market and holds a significant position globally. In 2016, mutual insurance entered China, with Zhonghui Property Mutual Insurance Society becoming the first national mutual insurance organization.

Dingxiangyuan is China’s leading internet platform for healthcare professionals, boasting 5.5 million professional users in the healthcare industry, including 2.1 million physicians, which accounts for approximately 71% of the total number of physicians in China. Over the past 19 years since its establishment, Dingxiangyuan has remained committed to delivering innovative value and services to healthcare professionals. It has built an industry-leading digital infrastructure and service operations system tailored to the career development pathways and practical needs of medical practitioners.

Li Tiantian, founder and chairman of DXY, stated, “Since its inception, DXY has established a comprehensive self-governance system for its physician members. This aligns perfectly with the mission and essence of mutual insurance. The launch of the [DXY Renyi] project represents a small yet positive step forward in the industry, and we hope it will bring greater value and protection to healthcare professionals.”

Regarding this collaboration, Li Jing, Chairman of Zhonghui Mutual Property Insurance Society, stated: “Providing adequate risk protection for specific groups in specialized fields is the mission and essence of mutual insurance. The first exclusive insurance product launched by Zhonghui for medical professionals will adhere to the principle of inclusiveness, covering all core risks faced by medical practitioners, such as critical illnesses, accidents, and sudden cardiac death, thereby offering them maximum protection.”