United Family Healthcare (UFH), the healthcare services division of Chindex International, has signed a deal with Datong Financial Services to further its cooperation in tapping the high-end health insurance market.
Jiang Ming, chairman and CEO of Datong, said the company realized the potential of high-end health insurance three years ago. By the end of 2014 Datong's premium income had reached 20 million yuan ($3.22 million).
"We are committed to increase our premium to 200 million yuan within three years, with our clients rising to 10000," said Jiang.
Statistics from international consulting firm Accenture showed China's high-end premiums reached around 2 billion yuan last year, and future business is predicted to grow by 20 percent annually.
According to Zhao Jiaying who is in charge of UFH's staff welfare, though there are more high-end health insurance service providers in the market, there are not many customer-tailored products and the pricing of those products are not so transparent.
UFH was the first and remains China's largest foreign-invested healthcare provider. After 17 years in China, UFH has established itself in Beijing, Shanghai, Guangzhou, Wuxi, Tianjin, Mongolia, and now Qingdao as the provider of choice for those who want the very best in personalized healthcare.
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