What is' mutual treasure'? Seven questions make you completely understand.

Recently, there was an insurance business that was widely discussed because of "relying on Ant Financial", "applying blockchain technology" and "breaking through 20 million users in four days". As "the first commercial insurance for young people", what are its magic and problems? Here are seven questions we care about to help you understand this service.

1. What is' mutual treasure'?

Mutual assistance treasure', as its name implies, is that everyone forms a mutual assistance agreement organization. Some members of the organization are seriously ill, and everyone will join in to help them tide over the difficulties. The principle is similar to insurance.

Initiated by Ant Financial and Mei Xin Life Insurance, they began to "protect each other". Because Mei Xin Life was interviewed by the regulatory authorities, it was forced to quit, and Ant Financial Services operated alone.

In order to avoid regulatory risks, Ant Financial renamed' mutual insurance' as' mutual insurance' and defined it as a mutual aid organization, not insurance. More than 20 million people participated in this service.

Second, how to charge, what is the premium and the insured amount?

The charging and claims mode of' mutual insurance' is quite special. You can join the enjoyment insurance first, and settle the premium according to the total number of mutual insurance and the total number of cases every month. If you feel that the premium is too high or inappropriate, you can quit at any time, and the threshold is relatively low.

On the 7th and 20th of each month, 2 1,' Hubao' announces the number and amount of claims in the first half of the month, and counts the total amount of claims. At the same time, Ant Financial Services charges 8% management fee, forming a total amount. On June 4 and June 28, 65438, all participants in Gongbao will share the total amount equally.

Ant Financial also promised that the single average share would not exceed 1 cent, and the annual premium paid in 20 19 would not exceed 188 yuan, which exceeded the promise of some Yu 'ebao.

In terms of insurance coverage, the maximum compensation for people under 40 years old is 300,000, and the maximum compensation for people over 40 years old is 654.38+ 10,000.

It seems a little circuitous. For example, the number of members of Mutual Insurance is 5 million, and 100 accident cases have been publicized. The maximum compensation amount is 30 million, and the management fee of 10% agreed in the agreement is 3 million. Then 5 million people will share 33 million equally, and everyone will deduct the premium 6.6 yuan in the current period. A single case per person does not exceed 10 cents, and the annual fee for 20 issues does not exceed 188 yuan.

3. Who is eligible for insurance? Can I insure my family?

"Mutual insurance" is in the initial stage of its launch, and it is tentatively open to ant members with sesame scores above 650 and their minor children. With the continuous operation of mutual insurance and the maturity of product service mechanism, the joining conditions will be gradually optimized.

4. What's the difference with traditional commercial insurance?

First of all, there is a good father, with 622 million users backed by Ant Financial, and 4 1 day exceeds 20 million users; Secondly, the threshold is low and the rate is low. Buy and enjoy, you can quit at any time, the annual rate is as high as 188 yuan, and you can buy and claim online. Once again, it is open and transparent, and all creditor's rights are publicized online and subject to supervision.

However, there is a problem of system design. Commercial insurance instinctively hopes that the fewer people take risks, the better, the lower the compensation amount and the better the profit. The profit of Huzhubao comes from the management fee of 8% of the premium, so the more times the premium is paid, the higher the compensation amount is, and the better it is for Ant Financial. Will this encourage misrepresentation of insurance premiums and exaggeration of compensation?

5. Is there any legal risk?

Specifically, there is.

Mei Xin Life Insurance, a former partner with an insurance license, was forced to withdraw because of an interview with the regulatory authorities. Can Ant Financial Service continue this business without an insurance license? Although Ant Financial defines it as a mutual aid organization, everyone knows the nature of this mutual aid organization.

But for ordinary people, there is no legal risk and economic loss, and it is originally a service that can be enjoyed by insurance.

I hope this service can be like the experience of Ant Financial. Although it is in a gray area, it is acquiesced by the regulatory authorities.

6. Who will review and supervise the claim?

In order to ensure the truthfulness and accuracy of the case itself and the public information, Ant Financial has set up a relatively complete mechanism flow: first, each member must declare its authenticity when submitting the claim application materials; Secondly, the management team will carefully investigate and review the information uploaded by members; Third, publicize all appeals and accept supervision. Cases that have objections in publicity will be publicized again after supplementary investigation, and those with conclusive evidence will be recovered according to law.

In addition to mechanism guarantee, mutual insurance will also introduce blockchain technology. All evidence and capital flows related to compensation cases will be witnessed at all nodes of the blockchain, such as notary offices, judicial expertise centers, electronic certificate centers, and courts. The whole link is credible and has more legal effect than tampering.

7. Can it replace traditional insurance?

You can't.

First, the insurance coverage is not high enough. The insured amount under 39 years old is 300,000 yuan, and the insured amount for 40-59 years old is 65,438+10,000 yuan. In reality, the medical expenses of patients with major diseases and their families are much higher than this amount.

Second, the guarantee period is not long enough. Mutual insurance will automatically quit after the age of 60, and the incidence of major diseases will increase with age.

Therefore,' mutual insurance' is more as a supplement to the critical illness insurance, benefiting more groups lacking commercial health protection.

These are the seven issues of mutual treasure that everyone is concerned about, hoping to let you know more about this new insurance model. Choose the insurance combination that suits you.