How about domestic mutual insurance? How much mutual insurance is there?

Let's talk about the advantages of mutual insurance.

First, the interests of the insured and the insurer are the same, which can better focus on the interests of customers and let customers participate in management, thus effectively avoiding moral hazard caused by improper operation of the insurer and fraud of the insured.

Second, the cost of exhibition industry is low, and the accuracy of nuclear disaster loss judgment is high, which can effectively reduce operating costs and provide more economical insurance services for members.

Third, because there is no profit pressure from shareholders, their assets and surplus are used for the welfare and protection of the insured, and insurance products beneficial to the long-term interests of the insured can be developed.

To sum up, there are actually two points. First, because of its special mode, it can provide protection for many risks and people that commercial insurance cannot serve; The second is that the cost is cheap, and most people in China can easily take out insurance.

Up to now, only five mutual insurance companies have been approved in China, namely Zhonghui Property Mutual Insurance Company, Mei Xin Life Mutual Insurance Company, Hui You Construction Mutual Insurance Company, Sunshine Agricultural Mutual Insurance Company and China Fishery Mutual Insurance Company. Among them, Zhonghui Property Mutual Insurance Co., Ltd. was first established in China, and began to make profits on 202 1.