On March 30, 2024, a major event occurred that was closely related to the public, but many people may have ignored it.

On this day, Ping An Insurance held a "Live Life, Live and Save Life-China Ping An Home Elderly Care 'Live Union' Conference and Launch Ceremony of Charity Plan" in Shenzhen... You know why it was ignored? The event name is too long!

There are three important words in it:"Living union". Asset Insights starts here.

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Elderly care, professional people do professional things

Silver hair economy was a hot topic in society during this period.

Because recently, the General Office of the State Council issued the "Opinions on Developing a Silver Hair Economy to Improve the Well-being of the Elderly"-the Silver Hair Economy is already a clear national strategy.

The relevant saying is that China's silver-haired economy is currently around 7 trillion yuan, and it is expected to reach 30 trillion yuan by 2035... A big cake, right?

But this big cake may not be delicious.

First of all, it is a professional thing for professionals to do.

Professor Zhou Yanmin is a very famous architect and interior designer at Tsinghua University. For many years, she has been engaged in refined and standardized research on elderly housing.

Professor Zhou felt deeply about the needs of the elderly and their neglect in practical work.

For example, when Professor Zhou visits a nursing home, he may find at a glance that the design and various details of the nursing home from outdoor to indoor are far from the actual needs of the elderly, which will cause psychological and physiological problems for the elderly.

Why?

Because the design of the nursing home is not professional.

For example, a large square was often built in front of the main building of a nursing home. At that time, the consideration was multi-functional. It could not only carry out various activities in the nursing home, but also provide leisure, entertainment, and exercise for the elderly in ordinary times. But in fact, the elderly are often afraid of large squares and will not go to the squares to do those things. The lack of space and related facilities in the square (such as seats, sunshade, drinking water, etc.) is also inconsistent with the actual needs of the elderly. On the contrary, the small open space in front of each small building where the elderly live often becomes the main place for their daily activities, but there is no relevant facility planning there... How to plan space for the elderly's life is a specialized knowledge.

This is true for nursing homes, and even more so for home care.

In real life, everyone lacks the experience of aging and does not really understand the actual needs of the elderly. When the elderly live in their own home, they rarely think that this home is actually incompatible with their elderly life. Even if they have some ideas, they are unwilling to trouble their children. The children... are even less experienced and do not know how to build a home for the elderly.

Since you want to choose home-based elderly care, your family must meet the professional requirements for elderly care.

One of the most basic things for Professor Zhou Yanmin's team to cooperate with Ping An is to use their research results "Guidelines for Ageing-friendly Transformation of Home Environment" as a guide to provide spatial assessment and transformation of home-based elderly care-to create homes that meet elderly care standards.

In May 2023, the Ministry of Housing and Urban-Rural Development also released the "Guidance Manual for Age-friendly Renovation of Urban Homes", which provides various details of the renovation of elderly housing. If you are interested, you can come and learn about it (easy to find).

Next, the key point is-the renovation of aging-friendly rooms is only a small part of the practice of elderly care. The actual needs of the elderly are much more complicated than this!

Using the classification method of Ping An Insurance, elderly care can be broken down into ten scenarios of "clothing, food, housing, transportation, finance, health, maintenance, entertainment, protection and security". Among them, it must also be subdivided. For example, health includes seven dimensions: physical, cognitive, emotional, spiritual, economic, professional, and social.

What is a silver economy?

It is not just a nursing home called Silver Hair Economy, nor is it just a provision of door-to-door elderly care services called Silver Hair Economy. Instead, these "ten scenarios" and "seven dimensions" are developed separately to connect with industries to form emerging industries and supply chains and service chains.

This is how the 30 trillion yuan market was formed.

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living body

With the above concept.

Let's talk about "living union" again.

Simply put, elderly care is divided into two situations--

One situation is elderly care in elderly care communities (including nursing homes). In Ping An Insurance, it is called "insurance + high-end elderly care" to create a high-quality elderly care community; the other situation is home-based elderly care. In Ping An Insurance, it is called "insurance + home-based elderly care".

The two forms of elderly care will coexist together, but which market will be bigger?

According to relevant data, by the end of 2023, China's population aged 60 and above will exceed 290 million, accounting for 21.1% of the national population. Around 2035, the number of elderly people aged 60 and above will exceed 400 million, accounting for more than 30% of the population.

With so many elderly people, the elderly care pattern formed is called "9073"-about 90% of the elderly choose to support the elderly at home, about 7% rely on community support to support the elderly, and 3% live in institutions to support the elderly.

Home-based elderly care is the big part of the silver economy!

"Residential Union" is the development strategy established by Ping An Insurance based on this understanding. That is, starting from 90% of the home-based elderly care market, we will create a basic living system for Ping An Insurance's home-based elderly care-"connecting" scattered homes, standardizing and systematizing them, and solving the problem of "living" in the "Top Ten Scenarios".

As mentioned above, the aging-friendly home renovation provided by Zhou Yanmin is an important part of the "living union".

Ping An Insurance generally interprets the "residential union" function as "573 Home Safety Transformation Service"--

"5" refers to the rapid discovery of home safety hazards and needs of the elderly through 5 minutes of independent evaluation;"7" refers to the integration of alliance resources and targeted provision of intelligent aging-friendly renovations for the "seven spaces";"3" refers to the "three-in-one"(smart housekeeper, life housekeeper, doctor housekeeper) housekeeper realizes full-process service follow-up and all-weather risk monitoring.

Before the "living union", Ping An Insurance has already promoted the concept of "protective union", which is to solve the problem of "protection" in the "Top Ten Scenarios", such as providing patients with rehabilitation care needs such as nerves, bones, heart and lung, pain, etc., providing 10 short-term and long-term services such as rehabilitation and home care based on specific diseases.

平安居家养老十大服务场景

In other words,"residential union" is just one of the "top ten service scenarios".

In theory, in the future, Ping An Insurance will have "clothing union","food union","living union","travel union","financial union","health union","nursing union","happy union","protection union", 10 deep cultivation systems, and will eventually be professionally integrated into the real life of elderly care.

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Safe run

Let's take a look at the layout of Ping An Insurance's pension.

Generally, pension issues are considered to have two major difficulties:One is funds; the other is systematic services.

The combination of the two is precisely the specialty of the insurance industry. On the other hand, the huge market potential also makes people optimistic about the insurance industry's entry into the pension field. Therefore, the pension insurance license is also called a "super license."

In November 2023, the "Notice of the State Financial Supervision and Administration on Issuing the Interim Measures for the Supervision and Administration of Pension Insurance Companies" involved 10 pension insurance companies, including--

Ping An Pension Insurance Co., Ltd., Taiping Pension Insurance Co., Ltd., China Life Pension Insurance Co., Ltd., Taikang Pension Insurance Co., Ltd., Everyone Pension Insurance Co., Ltd., Xinhua Pension Insurance Co., Ltd., People's Pension Insurance Co., Ltd. of China, Heng 'an Standard Pension Insurance Co., Ltd., National Pension Insurance Co., Ltd., CCB Pension Management Co., Ltd.

Over the years, various pension insurances have made great efforts to lay out elderly care communities. There are various models for the construction of elderly care communities, many of which overlap with the real estate industry, that is, elderly care real estate development, taking the path of "real estate development + elderly care services".

Ping An Insurance's formulation today is that the company wants to become "an international leading comprehensive financial and medical elderly care service provider" and relies on the strategy of "comprehensive finance + medical elderly care".

"Integrated finance" is the concept of financial consultant.

"Medical elderly care" is the concept of health stewards.

For insurance companies, the two are one and two.

Ping An has a formulation called "Ping An Comprehensive Financial One-stop", which is an identity to open up all needs-to solve various living problems of customers with an insurance financial system. The formulation itself describes "comprehensive finance", but it will definitely penetrate into "elderly care".

According to Ping An Insurance's annual report data, as of December 31, 2023, Ping An Insurance had 232 million individual customers, of which nearly 64% of customers (approximately 147 million people) also used the services provided by the medical and elderly care ecosystem-this is the foundation that Ping An can rely on.

In terms of home-based care, at the beginning of 2023, Ping An Insurance had 20,000 customers qualified for home-based care services. By the end of 2023, the number of this group exceeded 80,000, an increase of 60,000 a year.

In other words, Ping An Insurance is already on the road to make efforts to support the elderly at home.

Therefore, on March 30, 2024, the proposal of "living union" is a concept of the present tense and the ongoing tense, marking that Ping An already has a detailed implementable plan-Ping An Insurance has taken a lead on the track.

Editorial board on duty:Li Hongmei

edit:Han Jianming

studying the:Dai Shichao