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Chinese Insurer Offers First Medical Beauty Insurance

Taiping General Insurance has teamed up with a Shanghai-based financial information services company’s internet beauty services platform Aimeidai (amy100.com) to offer the first medical beauty insurance policy in the Chinese mainland.

For the first time, medical beauty insurance is available as a form of commercial insurance in China’s medical beauty market.

Branded as Aimei Taiping, the medical beauty insurance aims to promote the healthy development of the entire medical beauty industry in a more regulated manner, as well as provide safer, high-quality services and greater peace of mind to Aimei’s customers.

It is noteworthy that, with the rapid increase in demand for medical beauty services in China, the number of plastic surgery in China has taken a share of 12.7% of the total global plastic surgery, becoming the world's third largest country in plastic surgery.

China’s medical beauty industry revenue reached Rmb400 billion in 2015, becoming the fourth largest service industry after real estate, cars and travel. Workforce involved in plastic surgery in the mainland is as high as 7 million in headcount.

Given the people’s growing demand for plastic surgery and the mushrooming of plastic surgery businesses, incidents involving the risk of accidents and medical malpractice are frequent occurrences. In view of this, the medical plastic industry urgently needs a reliable platform for regulation and protection.

Content provided by Picture: HKTDC Research
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