Mutual Risk Sharing and FinTech: The Case of Xianghubao
讲座名称：
Mutual Risk Sharing and FinTech: The Case of Xianghubao
讲座时间：
2021-06-07
讲座人：
吴文锋
形式：
校区：
兴庆校区
实践学分：
讲座内容：
讲座题目：Mutual Risk Sharing and FinTech: The Case of Xianghubao
讲座时间：6月7日（周一）下午14:30-16:30
讲座地点：经济与金融学院802会议室
讲座人：吴文锋
讲座内容：
Literally meaning “mutual protection”, Xiang Hu Bao (XHB) is a novel online platform operated by Alibaba's Ant Financial to facilitate mutual risk sharing of critical illness exposures among participants. There are three major distinctions between XHB and traditional insurance products. First, XHB leverages the tech giant's platform and digital technology to lower enrollment and claim processing costs. Second, different from insurance products applying sophisticated actuarial pricing models, XHB collects no premiums ex ante from its members instead equally allocates indemnities and administrative costs among participants ex post after each claims period. Third, XHB restricts coverage amount, which is less than typical critical illness insurance products, particularly for older participants. We show that the third feature of XHB can lead to separating equilibrium, a la Rothschild-Stiglitz, where low-risk individuals enroll in XHB while high-risk individuals purchase critical illness insurance. Proprietary data from XHB shows that the incidence rate of the covered illness among XHB members is indeed far below that of comparable critical illness insurance across different age groups. Our findings further suggest the role of advantageous selection in explaining the cost advantages of the Fintech-based mutual protection programs.
主办单位：
经济与金融学院
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