As reported by Rednet Times News on May 23rd, the insurance industry, acting as an economic “shock absorber” and social “stabilizer,” has been instrumental in providing a solid guarantee for the high-quality development of the real estate sector and serving the national economy and people’s livelihood. With China’s rapid economic growth and improving living standards, the demand for high-quality insurance protection services from various sectors and the general public is increasing. This has prompted the insurance industry to continuously optimize its service momentum and deepen its transformation from a “passive risk compensation tool” to a “guardian of the entire life cycle.”
This transformation is particularly urgent in the field of housing safety. As one of the “old three” in China’s insurance industry, CPIC Property & Casualty Insurance has always been at the forefront of deepening transformation and proactive innovation. In recent years, CPIC Property & Casualty Insurance Hunan Branch has been actively exploring a new model of “insurance + technology + service,” launching a pilot project of “House Security” comprehensive insurance. Relying on an intelligent house safety system, it builds a full life cycle safety barrier for houses, covering pre-event prevention, in-event control, and post-event compensation.
Housing Safety: A Critical Social Issue
Housing safety concerns thousands of households and is an important foundation for maintaining the quality of life of residents and social stability. Relevant data shows that by the end of 2022, nearly 20% of the existing houses in China’s urban areas had been built for more than 30 years. It is estimated that by around 2040, nearly 80% of the houses will enter the “middle-aged and elderly” stage. As a large number of houses experience a “mid-aged wave,” building a solid safety defense line for old buildings is crucial.
In recent years, the state and local governments have successively introduced policies to promote the formation of a long-term mechanism for housing safety, providing a basis and guarantee for the safety management of the entire life cycle of houses. In May 2022, the General Office of the State Council issued the “National Special Rectification Work Plan for the Safety of Self-built Houses,” clearly stating the need to improve mandatory standards for house quality and safety and to study and establish systems such as regular house check-ups, house pensions, and house quality insurance.
In September 2023, the Ministry of Housing and Urban-Rural Development designated Changsha and Zhuzhou as pilot cities for the “three systems,” promoting the full implementation of regular housing check-ups, housing insurance, and housing pensions. In August 2024, Wang Shengjun, spokesperson for the Ministry of Housing and Urban-Rural Development and director of the Department of Housing Reform and Development, stated that efforts would be accelerated to establish these three systems. In March 2025, the Department of Housing and Urban-Rural Development of Hunan Province held a video conference on the special rectification work of rural housing construction management and the safety of self-built houses by residents throughout the province. Localities were required to continuously promote the regular inspection and rectification of the safety of self-built houses by residents, accelerate the “look back” work on the appraisal of self-built houses by densely populated commercial residents, actively promote the pilot program of safety insurance for the main structure of houses in densely populated places, innovate the “insurance + physical examination” management model, and enhance the safety supervision level of existing self-built houses by residents.
Introduction of “House Security” Comprehensive Insurance
Against this backdrop, the “House Security” comprehensive insurance of CPIC Property & Casualty Insurance Hunan Branch was launched. This innovative insurance model was developed in accordance with the work requirements of the Hunan Provincial People’s Government and with the support of the provincial housing and urban-rural development, regulatory, and other departments. It mainly covers the protection of damage to the house itself (house collapse), compensation for temporary resettlement expenses, compensation for casualties, dynamic detection, and expense compensation, etc.
Features of “House Security” Comprehensive Insurance
Compared to other insurance types, “House Security” is not only about compensating for accidents but also involves conducting a comprehensive physical examination of the house. For instance, within a one-year insurance cycle, every quarter, professional inspection institutions cooperating with insurance companies will conduct comprehensive safety check-ups, including exterior inspections and on-site visits, to establish a comprehensive “health record” for the house. This effectively prevents and eliminates major disasters and prevents and disperses safety risks.
Meanwhile, through a professional “House Safety System,” dynamic monitoring of house safety management is achieved. By adopting a market-oriented approach of “insurance + service + technology,” safety management throughout the entire life cycle of house construction is realized.
From risk compensation to risk prevention, from single protection to full-cycle protection, the innovative practice of CPIC Property & Casualty’s “House Security” comprehensive insurance not only represents a leap in the service level of the insurance industry but also marks a paradigm breakthrough in the modernization of social governance.
Future Outlook
As the first advocate in Hunan Province, CPIC Property & Casualty Insurance has included “housing security” in its 2025 people’s livelihood projects, planning to cover 40% of the districts and counties in the province by the end of the year. The company aims to promote “insurance + technology” as a new standard for housing safety governance.
A relevant person in charge of CPIC Property & Casualty Insurance Hunan Branch stated that by launching housing safety insurance, it has effectively assisted governments at all levels in providing a “protective umbrella” for the living safety of local residents. When natural disasters, accidents, and other misfortunes strike, this insurance can help the affected people quickly restore their lives, reduce losses, and bring them a real sense of security. This is not only a powerful safeguard of the lives and property of the people but also a concrete manifestation of the company’s commitment to the development philosophy of putting people at the center.
Related Topics:
