MGA Model Evolution in Asia

Roland Berger In China MGA market, MGA model is still in the early stage, most existing players are startups and no dominant player by now MGA landscape in Greater China (1/2) ( Firm A+ A+ International Healthcare Datebao datebao.com Presence > Hong Kong Inception & size License > Started in 2008 > 11-50 employees > Mainland China > Started in 2014 > 100-499 employees > NA > Insurance Broker in CN > Agent license in HK > Insurance broker and Insurance agent in CN CareVoice > Mainland China > Started in 2014 > NA in CN > Hongkong > 20-99 employees CareVoice WKBins > Mainland > Started in 2015 China > 50-99 employees 悟空保 One Degree > HongKong > Started in 2016 > 51-200 employees > Virtual insurance license in HK OneDegree > Mainland > Started in 2016 China 保险之家 > <20 employees Homeins > Under application Product focus > International high-end health insurance plan > Health insurance covering accident, air travel, adult, children, elderly insurance > Health insurance one-stop solution > Health insurance, including critical illness, medical, accident and life insurance > Health insurance solutions > MGA (to get license) Broker\agency management Takeaway 80 Players started as or close to MGA model are almost independent MGAs and in small size These players partnership with leading health insurance companies, and focus on niche, uncovered health protection demand, and cut in from the product side Homeins. Case study as follows Source: Press review, official websites, desktop research, Roland Berger analysis 20200525_MGA model evolution Asia_vf.pptx | 21

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