Recently, VYV Group, Europe's largest health insurance group, announced its establishment. Launched and led by France's two major mutual health insurance groups, MGEN and Harmonie, and formed with the participation of several mutual insurance institutions, it has become France's largest health insurance group in one stroke, as well as the largest local non-profit private group providing health care and social services. Its establishment represents an innovative measure and unremitting effort by the mutual insurance industry to improve the social security system and promote social benefits.
VYV Group provides health insurance, medical and social services to 10 million members (equivalent to one-sixth of France's total population), with annual revenue of 9 billion euros. The group provides mutual insurance products for working people (including private-sector employees, public-sector workers, artisans, merchants, freelancers, farmers, etc.), young people, students, retirees and other vulnerable groups, covering basic and supplementary medical insurance for individuals and groups, personal insurance, and pension annuities. At the same time, through the many health and social medical institutions it manages, the group provides disease prevention and health management services to insured members and the general public.
Improving the social security system—a natural ally of social security
Social security systems have always been an important means for governments to ensure market competitiveness and respond to social problems such as population aging, and are known as the "stabilizer of the economy." As economic globalization continues to advance, people in all countries have higher and broader demands for social security, and governments face more challenges and pressure in terms of the ways and content of the protection they provide to members of society. In response to this issue, the establishment of VYV Group will be committed to promoting a comprehensive upgrade of French social security, providing mutual insurance services for different industries across multiple fields such as health. Mr. Weiran, Vice President of VYV Group and former CEO of MGEN, believes that mutual insurance pursues the interests of all members rather than profit, can cover a broader range of social members at cost-effective insurance prices, and is bound to become a natural ally of government social insurance and a useful supplement to the social security system.
Relying on the excellent management experience of member institutions such as MGEN and Harmonie in health insurance and medical care services, and on their close cooperation with the health industry, VYV Group will continuously promote innovation and improvement of the social security system, advance the formulation of social security-related laws, regulations and policies, extend health protection to all aspects of society, and inject momentum into the overall improvement of social benefits.
Putting members at the core to better serve every member
In today's internet era, innovative technologies such as mobile payment, the Internet of Things and big data are profoundly changing people's lifestyles while also giving rise to new risks and protection needs. More targeted insurance products, more digitalized ways of purchasing and claiming, and more attentive insurance services are demands that modern people cannot ignore when it comes to insurance.
Adhering to the development strategy of "placing the interests of insured members at the core of the group," France's VYV Group will better serve its insured members through a variety of measures: the group will integrate the medical resources and care networks of its member institutions and actively develop more diversified health services; improve member communication mechanisms and implement nursing service responsibilities to provide each member with the insurance products best suited to their needs; and invest in developing digital technologies to provide members with more convenient, smarter and more personalized services.
VYV Group's international development vision
VYV Group and its main member institutions, MGEN and Harmonie, are committed to promoting international mutual aid, with operations across France and in more than 170 countries and regions worldwide. The group has launched mutual insurance business in Portugal and Italy, initiated social security and mutual medical insurance projects in West Africa, and also provides health insurance for expatriate employees of various countries. Mr. Weiran, Deputy General Manager of VYV Group and former CEO of MGEN, said: "Following the establishment of VYV Group, we hope to bring more of the group's successful experience and innovative technologies to the whole world and contribute to the building of social security systems everywhere."
As an important founder and member institution of VYV Group, MGEN entered China in 2010 and has been actively sharing its successful experience in the international mutual insurance market with Chinese peers. In 2017, MGEN joined hands with the China Association of Social Security to participate in research on a mutual insurance project in Wuhou District, Chengdu, beginning to explore a long-term care mutual insurance system with Chinese characteristics. Going forward, VYV Group will bring more resources to continue advancing its cooperation projects in China.
The institutions under VYV Group are all long-established and dynamic mutual insurance institutions. Among them, MGEN has been a mainstay of the French social security field since the 19th century, bringing 70 years of successful experience to the development of VYV Group, and is particularly prominent in areas such as entrusted management of basic social medical insurance, mutual insurance governance models, and long-term care-related services and products.
Source: Qingdao Finance Network 2017-10-26