vol.053：China's Insurance Experiment：Peer-to-Peer Insurance

The source provides a detailed overview of China's "net mutual assistance" or "wari-kan insurance", a form of peer-to-peer insurance that is legally separate from traditional insurance products. This system, exemplified by major platforms like Alibaba's Xiang Hu Bao and Tencent's Shui Di Hu Zhu, involves participants paying small, post-event "contribution fees" to cover the medical costs of sick members, with payments often decided by a member-wide voting process. The text highlights the system's innovative use of technology (like AI and blockchain for fraud checks), its high transparency and low cost, and the unique user experience that fosters a sense of community and mutual support among users. Despite its rapid growth and success in covering low-income individuals, the system faces challenges, including the risk of rising contribution fees leading to member attrition and the difficulty for new platforms to achieve the scale necessary for financial sustainability.

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