Demand for insurance of new energy vehicles is growing rapidly along with the sales of such vehicles. In 2017, the number of new energy vehicles insured reached 1.717 million, an increase of 47.0% year-on-year; while the volume of premiums was CNY10.16 billion ($1.53 billion), an increase of 50.4% year-on-year, according to data from the China Insurance Information Technology Management Co.