China’s insurance mart expanded by 27.5% to CNY3.09 trillion in 2016, and a 20.45% y-o-y growth in the first eight months of 2017 to CNY2.77 trillion. Changes though are brewing in the insurance industry.
Aside from embracing global megatrends of digitalisation and automation, industry players have also had to grapple with the slew of CIRC measures introduced in the last couple of years to strengthen both market and the players. China is resilient, says everyone. Companies race to blaze the market, in innovation and product development. Both local and foreign insurers agree that the market is simply dynamic and potential is abundant.
Source : AIR | 01 Nov 2017