Affected by the new coronavirus pandemic, the transformation of insurance agents' marketing model is particularly profound.
Since the outbreak of the coronavirus, digitalisation has become a necessity for several insurers in China. However, major Chinese insurance giant Ping An seems to have realised this much earlier than others as it was an early adopter of shifting operations online.
The board of directors of Taiwanese life insurer, Shin Kong Life, has approved a proposal to increase the company's investment in Beijing-headquartered Dingcheng Life Insurance by CNY187.5m ($26.3m), according to a filing with the Taiwan Stock Exchange.
China's banking and insurance regulator has announced that it would relax rules for insurers investing in banks' capital replenishment bonds, as Beijing seeks to ease the burden on smaller banks hit by the coronavirus pandemic, reported Reuters.
Nasdaq listed Fanhua, a leading independent financial services provider in China,Since the beginning of May, has gradually resumed all kinds of offline training, agent recruitment and sales activities, following a lockdown imposed as the COVID-19 pandemic spread.
China has room to stimulate an economy trying to recover in the wake of the coronavirus pandemic, but the government does not want to open the "floodgates", Premier Li Keqiang said yesterday at the end of the annual meeting of the national parliament, reported Reuters.
From January to April, the Chinese insurance industry achieved aggregate premiums of CNY1.99tn ($277.8bn), a year-on-year increase of 4.34%. This is an improvement over its performance in the first three months of this year
The Life Insurance Department of the CBIRC has drafted guidelines relating to the management of health services in insurance companies.
China's insurers are culling their databases of insurance agents for incomplete data and the names of those who remain in the records though they have quit.
Ten insurance companies have issued capital supplementary bonds this year to date, raising a combined CNY51.95bn ($7.3bn), a figure which exceeds the total amount raised the whole of last year.