With the changing economic landscape in China, China’s insurance market faces many challenges ahead. While the lack of experienced insurance professionals and relatively at a young age of the industry itself prove to be major challenges, this is just the start for what will be the most robust insurance industry in the world.
Since the reform and opening up of the 1970s, China has been on a path of rapid growth and development. A key element of this growth has been the maturation and reform of China’s financial industry which has provided the infrastructure underlying and enabling China’s economy to become the largest in the world.
This report will examine the changes taking place in China's insurance market, implications, challenges, and how the advent of advanced data analytics will play an increasingly important role in the industry.