AI in China
Editorial by Hugh Terry
We are at the cusp of an AI revolution in insurance. To learn more about what we can expect we look to China, and how this rapidly growing market is approaching and embracing the possibility of AI, which will undoubtedly decide the course of insurance over the next decade. With the real prospect of AI replacing humans across many insurance functions, we investigate what this will mean for distribution, claims handling and operations, among other things. In thought leadership this month Swiss Re also asks how future liability regimes will need to adapt to respond to the risks associated with autonomous systems more generally.
In conversation this month we speak with Jason Yu of Taikang Life, China’s fourth largest life insurer and the first to be granted an online license. Among areas discussed, Jason shares with us his insight into the major innovation trends being embraced by Taikang and others in the region, as well as the future of the agency channel for life insurance distribution.
And in our ongoing series of InsurTechs from China we meet 4Paradigm, a Beijing-based startup that began life building Baidu’s keyword anticipation feature, before developing its own intelligent claims solution.
Finally, as always, we share this month’s roundup of innovations from around China and the rest of the World.
Enjoy the newsletter.
The Digital Insurer
Technological disruption and emerging AI Legislation
Jason manages the agency division at Taikang Life - the first life insurer to be granted an online license.
Brolly is the UK’s first artificially intelligent insurance advisory application.
Swiss Re is re imagining its corporate culture in order to capitalise on digital opportunity.