Life insurance innovation
This month we consider the efforts underway to evolve the product development and distribution of life insurance in China, which has long been characterised by commodity product lines and legacy distribution channels, but is now being challenged by InsurTech innovations. We also interview Puying Tech CEO Ran Guo, who is localising claims processing software for China, and Swiss Re’s Jonathan Anchen shares his insight into the technological advances that have the potential to radically change the way life insurers interact with consumers.
The Digital Insurer
Several startups, combined with regulator encouragement, are challenging the longstanding norms that exist within the life insurance sector.
Technological advances have the potential to radically change the way life insurers interact with consumers and also help them better assess and price risks.