Maintenance: The SOA will be performing scheduled maintenance of our eLearn Assessment servers on Tuesday, April 23rd, 2024 from 5:00 AM CT to 3:00 PM CT. Should your assessment fall within this timeframe, please contact elearn@soa.org for assistance.

This does not affect access to coursework at https://learning.soa.org.

Edition

China: An Era of Insurance Innovation

Authors

Alberto M. Ramirez, FCA, MAAA
Research Leader

Stephen Knights, PhD

Yilin Chen, MSc

Fei Shen, MSc

Valera Filatov, CFA

CRISIL, an S&P Global Company

Description

The Chinese insurance market is grappling with product innovation, business growth and regulatory oversight as it tries to keep pace with a sharp growth in demand across product segments. In this context, the authors have highlighted insurance trends in China, based on available research and literature, with a particular focus on topics that will drive the enterprise risk management (ERM) function of insurance companies. ERM provides an opportunity for insurers to identify and mitigate potential insurance risks by enhancing their policies and risk management activities. This report explores the insurance trends in detail, drawing on findings from interviews of practitioners in the Chinese market, to provide context for the drivers of ERM transformation.

Report

China: An Era of Insurance Innovation

China: An Era of Insurance Innovation, Simplified Chinese Executive Summary

Podcast

Research Insights - Regulatory and Innovation Risks in China, India, the U.S. and Canada.

Acknowledgments

The researchers’ deepest gratitude goes to those without whose efforts this project could not have come to fruition: the Project Oversight Group (POG) and others for their diligent work overseeing questionnaire development, analyzing and discussing respondents’ answers, and reviewing and editing this report for accuracy and relevance.

Project Oversight Group members:
Louise Francis, FCAS, MAAA, CSPA, Chair
Carlos Brioso, FSA, CERA
Victor Chen, FSA, FCIA, CERA
Joseph Cofield, FCAS, MAAA
Ronald Harasym, FSA, FCIA, CERA, MAAA
Karen Jiang, FSA, CERA, MAAA
Kevin Madigan, ACAS, CERA, MAAA
Jing (Nancy) Ning, FSA, FCIA, CERA, FRM
Frank G. Reynolds, FSA, FCIA, MAAA
Sandee Schuster, FSA, MAAA

At the Society of Actuaries Research Institute:
David Schraub, FSA, CERA, MAAA, AQ, Senior Practice Actuary
Jan Schuh, Senior Research Administrator

Questions or Comments?

Give us your feedback! Take a short survey on this report. Take Survey

If you have comments or questions, please send an email to research@soa.org.