• Title/Summary/Keyword: InsuTech

Search Result 3, Processing Time 0.03 seconds

Introduction of InsurTech and Analysis of Re-Entry into Chinese Insurance Market for Korean Insurance Companies (인슈어테크 도입과 한국 보험회사의 중국 보험시장 재진출 전략 분석 연구)

  • Hwang, Ki-Sik;Choi, Sin-Young;Kim, Se-Jin
    • Journal of the Korea Institute of Information and Communication Engineering
    • /
    • v.22 no.9
    • /
    • pp.1147-1152
    • /
    • 2018
  • In the recent, Chinese insurance market has taken a introduction of InsurTech. It is a combination of insurance and fintech. This means that the policyholder design their own insurance and take out the policy on-line without insurance planner. This trend is remarkable issue. Growth rate of InsurTech in China have significantly been growing. In addition, Chinese insurance market has kept generally stable and fast growth rate, although Chinese forecasting economic growth is subject to massive uncertainties. Nevertheless, the increase in the number of Korean insurance companies fails to settle into Chinese insurance market due to lack of awareness about newness of Chinese insurance market. Moreover, Korean insurance company in China or planning to enter are not prepared for InsurTech yet. Chinese insurance market is valuable for Korean insurance companies. This paper suggests implications of re-entry into Chinese insurance market to Korean insurance companies by analyzing policies which could make environment to endorse Chinese insurtech and case of Chinese insurtech companies.