Captive Research

Industry research reports, special topics and regulatory interpretation

JD Finance Insurance: Extending Consumption Scenarios and Innovating to Build a Comprehensive Insurance Service Platform

At present, the internet insurance industry is beginning to “speed up.” Data released by the Insurance Association of China shows that in the first half of 2016, the internet insurance market developed rapidly, with cumulative premium income of RMB 143.11 billion, 1.75 times that of the same period last year, close to the full-year premium level of internet life insurance in 2015, and its share of the industry's total premiums rose to 5.2%, further enhancing its position among all channel businesses. According to Bain & Company's forecast, over the next 3–5 years, 82% of consumers in China will purchase insurance via the internet, indicating broad room for the development of internet insurance.

2017-01-10

Author：Editorial Team
CIRC Issues Guidelines for Product Rate Determination of Property Insurance Companies

To safeguard the legitimate rights and interests of insurance consumers, standardize the product rate determination process and management and control systems of property insurance companies, and improve the quality of product development, the China Insurance Regulatory Commission (CIRC) recently issued the Guidelines for Product Rate Determination of Property Insurance Companies (the "Guidelines"), which will be officially implemented from February 1, 2017.

2017-01-10

Author：Editorial Team
Third Set of Life Tables to Be Put into Use on New Year's Day; Product Pricing to Become More Refined

On December 28, China's insurance industry released its third set of life tables, the China Life Insurance Industry Experience Life Tables (2010-2013), in Beijing. Yuan Xucheng, Director of the Life Insurance Supervision Department of the China Insurance Regulatory Commission (CIRC), attended the press conference and stated that life tables are the cornerstone and core infrastructure of the life insurance industry and will be widely used in product pricing, reserve valuation, cash value calculation, and other areas.

2016-12-28

Author：Editorial Team
Weather Index Insurance DIY Service Officially Launched

Weather Technology (Beijing) Co., Ltd. recently announced that it will work with Yian Insurance Company, Huize.com, and Huayi Insurance Agency to jointly launch a weather index insurance DIY service. Li Chang, founder and CEO of Weather Technology, explained that weather itself is a risk, and insurance is one of the most common tools for avoiding risk. Weather index insurance uses one or more meteorological elements as trigger conditions—for example, rainfall reaching the moderate-rain level. Once the trigger condition is met, regardless of whether the insured has actually suffered a disaster, the insurance company will pay insurance proceeds to the policyholder based on the meteorological element index.

2016-12-11

Author：Editorial Team
Shanghai Shipping Insurance Reform: Nation's First Maritime Preservation Liability Insurance Policy Issued

According to Labor Daily, yesterday morning the Shanghai Maritime Court and the Shanghai Insurance Regulatory Bureau jointly held a press conference to launch, for the first time nationwide, maritime litigation preservation liability insurance and a recommended model text for letters of guarantee, and to brief attendees on the two parties' major measures to cooperate in promoting reform and innovation in the shipping insurance industry and in serving the development of Shanghai as an international shipping center and an international financial center.

2016-10-14

Author：Editorial Team
Railway Travel Accident Insurance Sells an Average of 72,800 Policies Per Day

　　Yesterday, a Beijing Youth Daily reporter learned from China Railway Property & Casualty Captive Insurance Co., Ltd. (hereinafter referred to as the “Railway Insurance Company”) that since the nationwide railway introduced the optional “Railway Travel Accident Insurance” on November 1 last year, 7.7865 million policies had been sold as of February 15 this year, an average of 72,800 policies per day. However, compared with the millions of train tickets sold nationwide every day, the purchase rate of railway travel insurance remains relatively low.

2016-02-19

Author：Editorial Team
UK Offers Bitcoin Insurance Services

Lloyd's of London, in cooperation with London-based Elliptic Vault, has become the world's first insurer to underwrite bitcoin storage insurance services. Elliptic Vault hopes to provide clients with comprehensive bitcoin security through this service. The company has developed advanced “deep cold storage” technology to safeguard clients' bitcoins. Deep cold storage technology includes the use of strong encryption and secure physical storage locations.

2014-01-09

Author：Editorial Team

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