"2022 Insurance Technology Compliance and High-Quality Development Innovation Seminar" was recently held in Beijing. Yao Fei, party committee member and vice president of the Insurance Institute of China, proposed at the meeting that the current insurance industry is also facing multiple pressures in the transition process from high-speed development to high-quality development, and to further combine insurance technology with insurance business, summarize and reflect on lessons learned, guard the bottom line of compliance, and be empowered by science and technology to help the transformation of the insurance industry and high-quality development.
Yao Fei introduced, affected by the epidemic, in recent years, the industry's growth rate has continued to decline, the development is facing certain difficulties, but the long-term sustained positive fundamentals of the insurance industry has not changed, there is a lot of room for growth. Combined with changes in the internal and external environment, the insurance market has experienced the stages of recovery and development, rapid development and loosening of innovation, and the current insurance industry has entered a period of compliance and development. The insurance industry is also facing multiple pressures in the process of transformation from high-speed development to high-quality development, and needs to further integrate insurance technology with insurance business continuously, and reshape the core value chain, business model, and operation model of the insurance industry.
"Financial technology is the magic weapon for insurance organizations to stand out." Yao Fei believes that in recent years, a number of insurance companies have transformed their business strategies, using big data and artificial intelligence to promote the digital transformation and upgrading of insurance, and to promote the combination of online and offline business. With the rapid development of insurance technology, the digital transformation of insurance financial institutions has continued to advance, the application of products and tools has become increasingly rich, and the efficiency and inclusiveness of services have been significantly improved. In addition, regulators have continuously issued a number of policies to support the development of insurance technology, and modern insurance technology has become an important driving force for the reform of the financial and insurance industry. At the same time, in the process of development, we should summarize and reflect on the lessons learned in the past, to ensure that the future development of insurance technology is stable and far-reaching.
"Comply with the requirements of the era of compliance and high-quality development is the new challenge facing the insurance industry." Yao Fei said, strict supervision, heavy penalties has become an important regulatory feature of the industry market, how to keep the bottom line of compliance, so that the development and operation of insurance technology on a safe track is currently facing an important issue. In the investment, development and application of insurance technology, to make life better, more convenient, more secure as the starting point, adhere to the openness and inclusiveness **** win, technology-enabled, to help the insurance industry transformation and high-quality development.