Size of the insurtech industry in China 2015-2022
In 2022, the size of the insurtech industry in China reached almost 74 billion yuan. According to the forecast, the online insurance market was projected to be valued at over 125 billion yuan by 2025. The idea behind insurtech is that innovation and new technology can increase the efficiency of the insurance industry. In China, established insurance companies, as well as startups, develop this business sector.