In this edition of China in Focus, in partnership with iptiQ by Swiss Re,
we ask whether Western insurers can succeed in China.
Life for a foreign insurer in China has not been easy. Strong local competition, the need to localise business models, and a lack of training & development initiatives have constrained their growth. Until recently, there were also restrictions across ownership structures, geographic expansion, product approval, and investments which prevented foreign insurers from scaling up in China.
And although this market has been historically dominated by joint ventures (JVs), many local Chinese companies that invested in JVs have been equally disappointed with their investment as their foreign counterparts. Read the full article to learn how Manulife, Axa, and AIG have have overcome these challenges.
We also hear from Yamin Zhu, CEO of Axa Tianping, directly in our CEO interview, about how Axa is adapting to the rapidly changing Chinese market.
Additionally in this edition there are research decks and video analysis of InsurTechs Causacloud, and Carevoice.
Enjoy the edition!