Farming accounts for 40% of China’s workforce – yet agricultural insurance accounts for just 0.6% of non-life premiums. This month’s China in Focus investigates the InsurTech and AgriTech efforts set to transform rural China.
From natural catastrophe management to crop insurance distribution, we consider how InsurTechs and state owned insurers are developing predominantly mobile based solutions for this hitherto untapped market.
And Swiss Re, in thought leadership, looks more closely at available livestock insurance in a country where epidemic disease outbreaks kill and harm animals, while financially devastating ill-prepared farmers.
In interview we speak with Tony Compton who is currently advising several InsurTechs in Shanghai and London. Tony was previously managing director of Mapfre China and a partner with KPMG’s insurance consulting division on mainland China.
Finally we look at drone use in AgriTech and roundup some of the latest China and global digital insurance developments.