Analysis of the current situation of the insurance industry, the development status and trend of the

— The following data and analysis are from Qianzhan Industry Research InstituteAnalysis Report on Market Prospect and Investment Planning of China's Insurance Industry.

The industry's premium income is gradually recovering

In recent years, with the gradual deepening of residents' awareness of health and property risk prevention, and the continuous innovation of insurance products, the development of the industry has also entered a new track. According to the data of the China Banking and Insurance Regulatory Commission, from 2015 to 2019, the premium income of China's insurance industry increased year by year, of which the premium income in 2019 reached 4,264.5 billion yuan, a year-on-year increase. In the first half of 2020, China's premium income reached 2,718.6 billion yuan, a year-on-year increase.

Judging from the monthly premium data, in February 2020, due to the impact of the Spring Festival and the new crown pneumonia, its premium income showed negative growth; After March, the insurance industry began to recover gradually, mainly due to the increase in residents' awareness of health risks due to the epidemic, which increased the demand for insurance. After April, the domestic epidemic situation gradually stabilized, and the full resumption of work and production began, and the insurance industry began to stabilize, with the premium growth rate maintaining more than 10%.

The pandemic has accelerated the conversion rate of online insurance

With the vigorous development of the Internet, the insurance industry continues to innovate sales channels, and insurance companies are actively developing new insurance products, and actively adjusting and standardizing their development according to regulatory requirements. According to the Insurance Association of China, China's Internet insurance premium income reached 100 million yuan in 2019, accounting for the total premium of the industry, an increase from 2018.

Note: The outer ring is 2019 and the inner ring is 2018.

Combined with the analysis of the epidemic situation, according to the "18 Findings of China's Insurance Demand in the Post-Epidemic Period" released by Fudan University and Tencent WeInsurance, before the epidemic in 2020, the conversion rate of Internet insurance increased by 73% on average compared with the same period last year; During the pandemic, the conversion rate of online insurance increased by an average of 232% compared to the same period last year. It is foreseeable that the epidemic will continue to promote the transfer of insurance from offline business to online business, and promote the rapid development of the Internet insurance industry.

The integration of online and offline business in the insurance industry will become the general trend

However, after the epidemic, the consumer behavior of the insurance industry will gradually move online, mainly due to the small contact and convenience of online transactions, but it is worth noting that the transformation of the transaction mode of the insurance industry to online does not mean that this gives up offline resources, but to promote the integration of offline and online resources, and simplify the process of insurance sales and claims. Provide higher service to customers. Finally, with the rapid development of China's Internet, 5G and other technologies, insurance companies will continue to deploy data-based operations to improve operational efficiency.

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1. The premium income continues to be high, and the growth rate is gradually slowing down

From the perspective of the premium income of property insurance companies, the premium income increased from 100 million yuan in 2010 to 90.1 billion yuan in 2020, with a compound annual growth rate, of which the growth rate of property insurance insurance premium income reached the highest value in recent years in 2018, and then the growth rate decreased year by year.

2. The market share has increased rapidly

From the perspective of the proportion of liability insurance premiums in the overall premium income of property insurance companies, from 2010 to 2020, the proportion of liability insurance premium income increased year by year, but the proportion was still at a low level. In 2020, the original insurance premium income of property insurance companies totaled 1,358.4 billion yuan, of which liability insurance premium income accounted for the proportion.

3. Compensation expenses have risen

From the perspective of liability insurance claims and payments of property insurance companies, from 2010 to 2019, the compensation of liability insurance increased from 4.4 billion yuan to 100 million yuan, with an average annual compound growth rate. According to the preliminary estimation of the proportion of liability insurance claims in the total claims and benefits of property insurance companies, the liability insurance claims of property insurance companies in 2020 will be about 37 billion yuan.

Note: The China Banking and Insurance Regulatory Commission (CBIRC) and the National Bureau of Statistics (NBS) have not yet released the 2020 property insurance liability insurance compensation and payment data.

4. The number of insurance policies has increased, and the growth rate has decreased

From the perspective of the number of policies, from 2017 to 2020, the number of liability insurance policies increased year by year, with an average annual compound growth rate. In 2020, the number of liability insurance policies was 100 million, accounting for the total number of policies of property insurance companies.

5. The amount of risk insurance is **, and the growth rate is decreasing

From the perspective of risk insurance amount, from 2017 to 2020, the amount of liability insurance insurance increased year by year, with a growth rate of more than 70%, with a rapid growth rate. In 2020, the amount of liability insurance risk protection was one trillion yuan, accounting for the overall insured amount of property insurance companies.

In recent years, the world insurance industry has developed rapidly, and premium income has risen from trillions in 2016 to trillions of dollars in 2020. The insurance density increased from US$387 in 1999 to about US$687 in 2020. However, there is still a big gap between the development of China's insurance market and the rest of the world, showing a huge potential market space.

Further information: 1. Global premium income is growing at a low rate In 2020, due to the impact of the new crown epidemic, global premium income is expected to decrease Allianz Group estimates), compared with the pre-pandemic trend, about 360 billion euros of premiums will disappear. Most markets will recover in 2021 and global premium growth will stabilize over the next 10 years, while Asia (excluding Japan) will be, as the largest insurance market in Asia, the average growth rate of China's insurance market is expected to reach, 2, Note:

The data for 2020 is based on the slowdown calculation released by Allianz Group. The position of the global insurance industry in the financial industry has risen rapidly From 2018 to 2019, the position of the world insurance industry in the financial industry has risen rapidly, and in the fourth quarter of 2019, the global insurance market accounted for a high proportion of the entire financial industry. On the other hand, in China, in the third quarter of 2020, the proportion of the insurance industry in the financial industry was only large, far from the world level, and the insurance industry has a lot of room for development in China's financial system.

3. The level of global insurance business has risen, and China is far behind From the perspective of insurance depth, the gap between China's insurance depth and the global average premium income has been narrowing from 2011 to 2017, and the gap has been expanding since 2017, and by 2020, China's insurance depth is expected to be around the world's insurance depth. There is still a 64% gap between China and the rest of the world in terms of insurance depth.

4. Note: Insurance depth = total GDP of original insurance premium income, and the global insurance depth in 2020 is ** data. In terms of insurance depth, in 2019, Taiwan Province of China was the highest, up to; followed by Hong Kong, China, with an insurance depth of being; South America for; In Asia, Japan's insurance depth is 9%, the world's average insurance depth is, and China's insurance depth is only.

It can be seen that in terms of insurance depth, China has a staggering gap compared with developed countries.

Major brands in the insurance industry:The total premium income of China's insurance industry, the structure of China's premium income, the depth of China's insurance, and the density of insurance coverage.

Ranked second in the world in terms of premium income

In the past 15 years, the total premium income of China's insurance industry has generally shown an upward trend, and the promulgation of the "National Ten Measures" in 2006 and 2014 and the "New National Ten Measures" in 2014 has promoted the rapid growth of the insurance industry. In 2021, under the background of the new crown epidemic and the comprehensive reform of motor insurance, the trend of increasing the original premium income year by year was broken, and the total annual premium income was 4.49 trillion yuan, a year-on-year decrease of 35.7 billion yuan.

Since 2017, China's premium income surpassed Japan's, China has occupied the position of the world's second premium market for five consecutive years, and is gradually opening up the distance from Japan, although there is still a large gap with the United States, which ranks first, but China has become the backbone of the world insurance market.

Note: Some countries and Quiyan District have not yet released 2021 premium income data.

There is an imbalance in the income structure

From the perspective of premium income structure, in 2021, China's life insurance premium income will be 3,322.9 billion yuan, accounting for 74%, and property insurance premium income will be 1,167.1 billion yuan, accounting for 26%.

There is still room for growth in insurance density and insurance depth

Since 2010, China's insurance density has grown rapidly, and the gap between China's insurance density and the global average insurance density has been narrowing. In 2021, China's insurance density was US$520, compared to the global average of US$661.

In the past five years, the global average insurance depth has generally shown a slight and steady downward trend, while China's insurance depth has also shown a fluctuating downward trend, and the gap has not narrowed compared with the global average. In 2021, China's insurance depth is the global average insurance depth, while the insurance depth of developed countries such as the United States and the United Kingdom remains above 10%, and China's insurance depth still has a lot of room for growth.

The above data refers to the Prospective Industry Research Institute's "Key RoyalAnalysis Report on Market Prospect and Investment Planning of China's Insurance Industry.

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In the past 15 years, the total premium income of China's insurance industry has generally shown an upward trend, including the introduction of the "National Ten Articles" in the insurance industry in 2006 and 2014 and the "New National Ten Articles" in 2014 to promote the rapid growth of the insurance industry. <>

Current Situation and Trends of China's Insurance Industry.

Dear, we're answering your <>

In the past 15 years, the total premium income of China's insurance industry has generally shown an upward trend, including the introduction of the "National Ten Articles" in the insurance industry in 2006 and 2014 and the "New National Ten Articles" in 2014 to promote the rapid growth of the insurance industry. <>

In 2021, in the context of the comprehensive reform of YQ and auto insurance, the trend of increasing the original premium income year by year was broken, and the total annual premium income was 4.49 trillion yuan, a year-on-year decrease of 35.7 billion yuan. From the perspective of premium income structure, in 2021, China's life insurance premium income will be 3,322.9 billion yuan, accounting for 74%, and property insurance premium income will be 1,167.1 billion yuan, accounting for 26%. <>