This afternoon, the China Insurance Regulatory Commission (CIRC) held a press conference to present the operating performance of the insurance industry in 2017. In terms of internet insurance, the application of insurance technology is becoming increasingly widespread, and innovative businesses are developing rapidly.

　　Investment in insurance technology has been increasing, with cutting-edge technologies such as big data, artificial intelligence, blockchain, mobile internet, and the Internet of Things widely applied in product innovation, insurance marketing, and internal company management. Relying on the rapid substitution of internet insurance for certain standardized traditional insurance products and the incremental market created by scenario-based innovative products, innovative internet insurance business maintained rapid growth.

　　In 2017, the number of internet insurance policies issued reached 12.491 billion, an increase of 102.60%, of which return shipping insurance accounted for 6.819 billion policies, up 51.91%; guarantee insurance 1.661 billion policies, up 107.45%; accident insurance 1.592 billion policies, up 539.26%; and liability insurance 1.032 billion policies, up 438.25%.

Source: China Insurance Regulatory Commission (CIRC) 2018-01-22