"Full of confidence in the Chinese market" (witness·Chinese opportunity)
"The implementation of China's 14th Five-Year Plan and the 2035 long-term goal outline will further enhance the resilience of China's economy and provide historical opportunities for the development of the insurance industry." Chen Donghui, President of Swiss Re Group China, said in an interview with reporters. In the future, "China's economy is an important engine for the recovery and development of the global economy. The Chinese market will remain one of the fastest-growing insurance markets in the world, and Swiss Re has full confidence in the Chinese market."
Swiss Re is one of the first foreign reinsurance companies to enter the Chinese market.
In 1973, Swiss Re and the People's Insurance Company of China signed the first reinsurance contract after the founding of New China.
Chen Donghui said that as a witness of China's reform and opening up and a participant in the development of the industry, Swiss Re has been keeping up with the changes in the Chinese market.
In recent years, the Chinese government has continued to increase the reform and opening up of the financial industry, including the insurance industry.
The Chinese government has clear policy objectives and efficient actions to ensure equal participation of various market players in market competition, which has greatly promoted the development of related industries.
"Currently, the global epidemic prevention and control situation is still severe, and various risks will still bring uncertainty to economic development and people's lives." Chen Donghui said that in recent years, Swiss Re has cooperated with many local governments in China to try out catastrophes. Risk innovative solutions.
For example, in Heilongjiang, in cooperation with the local government, China’s first agricultural catastrophe index insurance was launched. By using satellite radar remote sensing index, standardized precipitation evaporation index, low temperature index, excessive precipitation index, etc., it covered 28 counties in Heilongjiang Province due to basin-type flooding. Provide insurance for losses caused by natural disasters such as drought, low temperature and excessive precipitation.
The Chinese government has proposed clear paths and measures to comprehensively promote rural revitalization, and established a monitoring and assistance mechanism for preventing return to poverty.
Chen Donghui said that the insurance industry can play an active role in related areas.
Take the company's "Xinrui Smart Agriculture" platform developed for the Chinese agricultural market as an example. Based on agricultural big data such as remote sensing, meteorology, agricultural conditions and agricultural losses, the platform can realize the automated development of weather index products and real-time compensation calculations. , Provide agricultural risk maps.
As of the end of 2020, the domestic insurance industry has developed more than 100 products through this platform, improving product development efficiency by 90% and saving costs by 10% to 15%.
Chen Donghui said that the "14th Five-Year Plan" and the 2035 long-term goal outline mentioned the insurance industry in many places, including agricultural insurance, catastrophe insurance, social insurance public service platform, multi-pillar pension insurance system, etc., which will further lead the insurance industry. Quality development.
"I believe that insurance companies from various countries will have broader business development opportunities in China."
(Brussels from this newspaper)
Niu Ruifei, our correspondent in Belgium