ISSN 2409-7616

Xiaohe Xie



Xiaohe Xie – Graduate student, Department of Risk Management and Insurance, Saint Petersburg State University Faculty of Economics, Saint Petersburg, Russian Federation, E-mail:

Abstract. The comprehensive opening of the Chinese financial market on April 1, 2020 attracted great attention from global financial companies. This second largest economy in the world provides a broad market space for multinational financial and insurance companies. As the main financial industry, the insurance industry plays an important role in promoting the development of the national economy. The development of the digital economy of China has given a new impetus to the development of the insurance industry, the study of its development model can give experience in building insurance markets in other countries, analyze the development characteristics and development conditions of mobile Internet insurance in the digital economy. Russian insurance companies are actively introducing digital technologies into risk management systems, using automation tools in financial management, identifying new trends and creating conditions for future growth of the industry. New directions in the development of the insurance industry include investments not only in management, but also in the development of human capital, intelligent business information management systems, as well as in the formation of a new level of professional competencies. Such trends contribute to the formation of new trends in the labor market. Chinese insurance companies will inevitably adopt a similar development method, which is also a necessary strategic measure for insurance companies to adapt to economic transformation and the development of the digital economy. The author believes that, as advanced companies enter the Chinese market, problems such as technology and capital that limit the development of Chinese Internet insurance will be addressed, which can help Chinese insurance companies reduce operating costs and improve service quality, increase competitiveness insurance companies and trends in the digital economy. Chinese Internet insurance will become China’s leading insurance industry. The study uses scientific literature to analyze the history of the creation of the Internet insurance market in China, analyzes the changes in the insurance market and the existing problems caused by the digital economy of China, and concludes that the development of digital economic Internet insurance is the future direction of the Chinese insurance industry.

Keywords: insurance, insurance market, digital technology, China’s insurance industry.



  1. Hua Zhou, Wenjin Liu, Liang Wang,Systemic Risk of China’s Financial System (2007–2018): A Comparison between DCoVaR, MES and SRISK across Banks, Insurance and Securities Firms. The Chinese economy, 2020, vol. 53, no. 3, 221–245. DOL:
  2. Gavrilina N. E., Derbeneva E. N. Fundamentals of finance and credit. Rostov-on-Don, Phoenix, 2010, 224 p. (In Russian)
  3. Kiesenbauer D. Main Determinants of lapse in the German life insurance industry. North American actuarial journal. vol. 16, no.1, pp.69.
  4. Bykova N. N. Еssence of insurance and mechanism for the realization of property insurance at the modern stage. Bulletin of the NIIEI, 2016, vol. 65,  12, pp. 139-144. (In Russian)URL:
  5. Redkina A. A., Grebenik V. Bulletin of Eurasian Science. The Eurasian Scientific Journal, 2018, vol.10, no 3, 34. (In Russian)URL:
  6. Ren Xiaocong, He Jun. My country’s Internet insurance has entered a period of comprehensive development: main obstacles and countermeasures. South China Finance,  2016,  no, 7, pp. 78-82.
  7. Evseev E.E., Talalayev A.K., Proskuryakov N.E., Zavalishin P.E.. Marking system of electronic media insurance fund of documentaion. Technical science, 2014, 11 – 2, pp. 406-411. (In Russian) URL:
  8. Safina L.M., Smolyanitsky K.S., Astashkin S.S. Prospects for the development of electronic insurance in the Russian Federation for 2018-2020. Yoshkar – Ola, 2018, pp. (In Russian) URL:
  9. Yingjun Huang. Research on the Changes and Path Selection of Internet Insurance Development in China. Insurance Theory & Practice. 2017, no. 2, 61-80.
  10. Shucai Ma, Haitao Qin. Reflections on the development o f my country’s Internet insurance industry. Accounting Monthly. 2017, no. 2, 119-123.
  11. Vdovina O. A., Kuvshinnikova S. Technologies of working with the personnel of the insurance company. Education and science in the modern world. Innovation, 2018, no. 6(19), pp. 80-87. (In Russian) URL:
  12. Goncharov M.M. Application of new technologies and the development of digitalization of insurance business. Science and education: economy and economics; entrepreneurship; law and administration. 2018, no. 12 (103). pp. 51-53. (In Russian)URL:
  13. Solovyova N.E., Bykanova N.I., Melnikova N.S. Directions of development of corporate insurance in the insurance services market. Scientific reports of Belgorod State University. Series: Economics. Computer science, 2017, vol. 43, n 4 (42), pp. 38-47. (In Russian) URL:
  14. Zhu Jianqi, Ou Yuhan. Innovation and Development of China’s Internet Insurance Products. Exploration of Financial Theory, 2018, no. 3, 65-71. URL:
  15. Ya Wang. Research on the Protection of Internet Insurance Consumer Rights. Chengdu, Sichuan Normal University, 2019, pp. 23. URL:
  16. Hui Xue, Zhao Xinmeng. Integrity Problems and Countermeasures in Internet Insurance: Based on the Perspective of Maximum Integrity Principle. Journal of Changchun Financial College, 2019, no. pp. 66-72.
  17. Kuznetsova N. Property insurance of business: problems and prospects of development. Business. Education. Right, 2018, no. 4(45), pp. 145-149. (In Russian) URL:
  18. Lyapin A. Insurance market players believe in growth: what trends await the industry. 2018. 11 July. Available at: (accessed 20 April 2020)
  19. China Insurance Industry Association discloses business data for the internet property insurance market in the first half of 2019. Available at: (accessed 20 April 2020)
  20. Qiu Quanjun, Wang Dan, Risk Analysis of Internet Insurance Insurance – Based on Consumer Rights Protection. Financical Theory & Practice, 2020, vol. 489, no.4,45. URL:
  21. Ma Xiangdong. Development and prospect of smart insurance. China Insurance, 2018, no.11, 39. URL:
  22. Rozhkov R. Online trading is waiting for acceleration. Kommersant. Available at: (accessed 20 April 2020)
  23. Zhao Bin. Impact of the State Council’s “Guiding Opinions on Platform Economic Development” on Internet Insurance Regulatory Policies. Journal of Insurance Vocational College, 2019, 12, pp. 12-15. URL:
  24. Wu Xudong. Analysis on Application of Artificial Intelligence Technology in China Post Insurance. Postal research, 2018, no. 2, pp. 12-16. URL:
  25. Andreeva L.Yu., Dzhemayev O.T. The impact of the digital economy on the formation of new trends in the Russian labor market. state and municipal government. SCAGS Scientific Notes, 2017, no. 3, 25-32. (In Russian)URL:


For citation:

Xiaohe Xie, China internet insurance in the era of digital economy. CITISE, 2020, no. 2, pp. 406-418. DOI: