The Chinese insurance market has doubled in size the last six years and according to China Insurance Regulatory Commission (CIRC) it will grow on average 13% for the next four years; these growth numbers will allow for technology disrupters to enter the space and for the insurance market to be transformed; the market is split into three different segments, which include online delivery of traditional insurance, technological upgrades to products and new ecosystem oriented products from insurtech startups; though there is tremendous opportunity, the key question will be, do the state-owned enterprises and traditional insurers create their own tech or partner and absorb these new firms. Source