According to a survey conducted in the fourth quarter of 2020 in China, 19 percent of respondents thought the availability and compliance of data to be one of the greatest challenges for the cooperation between insurance and FinTech companies. Likewise, differences in business models were seen as another challenge, with 15 percent of respondents agreeing.
Main challenges in cooperation between insurance and FinTech companies in China in 4th quarter of 2020
among traditional financial institutions and FinTech companies
Method of interview
Questionnaire
Supplementary notes
Original question: What are the main challenges in cooperation
between Insurance companies and FinTech companies?
According to the source, the distribution of respondents is as follows: Commercial banks 33%, insurance companies 33%, greater asset management 18%, FHC 8%, FinTech companies 6%.
Among the 'greater asset management companies' are respondents from: sub-verticals of wealth management subsidiary of banks, insurance asset
management companies, securities firms, fund management companies and trusts.
Consumer finance companies, financial leasing companies, clearing institutions, financial business departments of large-scale enterprises etc. belonging to 'other institutions'.
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PwC. (March 31, 2021). Main challenges in cooperation between insurance and FinTech companies in China in 4th quarter of 2020 [Graph]. In Statista. Retrieved November 01, 2024, from https://www.statista.com/statistics/1262302/china-cooperation-challenges-between-insurances-and-fintech-companies/
PwC. "Main challenges in cooperation between insurance and FinTech companies in China in 4th quarter of 2020." Chart. March 31, 2021. Statista. Accessed November 01, 2024. https://www.statista.com/statistics/1262302/china-cooperation-challenges-between-insurances-and-fintech-companies/
PwC. (2021). Main challenges in cooperation between insurance and FinTech companies in China in 4th quarter of 2020. Statista. Statista Inc.. Accessed: November 01, 2024. https://www.statista.com/statistics/1262302/china-cooperation-challenges-between-insurances-and-fintech-companies/
PwC. "Main Challenges in Cooperation between Insurance and Fintech Companies in China in 4th Quarter of 2020." Statista, Statista Inc., 31 Mar 2021, https://www.statista.com/statistics/1262302/china-cooperation-challenges-between-insurances-and-fintech-companies/
PwC, Main challenges in cooperation between insurance and FinTech companies in China in 4th quarter of 2020 Statista, https://www.statista.com/statistics/1262302/china-cooperation-challenges-between-insurances-and-fintech-companies/ (last visited November 01, 2024)
Main challenges in cooperation between insurance and FinTech companies in China in 4th quarter of 2020 [Graph], PwC, March 31, 2021. [Online]. Available: https://www.statista.com/statistics/1262302/china-cooperation-challenges-between-insurances-and-fintech-companies/
