Cutting-edge technology expenses of insurance companies in China 2020-2024, by type

Published by
Daniel Slotta,
Sep 22, 2023
The Chinese insurance industry is undergoing a transformative process with established enterprises and startups fighting for market shares in the online business and streamlining business operations. In 2020, insurance companies spent over three billion yuan on AI technology. Insurtech companies use artificial intelligence to determine the individual risk assessment of customers to make pricing more efficient and personalized.

Value of insurance companies' expenses on cutting-edge technologies in China in 2020 with a forecast until 2024 (in billion yuan)

© Statista 2024
Download
Show detailed source information?
Register for free
Already a member?
Log in
Sources

Use Ask Statista Research Service

Release date

December 2021

Region

China

Survey time period

2020

Supplementary notes

*Estimate.

One yuan equals to 0.16 U.S. dollars and 0.14 euros (As of April 2022).

Other technologies include: Privacy-preserving computation, data management, DevOps, Low-code development platform, 5G technology

Citation formats
Access all statistics starting from $2,388 USD yearly *

* For commercial use only

Basic Account

For single users
$0 USD
Always free
Access limited to Free Statistics. Premium Statistics are not included.
  • Free Statistics
Based on your interests

Starter Account

For single users
$199 USD
per month, billed annually 1
Buy now
  • Free Statistics
  • Premium Statistics

    • The statistic on this page is a Premium Statistic and is included in this account.

Professional Account

For teams of up to 5 people
$959 USD
per month, billed annually 1
Buy now
  • Free + Premium Statistics
  • Reports
  • Market Insights

1 All prices do not include sales tax. The account requires an annual contract and will renew after one year to the regular list price.

Compare accounts

Statistics on " Fintech in Latin America "

The most important statistics
The most important statistics
The most important statistics
The most important statistics
The most important statistics
The most important statistics
The most important statistics
The most important statistics

Other statistics that may interest you Fintech in Latin America

Overview

6

Fintech ecosystem

4

Investment landscape

5

Online and mobile banking

7

Digital payments

4

Leading companies

6

Leading company highlight - Nubank

5

Customer opinion

5

Further related statistics

10

Further Content: You might find this interesting as well

Statistics

Topics

Fintech in ColombiaSocial media usage in Latin AmericaMobile payments with digital walletsAdvertising in Latin AmericaFintech in Germany
Access all statistics starting from $2,388 USD yearly *

* For commercial use only

Basic Account

For single users
$0 USD
Always free
Access limited to Free Statistics. Premium Statistics are not included.
  • Free Statistics
Based on your interests

Starter Account

For single users
$199 USD
per month, billed annually 1
Buy now
  • Free Statistics
  • Premium Statistics

    • The statistic on this page is a Premium Statistic and is included in this account.

Professional Account

For teams of up to 5 people
$959 USD
per month, billed annually 1
Buy now
  • Free + Premium Statistics
  • Reports
  • Market Insights

1 All prices do not include sales tax. The account requires an annual contract and will renew after one year to the regular list price.

Compare accounts
Learn more about how Statista can support your business.