Insurance

Solutions

Insurance

Overview

Explore content

The continued pace of economic and social development experienced over the past decades throughout China has equally been reflected in the steady growth and development of China’s insurance sector. Domestic insurers have risen to the challenge to develop expertise, product coverage and distribution processes that in many respects represent leading practices from across the globe, and are now increasingly looking for both investment and expansion opportunities across the globe. Although the domestic insurance industry, if measured by standards such as insurance density or insurance penetration rate, would appear under-developed, almost all global commentators would agree that that the Chinese insurance has huge growth and expansion potential.

As one of the recognized leaders in providing professional services, Deloitte professionals are working with our insurance clients to develop and implement market leading strategies, technical and business oriented solutions – we provide customized services drawn from our vast array of actuarial, audit, taxation, risk compliance, regulatory and business transformation services. We focus our efforts at helping our clients combine the power of their people, their technology and their processes to lead in their markets. Our clients include the majority of state and privately owned insurance companies and a large number of the foreign banks and insurers operating in the Mainland and Hong Kong/Macau SAR.

Supported by the Deloitte Global FSI network with strong local presence deeply rooted in China, our insurance teams are industry seasoned professionals who bring industry experience and knowledge combined with functional expertise to help address the complexity that today's financial institutions face.

Featured publications

  • Keys to success: Right strategies and partners
    This paper highlights the existing challenges and opportunities in the Chinese healthcare ecosystem, in which the market is highly regulated and dominated by large, local insurance players.
  • Double your intelligence: Using intelligent automation to double productivity in Finance
    Intelligent automation presents opportunities for Finance functions within financial services institutions to deliver information and value to the business more quickly, more accurately and at the lower cost.
  • Opportunities and challenges to foreign institutions as Chinese financial industry opens further
    Deloitte believes that financial institutions in China need to solve two key issues to secure success amid the increasingly fierce competition: effective compliance to enter the market and the right strategy for local market. 
  • Global IFRS Insurance Survey 2018
    The 2018 Global IFRS Insurance Survey aims to provide a comprehensive and independent overview of how global insurers are reacting to and preparing for IFRS 17 adoption.
  • Analysis of China's compulsory third-party liability insurance market in 2018
    This report analyses the current compulsory third-party liability (CTPL) insurance market in China. It analyses the CTPL industry from various perspectives and also identifies underlying patterns and disparities between companies' performance.
  • Trends in trade finance regulation / Dealing better with anti-money-laundering
    There are three new methods to more efficiently deal with all the new regulations on money laundering, terrorist financing and sanctions and Ivan Zasarsky, partner at Deloitte's Asia Pacific Financial Crime Strategy & Response Centre outlines further details in the feature article in the International Chamber of Commerce publication.
  • Driving to a new growth? How tech-led digital transformation is reshaping the auto insurance battlefield
    This paper highlights how transformational forces pushed by innovative technology, such as new entrants like InsurTech and self-driving cars, are bringing price transparency and innovative products to the market.
  • Collaboration vs. competition: Unlocking the power of blockchain in insurance
    This paper explains why insurance companies that apply new technologies - also known as FinTech or InsurTech - are not disruptive but collaborative for better business value creation. It recommends insurers to strategize, experiment, and develop proofs of concept to leverage blockchain technology and create next-generation products and services that feature greater interaction with their policyholders, whilst driving business growth and maximizing new opportunities through cross-sector collaborations, such as bancassurance and reinsurance.
  • Tailwinds or Headwinds? Using digital technology to empower your traditional insurance workforce
    This paper explores how RPA will impact Hong Kong insurers' existing workforce, and support them in making broader changes to their talent management and operation strategies in order to realize substantial benefits, ranging from efficiency and quality enhancement to risk mitigation, innovation, and ultimately, growth.
  • Insurer of the Future: Technology is shaping the future of underwriting
    Watch our video to understand how technologies can help insurers better evaluate risks, and tailor products to meet changing customer demands. By embracing digital technologies, underwriters can offload administrative tasks, and focus on strategic, complex risks where expert advice is needed.
  • 2018 Insurance M&A Outlook: The deal landscape continues to evolve
    This report examines the trends and challenges insurance executives should consider as they plan their M&A strategy for 2018 and beyond.
  • Facing the future: an evolving landscape - Financial Services Regulatory Outlook 2018 
    With the finalisation of Basel III, the regulatory agenda in Asia Pacific will now become firmly focused on the future. This paper sets out the top ten regulatory themes that the Deloitte Centre for Regulatory Strategy expects to dominate the financial services regulatory agenda in the region over the coming year. 
  • Beyond Fintech: A pragmatic assessment of disruptive potential in financial services 
    The World Economic Forum and Deloitte Global’s latest report studies the transformative role of fintech and other disruptive forces on the financial services industry. The report studies the impact of this disruption on the industry as a whole, as well as on seven sectors including payments, digital banking, lending, insurance, market infrastructure, investment management, and equity crowdfunding. Fintechs have defined the direction, shape, and pace of change across almost every financial services subsector. While they may not dominate the industry today, they have laid the foundation for future disruption.
  • Beyond Fintech: Disruptive innovation in insurance
    A rise in the number of insurtechs coupled with external forces is fragmenting insurance value chains, thereby encouraging insurers to seek new partnerships and invest in innovation. Evolving purchasing patterns are forcing insurers to offer flexible, customizable range of products. With the rise of connected insurance and a constant need to monitor customer risk, insurers are challenged to be more proactive than ever.
  • 2018 Insurance Industry Outlook: Shifting strategies to compete in a cutting-edge future
    As technology innovation, higher customer expectations and disruptive newcomers redefine the marketplace, insurers remain focused on growing top-line sales, bottom-line profitability, addressing challenges, and competing in a dynamic industry. Deloitte’s 2018 Insurance Industry Outlook pinpoints key opportunities and threats that should demand attention from insurers over the next 12-to-18 months.