Alibaba and Tencent, through affiliates, are already providing small-scale digital insurance such as drone accidents and flight delays. Now, they are eyeying a new, largely untapped opportunity: life insurance for the hundreds of millions of uninsured Chinese individuals.
The industry has a big growth potential in China, especially among a younger generation of tech-savvy consumers By selling cheap insurance for cracked cellphone screens and return shipping costs on online purchases, a new breed of technology upstarts has shaken up the way general insurance is marketed in Asia. Now, companies that sell policies on mobile and internet platforms are targeting the largest and most technologically resistant part of the sector: the life-insurance industry. Chinese...
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