China InsurTech Market Outlook 2031

The China insurtech market is anticipated to grow with a CAGR of 36.88% over the forecast period, i.e., 2022-2031. Factors such as increasing use of smartphones followed by high investments in digital transformation are projected to drive the growth of the market in the coming years. Additionally, rapid growth in internet user and also growing traditional & online insurers are expected to boost the growth of the market. The market is estimated to garner a revenue of near to USD 4,700 Billion by the end of 2031, up from a revenue of about USD 200 Billion in the year 2021.

The China insurtech market is segmented into numerous segments, which include segmentation by component, product, technology, and by end-use industry. By technology, the market is segmented into blockchain, cloud computing, IoT, and others. By the end of 2031, the big data & machine learning segment is anticipated to garner the largest revenue of around USD 1,400 Billion, up from a revenue of close to USD 60 Billion in the year 2021.

Some of the prominent industry leaders in the China insurtech market that are included in our report are China Pacific Insurance Co., Ping An Insurance (Group) Company of China, Ltd., People’s Insurance Company of China, Zhongan Insurance, Yi’an Property Insurance Co., Ltd., Pintec Technology Holdings Ltd., China Continent Insurance, New China Life Insurance Co., Ltd., Huize Insurance Network All, China Taiping Insurance (HK) Company Limited, and others.