Green Technological Innovation Fueling Competitive Edge in China's Insurance Industry

Abstract

This study delves into the transformative impact of green technological innovation within China's insurance industry, examining its role in enhancing competitiveness and promoting sustainability. The global insurance landscape is increasingly shaped by climate-related risks, necessitating the adoption of advanced technological solutions. Leveraging comprehensive thematic analysis of qualitative data from interviews and document analysis, this research uncovers the multifaceted benefits that green technological innovation provides to insurers. Interviews with key stakeholders, including top-level executives and sustainability officers, reveal that these innovations reduce operational costs, attract environmentally conscious customers, and enhance resilience to climate-related challenges. Moreover, the regulatory environment, as indicated by previous studies, plays a pivotal role in incentivizing insurers to invest in green technologies. These findings align with China's broader commitment to sustainability, positioning insurance companies as financial intermediaries actively contributing to green projects and the nation's transition to a low-carbon economy. Ultimately, this study underscores how green technological innovation empowers China's insurance sector to navigate a rapidly changing landscape, enhance competitiveness, and advance sustainability goals, while reinforcing insurers' societal relevance and trustworthiness.