MODERN DIGITAL TECHNOLOGY IN CHINA’S INSURANCE INDUSTRY

Abstract

The relevance of the study is due to the fact that the digital economy has become an important strategic development direction of the People’s Republic of China, and it is also a new engine of economic growth. This article uses case analysis and comparative analysis to prove the positive impact of digital technology on China’s insurance industry and promote the rapid development of China’s insurance industry. The article also proves that the development level of the insurance industry is regional, and there are regional differences in the development of the modern insurance industry, which is consistent with regional economic development. The article aims to identify the impact of digital technologies on the development of the insurance industry in China at the present stage. The research objectives are to analyze the following aspects of the topic under study: the general trend in China’s modern digital technology in the 21st century; the digital technology influence on the rapid development of China’s insurance industry; the cloud computing technology development in the insurance industry; the role of artificial intelligence technology in the rapid development of China’s insurance industry. The research result of this article is that digital technology has promoted and accelerated the rapid development of China’s insurance industry. Digitization has brought China’s insurance industry into a digital phase of comprehensive development. In this phase, China’s insurance industry is facing major opportunities and challenges