China’s Online Insurance Sales Near $13B USD In H1 2015

Internet is transforming the way insurance is sold in China.

The country’s online insurance premium has hit 81.6 billion RMB ($12.75 billion USD) in the first half of this year, on par with the 85.89 billion RMB ($13.24 billion USD) annual premium incomes achieved in 2014, according to data released by Insurance Association of China.

Of the total amount, premiums from property insurance policies sold online surged 69% YOY to 36.32 billion RMB, accounting for 8.5% of the total premiums for property insurance. Those from life insurance rose by 343.4% to 45.28 billion RMB, representing 3.5% of the total life insurance sales.

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