Insurtech 'helps improve financial inclusion'

The digitalization of insurance industry has accelerated since the outbreak of COVID-19, and insurance and technology have been further integrated, which helps promote the development of inclusive finance, an industry official said in Shanghai on Thursday.

The insurance industry has been gradually shifting to identify and disperse risks from the statistical analysis of historical data to using big data modeling, said Wang Yuxiang, vice president of the Insurance Association of China, at an event held by ZhongAn Online P&C Insurance.