2017 is known as the "first year of artificial intelligence". According to Deloitte report, at present, the most extensive application of artificial intelligence + finance includes intelligent investment consulting, intelligent customer service and intelligent risk control. In 2016, the contribution rate of China's scientific and technological progress has reached 56.2%, not only AI. As the insurance industry pushes forward the supply side structural reform, scientific and technological innovation and application will play an increasingly important role. In recent years, with the rapid development of big data, cloud computing, Internet of things, artificial intelligence, block chain and other technologies, the insurance industry actively embraces insurance technology, accelerates the application of insurance technology, and has achieved phased results in various fields.
According to Willis Tower Waston data showed: the amount of global investment in InsurTech is around 2.2 billion dollars in 2017, 3.8 billion dollars in 2018, and over 1 billion dollars flowed into InsurTech Star-ups in the first and second quarter of 2019, above 9 million dollars for each investment, which indicated InsurTech start-ups are still dominant among the market. However, the investment trend was centralized into head market, especially B round and C round investment at record highs in the first quarter of 2019.
Since 2013, more than 150 Chinese insurance technology companies have received investment, and more than 200 investment institutions have entered the insurance sector. KPMG (KPMG China) report shows that "the strong investment pace shows no sign of relaxation in the first half of 2019", while insurance technology "continues to attract a lot of funds"; it also gives a view: with the decrease of financing amount of insurance technology companies in the early stage, the acquirers focus on building leaders in specific fields. To some extent, it means the unicorn will break its shell in the vertical field.
Under such a background, Asia InsurTech Development Forum 2020 (25-26, March | Shenzhen, China) will focus on the latest InsurTech technology application and explore the deep integration between insurance and technology combining the pain suffered by the transition period of insurers. The event’s topic is “Intelligent Industry and Ecosystem”, surrounding the business demands of “Build the Asia Multivariate InsurTech Ecosystem”, and invites the companies from Insurers/Reinsurers, Brokers, InsurTech Platforms, Artificial Intelligence (AI) Companies, Big Data Companies, Block Chain Companies, Companies from Internet of Things, Cloud Computing Companies, Network Security Technology Companies, Software Companies, other technology companies (unmanned driving, gene detection, biotechnology…), Financial Investment Companies, Consulting Companies, Payment Companies, Call Centre etc..