New Internet Insurance Regulations: Using Blockchain and Other New Technologies to Build a Digital Ecosystem for the Insurance Industry

The China Banking Regulatory Commission started issuing the "Internet Insurance Business Supervision Measures (Draft for Solicitation of Comments)" to some insurance and banking institutions. The "Draft for Comments" states that insurance institutions should actively use new technologies such as the Internet, big data, artificial intelligence, and blockchain to explore Internet insurance business innovation, service innovation, and improve insurance operations on the premise of controllable risks and secure isolation Efficiency, improve the insurance consumption experience, and build a digital ecosystem for the development of Internet insurance business and the application of insurance technology from the development and sales of insurance products to customer service, risk management and asset management.