China Insurance Asset Management Association Cao Deyun: The application of new technologies such as blockchain has become a new opportunity for insurance institutions to break through in fierce market competition.

On May 25, Cao Deyun, executive vice president and secretary general of China Insurance Asset Management Association, said that the application of new technologies represented by artificial intelligence, cloud computing, big data and blockchain has become an intense insurance asset management institution. New opportunities for breakthrough in market competition. In terms of investment operations, with the diversification and specialization of product forms, in order to respond to the rapid changes in the market environment and customer needs in a timely manner, a powerful system is needed to support the rapid iteration of products and business systems. Financial technology can be applied to the following major Fields: First, the annuity operation, the application of blockchain technology to solve the multi-role and multi-institutional management status of annuity operations, resulting in frequent information exchange, long business cycle, high management costs and other pain points. The second is to pay the transfer, move the clearing and settlement of transactions between multiple asset classes to the blockchain, and reduce transaction costs. Third, asset trading uses intelligent contracts to solve the problems of easy disappearance, easy destruction, and damage to contract data.