The insurance industry is an industry that raises funds through contracts and provides economic compensation or payment to the insured when certain events occur or meet certain conditions. Mainly divided into life insurance and property insurance, in which life insurance includes life insurance and health insurance, and property insurance includes property loss insurance and liability insurance. The insurance industry plays an important role in the national economy. It can not only help individuals and enterprises to cope with various risks, but also contribute to social stability and economic development.

Second, the market position and scale

In recent years, with the rapid development of China's economy and the improvement of people's living standards, the demand for insurance market has continued to grow. By 2024, China's insurance market has become the second largest in the world, and the market scale continues to expand. According to statistics, the annual premium income reached 493.78 billion yuan, a year-on-year increase of 15.2%. Among them, the life insurance market dominated, with premium income reaching 252.74 billion yuan, up11.8% year-on-year; The property insurance market followed closely, with premium income reaching 2 1, 31.300 million yuan, up 17.5% year-on-year. The rapid development of internet insurance has injected new vitality into the market, and the informatization level of the insurance industry has improved significantly.

Third, the main product types

1. At present, the mainstream insurance products on the market include the following categories:

Life insurance: it mainly provides risk protection such as death and disability according to people's life span.

2. Health insurance: provide risk protection for diseases and medical expenses, including medical insurance and critical illness insurance.

3. Property insurance: property and its related interests are the subject matter of insurance, including property loss insurance and liability insurance.

4. Investment insurance: combining the functions of insurance and investment, it provides the insured with opportunities for risk protection and asset appreciation.

Fourth, the competition pattern.

The competition pattern of China insurance market is diversified. Large state-owned insurance companies occupy a dominant position in the market by virtue of their brand, capital and network advantages. However, with the gradual rise of private and foreign insurance companies, the market competition is becoming increasingly fierce. Private enterprises gradually stand out in the market with their flexible management mechanism and innovative ability. With their rich international experience and advanced management concepts, foreign insurance companies have injected new vitality into the insurance market in China.