In-depth Analysis of the Development of China's Insurance Industry in the Post-Pandemic Era: Transformation, Challenges, and Strategic Reconfiguration

Abstract

The COVID-19 pandemic, as a global public health crisis, has had profound and lasting effects on the world economy and social operating models, fundamentally changing individuals', enterprises', and governments' perceptions of risk and risk management paradigms. The Chinese insurance industry has experienced short-term pain due to the impact of the pandemic, but in the long term, the pandemic has served as a "catalyst" and "accelerator" for the industry's development, greatly enhancing societal awareness of risk protection and, with unprecedented strength, promoting the industry's digital revolution and supply-side structural reform. This article aims to conduct a comprehensive and systematic analysis of the macro environment, technological background, and demand changes faced by the Chinese insurance industry in the post-pandemic era, and to deeply explore the historical opportunities inherent in key areas such as health insurance, pension insurance, digital transformation, and green insurance. Additionally, this article will objectively examine the severe challenges the industry faces in the sustainability of profit models, structural mismatches in supply and demand, rebuilding trust systems, new risk management, and regulatory adaptation. Lastly, based on the above analysis, this article will propose strategic pathways and policy recommendations from three levels: national policy, industry regulation, and corporate strategy to promote the high-quality and sustainable development of the Chinese insurance industry, better serving the needs of national governance modernization and the well-being of the people.