On 11 June, China Re P&C of the China Re Group held the opening ceremony of the Innovation Lab (the “Lab”) and the innovation development seminar in Shanghai. The establishment of the Lab by China Re P&C is a major step to implement the nation’s directives and plans, an important practice to support the construction of an international reinsurance center in Shanghai, and improve the technological capability of the industry, and acts also as the core for China Re P&C to build an ecosystem with reinsurance characteristics. The Lab marks that China Re P&C has taken the lead in exploring the cutting-edge application of technology in the insurance sector, while helping the construction of the science and technology innovation center and the reinsurance center in Shanghai so as to achieve a leap-forward for the construction of the reinsurance sector.
The Innovation Lab of China Re P&C will focus on research in emerging technologies such as artificial intelligence, blockchain and big data exploration, development of various businesses in relation to technology, platform and internet insurance, and pursuance of an innovative model through continuous accumulation in science and technology to enhance the technological innovation capability of the insurance industry. In the future, an open and cooperative operation mechanism will be applied to the Lab. By strengthening extensive and in-depth cooperation with different parties, China Re P&C will be driven to integrate into the global insurance technology innovation network system in an all-round, deep and wide range, in order to synergize between insurance technology application and technology insurance product development, which in turn will promote the launch of new technology insurance products and facilitate the general technology progress in China’s insurance industry.