That brings all of European and North American insurers a big challenge. Technology and product innovation in Chinese insurance looks more lively and sustained than in the complacent Atlantic bordering nations. Add to that Amazon insurance acquisitions in India and Softbank investments there and you have a "perfect storm" brewing.

Western insurers should be on the front foot however- see "Ping An: why we can beat fintechs for auto insurance- lessons for carriers everywhere"

Pleased to have brought the APAC opportunities to your attention before in "Impact of China Overtaking the U.S. in Less Than 15 Years"

You need to read the article (linked below) by Henrik Naujoks and Harshveer Singh from Bain & Company.