"It has globally become common for insurers to offer insurance as a supplement to other companies' goods and services," said Jiawei Wang, head of the China desk at law firm Roedl & Partner in Stuttgart, Germany. "Given Chinese e-commerce platforms' gigantic customer pools, it is particularly lucrative in China even if only a very small percentage of users buy the insurance."
By easing into various corners of the Chinese market with such partnerships, European insurers are preparing themselves for regulatory approval that allows them to go it alone."
JENS KASTNER, Contributing writer Nikkei Asian Review Dec 3rd 2019
HAMBURG, Germany -- European insurers are teaming up with an unusual range of local partners, from food companies to retailers, in order to break into China's booming insurance market that is already the world's second biggest and is expected to triple by 2030.