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Auto insurance industrial chain expected

By Dai Yan (chinadaily.com.cn)
Updated: 2006-10-18 11:09

Domestic auto insurance has maintained an average annual increase of 18 percent during the past five years. In what way can auto insurance help promote domestic auto production and consumption? This issue was discussed at the first forum on development of the Chinese auto insurance industrial chain held in Beijing last month.

Experts at the forum agreed that an auto insurance industrial chain must be built to achieve the harmonious development of the Chinese auto industry and other related industries. With auto insurance at its center, the industrial chain will consist of auto manufacturers, auto dealers, insurance companies and agencies, surveyors and loss adjustment companies, law offices and hospitals.

"It is a systematic project to build the auto insurance industrial chain. We are not sure what role every part on the chain will play and what opportunities and challenges they will encounter," Professor Zhang Hongtao with China's Renmin University said.

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The full text is available in the October Issue ofChina Insurance