IPO研究 | 中国保险AI科技总可触及市场规模预计2029年将达1.35万亿元

Core Insights - Warmwa Insight Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with JPMorgan and HSBC as joint sponsors [1] - The company is recognized as a leading AI technology firm in China's insurance industry, focusing on underwriting processes and claims management [1] - The insurance industry is undergoing significant transformation driven by technological advancements and data integration, with AI enhancing operational efficiency across the insurance value chain [1] Market Overview - The total addressable market for AI technology in China's insurance sector is projected to reach RMB 746.8 billion in 2024, with an expected growth to RMB 1,353.8 billion by 2029, reflecting a compound annual growth rate (CAGR) of 12.6% from 2024 to 2029 [2] - China's insurance market has been rapidly growing, with premiums increasing from RMB 4.5 trillion in 2020 to RMB 5.7 trillion in 2024, representing a CAGR of 5.9% [3] - The health insurance market is also expanding, with premiums expected to rise from RMB 0.8 trillion in 2020 to RMB 1.0 trillion in 2024, and projected to reach RMB 1.7 trillion by 2029, with a CAGR of 11.6% from 2024 to 2029 [3] Growth Potential - Despite being the second-largest insurance market globally by premium volume in 2023, China's insurance penetration rate stands at only 3.9%, significantly lower than the global average of 7.0% [3] - The insurance density in China is $516, compared to the global average of $889, indicating substantial growth potential in the sector [3]