PING AN OF CHINA(SH:601318) 清华金融评论·2025-09-12 11:09Core Viewpoint - The insurance industry is becoming a crucial driver for the high-quality development of green transportation, serving as a foundational infrastructure for green transportation systems, and is expected to see a premium scale of approximately 2 trillion RMB in the green transportation sector from 2020 to 2030 [4]. Group 1: Industry Overview - The "Blue Book" outlines the current state, policy evolution, risk landscape, and insurance innovations across five key sectors: new energy vehicles, low-altitude economy, green logistics, green shipping, and rail transportation, all centered around the "carbon peak and carbon neutrality" strategy [3][4]. - The transition from "incremental expansion" to "green quality improvement" in green transportation presents unprecedented development opportunities, with the number of new energy vehicles in China expected to rise from less than 5 million in 2020 to 31.4 million by 2024, accounting for over 60% of the global total [6]. Group 2: Insurance Role and Market Dynamics - The insurance sector has evolved from a marginal compensatory role to a deep collaborative role in green transportation, with new energy vehicle insurance premiums increasing from 3.4 billion RMB in 2015 to 100.1 billion RMB in 2023 [7]. - The insurance function has shifted from simple compensation to a comprehensive service model encompassing risk identification, process control, and intelligent claims management [8]. Group 3: Sector-Specific Insights - In the low-altitude economy, insurance premiums are projected to exceed 5 billion RMB by 2030, with drone insurance being a significant growth driver [10]. - The new energy vehicle insurance market is expected to exceed 500 billion RMB by 2030, becoming a key growth point in the auto insurance market, with a noted correlation between vehicle torque levels and accident rates [10]. - The green shipping insurance market is anticipated to grow from approximately 430 million RMB in 2024 to over 1.9 billion RMB by 2030, with a focus on developing a risk-sharing mechanism for various fuel types [11]. Group 4: Policy and Regulatory Framework - The top-level design has positioned insurance as a critical institutional support for the green transportation system, as highlighted in various government action plans and guidelines [6][8]. - The "Blue Book" emphasizes the need for the insurance industry to transition from traditional post-event compensation to a proactive role in comprehensive risk governance to support the sustainable development of green transportation [8].