China Insurance News, Health Insurance

Why then, if these corporations are so interested in establishing themselves on the mainland, are they having so much trouble doing so? Part of the issue may be due to certain cultural and societal issues towards which foreign nationals often have a hard time adjusting. Understanding the Chinese marketplace can be difficult, and it is partly due to this that the only foreign owned insurance companies in China that are enjoying great success are the ones, like

Royal and Sun Alliance, that have a long history of providing high quality products to individuals throughout China.

It is this ability to bridge the cultural gaps that still, to some extent, exist between the Western and Asian economies that help to make a successful international insurance company, and sadly many top class international insurance companies do not realize this. There are, however, some exciting new changes in the Chinese insurance industry as the economy continues to further open and more and more international investment flows into the nation. The number of foreign corporations accessing the insurance market in China is growing, and will continue to grow, as the nations industrial and technological might continue to grow and gain ground on western competitors.

This means two things, the first is that the number of foreign insurance organizations in China will continue to rise, giving expatriates in the country the assurance that they will be able to deal with insurers offering products with which they are already familiar. This will in turn help more foreign nationals to achieve their full potential in this booming economy and in turn serve to lure more expatriates to the country creating a cyclical effect. The second effect that this will have is towards the innovation and creation of new insurance products and the implementation of higher quality products giving both Chinese and foreign nationals the assurances that they need, that despite whatever happens they will have the protection and services that they deserve at their disposal.