As the economy stabilizes, Chinese consumers feel more optimistic, secure, and willing to spend. This improvement in consumer sentiment is being driven primarily by middle-class and affluent consumers in the country's small cities. Big-city consumers are still important but are managing their spending more carefully.
Forward-thinking life insurers are using big data and advanced analytics to enhance business processes, increase market penetration, deepen customer relationships, and underwrite new risks. Over the long term, these approaches will open up important avenues for growth and innovation among companies willing to experiment now.