By 2035, almost a third of China’s population will be over the age of 60. A shrinking young workforce poses a policy challenge for the country, particularly for traditional growth engines such as manufacturing. Yet amid these broader concerns, one sector continues to shine: insurance.

The same ageing trend that threatens productivity and strains its social security system is also fuelling demand for insurance products tailored to health and retirement. Unlike sectors tied to volatile trade cycles, life and health insurers are benefiting from long-term demographic tailwinds. China is expected to drive more than a quarter of global premium growth through to 2030, according to Bain estimates.

At the same time, the insurance industry has emerged as one of the earliest and most significant beneficiaries of the artificial intelligence revolution. Insurance is especially well-positioned to leverage advanced data analytics and machine learning to price risk more accurately and deliver personalised coverage. AI-driven insurers are using these technologies to offer tailored solutions by analysing user data such as health metrics and lifestyle habits to dynamically adjust policies and pricing. This digital transformation is already evident in the rapid growth of smaller technology-driven online insurers and brokers in China.