A Study of Chinese Mutual Insurance

Abstract

Mutual insurance, as the first form of insurance, has been developing for several hundred years. The form has become a mature one in developed areas, such as Europe, North America, and Japan, while in China, mutual insurance just came to the market. With the rapid development of the Internet, mutual insurance—mostly sold on Internet platforms—is becoming more and more popular among Chinese customers. However, since the insurance form is still at a very early stage of development, there arise many problems. This paper investigates these problems and proposes plausible solutions. This paper also reviews the history of mutual insurance of China and the world, in order to form a solid conclusion and predict future trends from historical perspectives.