Zhibao Technology, an InsurTech company, unveiled the Longevity Risk Lab (LRL) in Shanghai at its inaugural Longevity Risk Conference. The LRL will operate under a joint management model.
Zhibao, the Shanghai International Reinsurance Registration and Trading Center (a division of SHIE), and the Insurance School of the University of International Business and Economics will collaborate on the initiative.
The lab aims to research, assess, and develop tools for addressing longevity risks, providing the insurance sector with structured methods to manage these challenges.
Key topics at the conference included the causes and impacts of longevity risk and strategies for risk transfer and mitigation. Discussions emphasized implications for China’s retirement and pension systems.
Bain & Company estimates that China’s pension market will grow to approximately RMB 48 tn by 2030. This includes an estimated RMB 10 tn from private pensions and pension insurance.
Botao Ma, Zhibao’s CEO, addressed the audience, highlighting the rapid expansion of the private pension sector.
The private pension and pension insurance market is on track to surpass $1 tn in the coming years, offering immense opportunities
Botao Ma, Zhibao’s CEO
He highlighted Zhibao’s commitment to leveraging its 2B2C digital embedded insurance platform and managing general underwriter platform to deliver tailored solutions to end users.
Ma underscored the importance of systematic risk evaluations for sustainable growth in the pension insurance market. He also reaffirmed Zhibao’s commitment to innovation and industry leadership.
“Through events like today’s conference, Zhibao reinforces its role in pioneering solutions for our partners and clients,” Ma concluded. “We look forward to advancing this field and other areas within the insurance industry.”
