Proceedings of the 2022 7th International Conference on Social Sciences and Economic Development (ICSSED 2022)

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Research on Building Open Insurance in the Insurance Industry Based on the Concept of Open Banking

Authors
Xu He1, Dayong Liu2, Yan Xiao*, 1, 3
1School of Business, Macau University of Science and Technology, Avenida Wai Long, Taipa, Macao, China
2Sinounited Investment Group Corporation Limited Postdoctoral Programme, Room 030, 2 / F, building 1, yard 100, Zhongxin Road, Weishanzhuang Town, Daxing District, Beijing, China
3College of mechanical engineering, Chongqing University of Technology, Chongqing, 400054 China
*Corresponding author:Yan Xiao. Email: xiaoyan10081115@gmail.com
Corresponding Author
Yan Xiao
Available Online 29 April 2022.
DOI
10.2991/aebmr.k.220405.100How to use a DOI?
Keywords
Open Banking; Insurance Industry; Open Insurance
Abstract

In recent years, as the financial technology booms quickly, profound changes have begun to take place in the banking industry and the financial industry as a whole. The concept of open banking has gradually become the mainstream thinking of commercial banks, simultaneously, the introduction of APIs, SDKs and other technical means has led to great changes in the business philosophy and business development model of traditional commercial banks, and has also brought good development opportunities to the banking industry. The insurance industry, a branch of the financial industry, is also encountering the historical proposition of “opening up”. This article, by analyzing the definition and development history of open banking and open insurance, the development model and the practice in China of open insurance are elaborated, while countermeasures against the challenges faced by open insurance is advanced.

Copyright
© 2022 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article distributed under the CC BY-NC 4.0 license.

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Volume Title
Proceedings of the 2022 7th International Conference on Social Sciences and Economic Development (ICSSED 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
29 April 2022
ISBN
978-94-6239-572-5
ISSN
2352-5428
DOI
10.2991/aebmr.k.220405.100How to use a DOI?
Copyright
© 2022 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article distributed under the CC BY-NC 4.0 license.

Cite this article

risenwbib
TY  - CONF
AU  - Xu He
AU  - Dayong Liu
AU  - Yan Xiao
PY  - 2022
DA  - 2022/04/29
TI  - Research on Building Open Insurance in the Insurance Industry Based on the Concept of Open Banking
BT  - Proceedings of the 2022 7th International Conference on Social Sciences and Economic Development (ICSSED 2022)
PB  - Atlantis Press
SP  - 608
EP  - 613
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.220405.100
DO  - 10.2991/aebmr.k.220405.100
ID  - He2022
ER  -