Shenzhen Unveils Major Action Plan to Boost Technology Insurance and Innovation Through 2028

Technological Advancements! Major Announcement from Shenzhen!

On January 22, 2026, the Shenzhen Municipal Bureau of Local Financial Management released the “Action Plan for the Insurance Industry to Support Technological Innovation and Industrial Development (2026-2028)” (herein referred to as the “Action Plan”). This plan encompasses sixteen policies that cover various emerging technology sectors and specifically proposes measures to accelerate the development of risk protection products tailored to meet the needs of research and development, achievement transformation, and industrial promotion.

The Action Plan aims for Shenzhen’s technology insurance premium income to achieve an annual growth rate exceeding 10% by the end of 2028, providing risk protection of over 50 trillion yuan annually for technology enterprises. It also plans to achieve breakthroughs in insurance services for emerging industries such as low-altitude economy and artificial intelligence, launching at least 30 innovative insurance products each year. Additionally, the insurance sector is expected to continue expanding, with total assets of insurance companies in the city surpassing 11 trillion yuan and premium income exceeding 700 billion yuan over three years.

Customized Insurance Services for AI and Low-Altitude Economy

The most significant highlight of the Action Plan is its focus on developing insurance products and measures tailored to emerging technology sectors like artificial intelligence and low-altitude economy. The plan encourages insurance institutions to conduct research in cutting-edge technologies such as humanoid robotics, quantum technology, commercial aerospace, and brain-machine engineering, fostering innovation in insurance product offerings and providing initial research and application guarantees.

It also aims to improve the management of technological research and development funds in Shenzhen, allowing for expenditures on technology insurance according to actual needs. The plan actively promotes inclusive technology insurance products like “Hui Ke Bao” and encourages the development of exclusive products related to “innovation points” in various scenarios.

To support the development of the artificial intelligence sector, the Action Plan encourages the establishment of innovation centers for AI insurance, focusing on risks across the entire AI industry chain and developing comprehensive insurance products that cover all levels from foundational to application. Furthermore, it supports collaboration between insurance institutions and specialized tech companies to provide risk assessments, safety testing, and compliance consulting services for AI enterprises, along with tailored comprehensive insurance solutions that cover risks related to computational power, cybersecurity, and data safety.

In promoting the development of low-altitude insurance, the Action Plan proposes the rapid implementation of supporting mechanisms for drone liability insurance, including exploring a mandatory insurance system for drones and establishing a classification and management system for different types of drones. It encourages the development of commercial insurance products for high-risk emerging scenarios, such as low-altitude logistics and electric vertical takeoff and landing (eVTOL) vehicles. Additionally, it promotes the integration of intelligent low-altitude systems and enhances data sharing among insurance institutions to improve pricing, monitoring, and claims processes.

Enhancing High-Quality Development of New Energy Vehicle Insurance

To optimize new energy vehicle insurance offerings, the Action Plan aims to improve the supply of new energy vehicle insurance, adjust commercial vehicle insurance benchmark rates, and introduce a “basic + variable” insurance product combination. It supports flexible insurance options for new energy ride-hailing vehicles based on actual operating conditions. Insurance institutions are encouraged to collaborate with smart driving developers and manufacturers to gather risk analysis data and refine the insurance product offerings for smart vehicles. The plan also explores a “separation of vehicle and power” model for commercial vehicle insurance in specific urban traffic contexts.

Additionally, it seeks to establish reasonable maintenance and claims standards, thereby reducing the costs associated with the maintenance and use of new energy vehicles. The plan promotes cross-industry data sharing to foster better driving habits among consumers and establish an ecosystem for risk reduction management.

Strengthening Cooperation Between Shenzhen and Hong Kong’s Insurance Industries

Given its proximity to Hong Kong, which has a mature insurance sector, the Action Plan emphasizes enhancing cooperation between the insurance industries of Shenzhen and Hong Kong. It supports collaboration between insurance and reinsurance institutions in both regions to develop medical insurance and pension products that are characteristic of the Greater Bay Area, facilitating medical and pension services for Hong Kong residents.

The plan also aims to improve insurance coverage for enterprises venturing overseas, leveraging Shenzhen’s export credit insurance policies to bolster support for small and medium-sized foreign trade enterprises. It encourages insurance institutions to participate in building comprehensive overseas service systems for enterprises going abroad and promotes the use of trade risk mitigation tools, such as “cross-border e-commerce insurance.”

The Action Plan highlights the importance of expanding the size of the insurance industry in Shenzhen while achieving higher quality development. It supports both domestic and foreign insurance entities in establishing subsidiaries in sectors such as asset management, healthcare, and pensions, and encourages specialized insurance innovation centers focused on technology and industry development.

The insurance sector plays an indispensable role in stabilizing economic growth, securing social welfare, and advancing the modernization of social governance. To promote the insurance industry’s support for Shenzhen’s technological innovation and industrial development, the Shenzhen Municipal Bureau of Local Financial Management has drafted the “Action Plan”, which was publicly solicited for opinions on January 22.

Key Policy Content

The Action Plan is divided into four sections: work goals, promoting insurance support for technological innovation and industrial development, constructing a new development framework for the insurance industry, and ensuring measures. It proposes sixteen work measures aimed at guiding the insurance industry to assist in the technological innovation and industrial upgrading of Shenzhen while achieving its own high-quality development.

1. Work Goals

The plan sets quantitative targets for technology insurance premium income, aiming for an average annual growth rate exceeding 10% and providing over 50 trillion yuan in risk protection annually to technology enterprises. It also aims for breakthroughs in insurance services for emerging industries, with a target of launching no less than 30 innovative insurance products each year. Furthermore, it anticipates total assets of insurance companies in Shenzhen exceeding 11 trillion yuan and premium income of over 700 billion yuan in three years.

2. Main Content

The Action Plan focuses on key areas such as technology, industry, and insurance, proposing specific support measures for issues relevant to the insurance industry and the real economy. It actively explores innovation, including the establishment of insurance innovation centers in key areas like artificial intelligence and new energy vehicles, and the promotion of mandatory liability insurance for drones.

Additionally, it aims to optimize various operational mechanisms, including establishing regular project connection mechanisms for insurance capital, expanding the application of innovation points, and encouraging insurance institutions to utilize reinsurance mechanisms in key sectors.

3. Current Development of Shenzhen’s Insurance Industry

In the first three quarters of 2025, the premium income in Shenzhen reached 179.74 billion yuan, marking a year-on-year increase of 12.8% and continuing to lead among major cities in China. By the end of September 2025, the total assets of insurance companies in the region reached 9.1 trillion yuan, with a year-on-year growth of 22%, ranking second among domestic cities.

4. Industry Innovation Exploration

The Shenzhen Insurance Association has formed a working group for technology insurance, focusing on key aspects such as operational management, research and development transformation, and intellectual property. They have developed an overall protection plan called “Hui Ke Bao” and created 11 industry demonstration clauses under this framework.

Additionally, insurance firms are exploring innovative solutions like seed fund insurance compensation plans to mitigate risks for early-stage projects. The establishment of the first national overseas intellectual property insurance alliance in Nanshan District aims to provide robust risk protection for enterprises venturing abroad.

Overall, the Action Plan is a forward-looking initiative to enhance risk management and support the development of innovative technologies within Shenzhen and beyond.