On the new era of China's insurance industry innovation

In recent years, China's insurance industry has been developing faster, but the level is still low, the overall size of a small, low proportion in the national economy's inherent weaknesses. The economic compensation insurance, financial intermediation, and social management functions of the three have not yet brought into full play. China's insurance industry has entered a new stage of development, are facing some challenges, they are facing great opportunities for development. The insurance industry are moving towards globalization, integration and coordination of the trend of development, insurance innovation has become the mainstream of development, science and technology for the rapid development of the insurance industry has laid a solid foundation.

Key words: the insurance industry innovation; new risks; traditional insurable risk; catastrophic risk