CITIC Securities: AI-driven insurance development expected to significantly create incremental value.

The research report from CITIC Securities stated that the depth and density of insurance in China are generally low, with traditional channels still being the main means, and the industry remains stuck in the stage of "finding customers for products" in the long term. Currently, the capabilities of insurance agents are continuously improving and still have value; the bank-insurance channel is benefiting from policy dividends, with the transfer of savings deposits bringing the main growth for the industry; the peak of the mobile internet traffic dividend has been reached, with limited solutions to pain points, and the penetration rate of internet insurance is around 10%.