The Study Of The Development Of Insurance Industry In Taiwan

The insurance system has entered to Taiwan for more than one hundred years. This industry has gone through several stages of development in Taiwan. During the developing process, the government was playing the important role in the monitor.There are different types of risks existing in nowadays society. Insurance is the service of providing remuneration for risk taking. Not only for transferring and dispersing risks, insurance is acting in the different ways of influencing the economy and human livelihood. From the economic growth of Taiwan and the way of using the capital from the insurance industry, it shows that insurance industry is playing an essential role both in the economic and the social aspects of Taiwan. The insurance industry in Taiwan is having outstanding performance as compared with the worldwide development.In complying with the development of the global economic situation, Taiwan economy is being directed to globalization and liberalization. As part of the economy, and is rapidly growing, insurance industry is rationally developing toward the same direction of globalization and liberalization. The insurance industry is facing the environmental transitions of political, economic, social, even the industrial, and also the issues of how to adapt and adjust themselves. However, only in this way, Taiwan's insurance industry can take this opportunity to strengthen its structure, enhance the operational level and keep pace with the worldwide insurance industry.Although Taiwan's insurance industry has a satisfactory growth in the decades of years, still there are rooms for improvement. It is necessary for Taiwan to speed up the innovation of insurance industry in order to cope with the future developing trend.