Shanghai introduces new policies on technology insurance, establishing a new ecosystem for risk protection in the international science and technology innovation center.

The Shanghai Financial Regulatory Bureau and the Shanghai Science and Technology Committee recently issued the "Guiding Opinions on Promoting High-Quality Development of Shanghai Science and Technology Insurance". The "Opinions" focus on key areas of guarantee, innovation of products and services, and enhancement of professional capabilities, providing all-round support for technological innovation. In terms of strengthening guarantees, the support of science and technology insurance for major scientific research tasks, breakthroughs in industry clusters, and the cultivation of future industries is emphasized. Standard science and technology insurance products tailored for small and medium-sized enterprises are being researched and introduced to reduce the risk costs for these enterprises. In terms of product innovation, the introduction of "Shanghai Science Points" is being explored to enable precise pricing of insurance, promote the deep application of artificial intelligence in the vertical field of insurance, and innovate the industrial chain science and technology insurance model driven by "chain-leading" enterprises. In terms of capacity building, large insurance institutions are encouraged to play a leading role and accelerate construction in areas such as special assessments, exclusive products, professional talents, specialized agencies, specialized technology, and specialized systems. Efforts are being made to actively research and develop professional regulatory methods that are suitable for science and technology insurance, guiding the insurance industry towards a deep transformation in the field of technology.