In the case of PICC, its head office has contracted the State Meteorological Information Centre to provide timely meteorological information. If there is a forecast of an inclement weather, its subsidiaries get in touch with their clients and explain the extent of their commitments. While insurance companies are according top priority to the provision of better services, they are also working hard to explore new markets and new products. One promising market is take automobile insurance. Although automobile insurance is the leading product of property insurance, most motor vehicles running on the mainland roads are not adequately covered.
Flood insurance is another promising new market.
Following the Yangtze floods this year, it was discovered that most of the peasants hard hit by the disaster were not insured. Even the more affluent farmers in Guangdong are not aware of the need for insurance. In the city of Guangfeng, only one enterprise is sufficiently insured. The Chinese government recently took a number of actions to reform its insurance sector. Apart from the re-organisation of PICC, the government allocated funds for the establishment of specialised companies for important insurance services.