There are major barriers carriers will face as they try to unlock the potential of more than 1.2 billion people living and working in China, a global powerhouse. And while these barriers will all but stop even the most tenacious players, there are three that will stop them dead in their tracks.
As companies attempt to enter the Chinese market, the first and largest barrier is the language. Imagine your claims associate trying to get the details of an accident from the various parties involved and not being fluent in Chinese — it just wouldn’t be possible. All verbal and written communications would need to be in Mandarin, which would further be complicated by more than 20 dialects. Even if these problems were solved, capturing pertinent data in your systems presents a challenge, as Mandarin takes years to master.
The claims organization faces the second major barrier. The practices in China will be quite challenging due to the nature of settlement procedures used here. If you are involved in an accident, the transaction is often settled on-site, in real time. Wouldn’t that create some workflow issues?
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