Since reestablished in 1980, China''s insurance industry has achieved great
accomplishments. However, comparing with the commercial insurance in the Western,
there are some different characteristics between China and the Western countries.
Through cultural analysis on the run of commercial insurance in China, the author finds
that, as an institution, commercial insurance is embedded in the western culture.
Institutions including commodity economy and formal organization, formal norm
including effective law, and basic values including stress on economical security, risk
conception, organized idea and individualism, system trust, offer the run of commercial
insurance in the Western with cultural foundation. When introducing commercial
insurance from the Western, China does not have the full cultural foundation of the run
of commercial insurance because of the immature market economy, imperfectly formal
organization, lack of law environmental, and the influences of values including stress on
“ties of friendship”, providence, family ethics, personal trust. Before 1980, China had
already had social security, family insurance and reciprocal insurance which have not
only the function of economic indemnification, but also the functions of services,
spiritual comfort, feeling support. Moreover, China has the cultural foundation
including organization, norms and values which could ensure their run in China. After
introducing commercial insurance, Chinese people would compare the institution, norm
and value of commercial insurance with those of social security, family insurance and
reciprocal insurance. Chinese people are different from the Western people on the
insurance knowledge, attitude and behavior for the conflict of their cultural foundations.
Due to the social transformation in China, China''s social structure has been changing
which causes the cultural change. Cultural change brings opportunities for the
development of commercial insurance in China.