Beijing - InsCom, an e-commerce insurance company based in China, has been awarded as one of China's Top 100 Business Web sites of 2005 at the second awards ceremony of the China Commercial Internet Developing Conference. In the five years of the top 100 business Web site award, this is the first time an insurance Web site has won.Rapid development of the insurance industry has led to diversities in the insurance marketing channel. Some traditional channels such as: direct sales, full-time or part-time agents, telephone, correspondence and networking are seeing new changes being gradually introduced in order to modernise roles in product sales and business development for insurance companies.

 At the ''2005 Asia Venture Conference'' held in Silicon Valley, Calif., Mary Meeker, managing director of Morgan Stanley and Star analyst, also known in the industry as "The Queen of the Internet" paid great attention to the Chinese Internet market and confirmed that at present China is the second largest Internet market in the world with 100 million users in 2005, and within five years could become the world's number one market.

Simultaneously she pointed out that the Chinese Internet industry has already exceeded world-class levels on short messages services (SMS), online advertisements, bloggers and online games, and it hoped to achieve similar success in other fields.

According to Meeker, the new focus of the Internet will be service-related industries such as, automobile, real estate and insurance. In China only 4% of the population have insurance with interest continuing to grow.

Source: InsCom

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