(Yicai Global) July 24 -- American risk management behemoth Aon will increase its support to the first Chinese-foreign insurance brokerage in the Asian country to seize opportunities, according to the general manager of Aon-COFCO Insurance Brokers.

Aon reaffirms commitment to Chinese market, Dai Jia said to Yicai Global recently in an exclusive interview. Offshore companies have faith in the Chinese market and there is large space to grow in the long term, he added.

The joint venture of the Chicago-headquartered company began business exploration in key industries as early as 2015 and two years after, it picked eight industries to focus on, including agriculture, high tech, automotive, chemicals, life sciences, and new energy.

In the past two years, the further opening-up of China's financial industry has been providing more opportunities to insurance JVs but serious and meticulous study is necessary to decide on future inputs, the GM said.

China has experienced rapid development in the property insurance market in the last 20 years and hence, insurance brokers have remodeled the business logic to respond to market changes, he said. Property insurance is now more refined and diversified, targeting specific needs.

Brokers need to discard the conventional product-centric thinking, and provide solutions to alleviate various types of risks, the GM said. Foreign-funded insurers can draw from their global experience and data for specialized segmentation, and such a value proposition drives adjustments in organizational structures, he added.

Editor: Emmi Laine