An Artificial Intelligence Insurance Innovation Center was established in Shenzhen's Luohu district on Thursday, marking a new step in the insurance sector's efforts to support China’s push for "new quality productive forces" and the "AI+" initiative.

The center was initiated by PICC Property and Casualty Company Limited's Shenzhen branch. It aims to leverage insurance mechanisms to facilitate high-level technological self-reliance and address emerging risks across the rapidly evolving AI industry.

Earlier this year, Shenzhen released an action plan to encourage the insurance sector to better support technological innovation and industrial development. The plan calls on insurers to accelerate the establishment of AI-focused innovation centers and develop comprehensive insurance solutions covering the entire AI value chain—from infrastructure to technology and application layers.

The center aims to tackle industry risks with market-based insurance solutions, advance product innovation across the AI value chain, foster a collaborative ecosystem, and develop a “Shenzhen model” that can be replicated nationwide.

At the launch event, the Shenzhen branch of PICC P&C joined hands with more than ten initial partners from across the AI industrial chain to establish a collaborative insurance ecosystem. The initiative aims to tackle key challenges in risk identification, assessment and management amid the sector’s rapid growth, while promoting closer alignment between insurance products and industrial needs.

Several new insurance products were also unveiled. The country's first comprehensive insurance policy for AI infrastructure was introduced, providing coverage for core hardware such as servers at intelligent computing centers, including risks related to product quality, property damage and machine breakdown.

In addition, the first domestic computing power credit insurance policy was launched within the system. Targeting operational risks faced by computing power centers, the product offers compensation for bad debt losses in cases of payment defaults by users, while enhancing creditworthiness to help enterprises unlock assets and expand financing channels.