At present, the insurance market in China is still an oligopoly model, and the development goal is to change the monopoly competition model.
Before 1988, it was completely monopolized by PICC, and from 1988 to 2000, it was a three-legged period. Since 200 1, China has always been an oligopoly model, which is the result of administrative intervention in resource allocation under the planned economy.
I hope it helps you.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.