On March 2, the Ministry of Science and Technology, the State Administration of Financial Supervision, the Ministry of Industry and Information Technology, and the China National Intellectual Property Administration jointly released the Several Opinions on Accelerating the High Quality Development of Science and Technology Insurance and Powerfully Supporting the Self reliance of High level Science and Technology (hereinafter referred to as the "Opinions"), which put forward 20 policy measures around "who to protect, what to protect, and how to protect", and accelerated the construction of science and technology insurance system and mechanism compatible with scientific and technological innovation. Technology insurance is an important component of technology finance, playing a crucial role in risk diversification and financial support for technological innovation. The Opinion requires focusing on major national scientific and technological tasks, technology-based small and medium-sized enterprises, key areas and key links of scientific and technological innovation, and strengthening insurance protection; At the same time, guide institutions to accelerate innovation in technology insurance product services, and guide insurance funds to invest in the field of technology innovation through measures such as promoting long-term investment reform pilot projects for insurance funds and improving internal fault-tolerant mechanisms for state-owned insurance institutions to participate in venture capital. The Opinion requires the establishment of an insurance product and service system covering the entire chain and cycle of scientific and technological innovation, which not only increases support for major national scientific and technological tasks, but also strengthens insurance protection for technology-based small and medium-sized enterprises. Specifically, focusing on major national scientific and technological tasks, the Opinion first proposes to establish a national mechanism for coordinating and promoting major technological breakthroughs in science and technology insurance; We will coordinate the establishment of a multi-party risk diversification model, improve multi-level loss sharing methods, establish professional insurance communities in key technological fields, and improve the risk diversification mechanism for major technological breakthroughs. At present, the co insurance bodies established in key technology fields in the industry include the China Integrated Circuit Co insurance Body and the Beijing Commercial Aerospace Insurance Co insurance Body. Journalists have learned in the industry that innovative fields without historical data accumulation are usually suitable for alleviating underwriting difficulties in the form of co insurance bodies. Once they are implemented, they can then meet different levels of needs by enriching their products. In response to the risk characteristics of technology-based small and medium-sized enterprises, the "Opinions" propose specific measures to promote convenient and efficient technology insurance products and expand the coverage of technology insurance. The Opinion encourages regions with conditions to reduce the cost of insurance for enterprises by increasing the proportion of premium subsidies, and supports various regions to provide flexible insurance solutions based on the risk characteristics of technology-based small and medium-sized enterprises and the scenario model of using technology achievements before payment. Zhang Daoming, the temporary head of PICC Property and Casualty Insurance, stated in an interview with Securities Times that the current industry often faces difficulties in developing technology insurance, such as the need for a large amount of industry data support for accurate product pricing, insufficient reserve of composite professional talents in technology insurance, and unsmooth channels for the allocation of insurance premiums for scientific research projects. The Opinion will promote the transformation and upgrading of technology insurance from passive protection to active empowerment. For example, by integrating data resources and promoting the improvement of cross departmental data sharing mechanisms, it will be beneficial to improve the accuracy of risk pricing and accelerate the innovation of technology insurance products. In addition, the Opinion requires fully leveraging the characteristics of long-term and patient capital of insurance funds, focusing on proposing two policy measures around insurance funds supporting major national science and technology projects and venture capital. Specifically, it includes: encouraging insurance funds to provide key support to enterprises undertaking major national science and technology projects; Promote the pilot reform of long-term investment of insurance funds and encourage priority investment in technology-based enterprises; Encourage insurance institutions to increase funding support for venture capital firms that focus on cutting-edge technology fields; Establish a sound internal fault-tolerant mechanism for state-owned insurance institutions to participate in venture capital. (New Society)