Zhongan Online Property Insurance Co., Ltd., Zhongan Insurance, initiated by Alibaba/Tencent/Ping An/Ctrip and other well-known domestic enterprises, is a well-known Internet insurance financial institution in China, and is committed to online underwriting and claims services on the Internet
ZhongAn Online Property & Casualty Insurance Co., Ltd. (hereinafter referred to as Zhongan Insurance, Zhongan) was inaugurated on November 6, 2013, and was initiated and established by well-known enterprises such as Ant Financial, Tencent, and Ping An of China. As one of the world's earliest Internet insurance companies, ZhongAn is also a financial technology company that drives financial development with technological innovation.
Headquartered in Shanghai, China, ZhongAn Insurance does not have any branches, and conducts online underwriting and claims services entirely through the Internet.
In June 2015, Zhongan Insurance, which was established only 17 months ago, received nearly 6 billion yuan in Series A financing, and added five new financial investment institutions, including Morgan Stanley, CICC, CDH Investments, SAIF Fund and Kesbo, with a valuation of 50 billion yuan. In December 2015, H2 Ventures, a well-known Australian fintech venture capital institution, and KPMG (KPMG) jointly released the top 100 global fintech list, and Zhongan Insurance won the crown.
As a leading insurtech company, ZhongAn initially started with return insurance to resolve return disputes, and created a series of risk solutions around the e-commerce ecology in the e-commerce scenario, such as Zhonglebao and account security insurance. Since then, Zhongan has quickly entered other scenarios and built core business divisions such as health insurance, air travel and commercial insurance, consumer finance, auto insurance, and 3C digital.
Over the years, Zhongan Insurance has formed core advantages: product design is customized based on scenarios and quickly responds to needs; The pricing is based on Internet big data, dynamic underwriting; Sales is seamlessly connected to the scene, directly facing customers, and cross-selling; Claims services are highly automated, fast and transparent.
So far, Zhongan Insurance has connected more than 300 ecological partners to provide a complete set of risk solutions for the Internet economic life. As of March 31, 2017, Zhongan Insurance has served a total of 582 million customers and more than 8.291 billion policies.
In the process of exploring scenario insurance, as the first financial institution in China to build its core system on the cloud, ZhongAn has built an open, flexible and scalable core system based on the cloud service platform to meet the massive and high-speed business needs of the Internet. At the same time, ZhongAn continues to develop and precipitate cutting-edge technologies such as artificial intelligence, blockchain, and big data, and deeply apply them to product research and development to enhance experience and improve operational efficiency. Through its wholly-owned subsidiary, ZhongAn Technology, ZhongAn is also committed to exporting its own technology, promoting the informatization upgrade of the insurance industry, and becoming an incubator for internal and external innovation.
