The first online insurance company in China. Using state-of-the-art technology and driven by innovation ideas, Zong An bring new products and solutions to this industry which makes Zhong An not only a financial company, but also a Fintech pioneer.
Zhong An insuranc (Full name: Zhong An Online Property & Casualty Insurance Co Ltd.)
Being the first online insurance company(“Zhong An”) in China, Zhong An is co-founded by well-reputed companies like Ant Financial, Tencent and Ping An Group etc, and officially launched its operation on the 6th November 2013. Using state-of-the-art technology and driven by innovation ideas, we bring new products and solutions to this industry which makesZhong An not only a financialinstitution but also a Fintech pioneer.
Based in Shanghai, with a registered capital of RMB 1.2billion, Zhong An offers seamless online underwriting and claim services with no local branch.
In June 2015, 17 months after its launch, we finalized A round financing ofRMB 5.775 billion, funded by new world renowned investors including Morgan Stanley, CICC, CDH Investments, SAIF Partners and Keywise Capital with company valued at RMB 50 billion. In December2015, the survey report jointly conducted by Australian Fintech investor-H2 Ventures and KPMG, Zhong An is ranked as #1 of the 100 global Fintech companies.
Bing a pioneer of the on-line insurance industry, Zhong An Insurance started its business hand in hand with e-commerce companies by innovative embedded insurance services, such asshippingreturn insurance, performance bond insurance for e-business and so on.By now Zhong An has formed independent business lines, including credit insurance, health insurance, auto insurance, and travel insurance etc. We developed more than 200 insurance products like ”Steps” for Health Insurance, Diabetes Guardian , ”Swing” for timely flight-delay insurance, Legal cost Protector , Jiyou platform comprehensive insurance etc, and also the very first O2O auto insurance “Auto Guard” in China’s insurance market.
Till 31, May 2016, our accumulative number of customer is amounted uptp 414 million, and number of policies issued is 4.583 billion. On 11th November 2015(an annual online shopping festival in China), Zhong An underwrote more than 200 million policies with a total premium amounted RMB128 million Yuan in a single day.
At present, ZhongAn’s business permit includes e-commerce insurance, household property insurance, cargo insurance, liability insurance, credit and bond insurance, short-term health/accident insurance, auto insurance(compulsory and commercial), all outward reinsurance business of the above maintained business, insurance funds investment as allowed by law and regulations, insurance information service and all other services approved by CIRC (China Insurance Regulatory Commission)
As a company serving internet ecosystem, Zhong An has embedded its products into various kinds of business scenarios. Some of them are giants like Alibaba, Baidu, Tencent, others are online financial services platforms like Zhaocaibao, Xiaoyao. Some famous startups internet companies like Airbnb, DJI, BGI and Mogujie.com are also our partners. We are even working with traditional insurance companies like Ping An Insurance.
Two-year time passed and Zhong An has built up its core strength in following areas: products embedded into scenarios, quick response to demands and time to market, pricing based on on-line big data, dynamic insurance acceptance,cross-selling, highly automated and rapid claims settlement.
In addition, Zhong An is the first finical institution that structures its core system on Cloud Computing technology, which gives us advantage to satisfy mass volume and changing demands on internet by providing us with an open, flexible and extensible core system.
Fintech has a promising future andwe expectmore partners to join us to build a fair and amicable insurance system together.