Zhibao Technology Inc. Reaches a Strategic Investment Cooperation with Sport Covers to Create a New Business Model of Digital Sports and Insurance Brokerage
Zhibao Technology Inc. (NASDAQ: ZBAO) has announced a strategic investment cooperation with Sport Covers to create a new business model combining digital sports and insurance brokerage. This partnership leverages Zhibao's expertise in insurance and technology with Sport Covers' position in the sports market. Key points:
1. Sport Covers becomes the first sports insurance technology platform under a listed insurance brokerage in China.
2. Zhibao gains access to sports-related B-channels, including facilities, marathons, and events.
3. Revenue projections: CNY 20M in 2024, CNY 50M in 2025, and CNY 80M in 2026.
4. Global Sports Insurance market expected to reach $4.8 million by 2028 (CAGR 6.0%).
5. Zhibao aims for 10% market share by 2024, 15% by 2025, and over 20% by 2026.
Zhibao Technology Inc. (NASDAQ: ZBAO) ha annunciato una cooperazione strategica di investimento con Sport Covers per creare un nuovo modello di business che combina sport digitali e brokeraggio assicurativo. Questa partnership sfrutta l'esperienza di Zhibao nell'assicurazione e nella tecnologia insieme alla posizione di Sport Covers nel mercato sportivo. Punti chiave:
1. Sport Covers diventa la prima piattaforma tecnologica di assicurazione sportiva sotto un brokeraggio assicurativo quotato in Cina.
2. Zhibao ottiene accesso a canali B legati allo sport, comprese strutture, maratone ed eventi.
3. Previsioni di entrate: CNY 20 milioni nel 2024, CNY 50 milioni nel 2025 e CNY 80 milioni nel 2026.
4. Si prevede che il mercato globale delle assicurazioni sportive raggiunga 4,8 milioni di dollari entro il 2028 (CAGR 6,0%).
5. Zhibao punta a una quota di mercato del 10% entro il 2024, del 15% entro il 2025 e oltre il 20% entro il 2026.
Zhibao Technology Inc. (NASDAQ: ZBAO) ha anunciado una cooperación estratégica de inversión con Sport Covers para crear un nuevo modelo de negocio que combina deportes digitales y corretaje de seguros. Esta asociación aprovecha la experiencia de Zhibao en seguros y tecnología junto con la posición de Sport Covers en el mercado deportivo. Puntos clave:
1. Sport Covers se convierte en la primera plataforma tecnológica de seguros deportivos bajo un corretaje de seguros cotizado en China.
2. Zhibao accede a canales B relacionados con deportes, incluyendo instalaciones, maratones y eventos.
3. Proyecciones de ingresos: CNY 20 millones en 2024, CNY 50 millones en 2025 y CNY 80 millones en 2026.
4. Se espera que el mercado global de seguros deportivos alcance los 4.8 millones de dólares para 2028 (CAGR 6.0%).
5. Zhibao aspira a tener una participación de mercado del 10% para 2024, del 15% para 2025 y más del 20% para 2026.
지바오 테크놀로지 주식회사(주식 코드: ZBAO)는 스포츠 커버스와의 전략적 투자 협력을 발표하고 디지털 스포츠와 보험 중개를 결합한 새로운 비즈니스 모델을 창출합니다. 이 파트너십은 지바오의 보험 및 기술 전문성과 스포츠 커버스의 스포츠 시장 내 위치를 활용합니다. 핵심 사항:
1. 스포츠 커버스는 중국의 상장 보험 중개 하에 최초의 스포츠 보험 기술 플랫폼이 됩니다.
2. 지바오는 시설, 마라톤, 이벤트 등 스포츠 관련 B채널에 접근합니다.
3. 수익 예측: 2024년 2천만 CNY, 2025년 5천만 CNY, 2026년 8천만 CNY입니다.
4. 2028년까지 전 세계 스포츠 보험 시장은 480만 달러에 이를 것으로 예상됩니다 (CAGR 6.0%).
5. 지바오는 2024년까지 10%, 2025년까지 15%, 2026년까지 20% 이상의 시장 점유율을 목표로 합니다.
Zhibao Technology Inc. (NASDAQ: ZBAO) a annoncé une coopération d'investissement stratégique avec Sport Covers pour créer un nouveau modèle commercial alliant sports numériques et courtage d'assurance. Ce partenariat tire parti de l'expertise de Zhibao dans les domaines de l'assurance et de la technologie ainsi que de la position de Sport Covers sur le marché du sport. Points clés :
1. Sport Covers devient la première plateforme technologique d'assurance sportive sous un courtier d'assurance coté en Chine.
2. Zhibao a accès à des canaux B liés aux sports, y compris des installations, des marathons et des événements.
3. Prévisions de revenus : 20 millions de CNY en 2024, 50 millions de CNY en 2025 et 80 millions de CNY en 2026.
4. Le marché mondial de l'assurance sportive devrait atteindre 4,8 millions de dollars d'ici 2028 (CAGR 6,0%).
5. Zhibao vise une part de marché de 10% d'ici 2024, de 15% d'ici 2025 et de plus de 20% d'ici 2026.
Zhibao Technology Inc. (NASDAQ: ZBAO) hat eine strategische Investitionskooperation mit Sport Covers bekannt gegeben, um ein neues Geschäftsmodell zu schaffen, das digitale Sportarten und Versicherungsmakler kombiniert. Diese Partnerschaft nutzt das Fachwissen von Zhibao in den Bereichen Versicherungen und Technologie sowie die Position von Sport Covers auf dem Sportmarkt. Wichtige Punkte:
1. Sport Covers wird die erste Technologieplattform für Sportversicherungen unter einem börsennotierten Versicherungsmakler in China.
2. Zhibao erhält Zugang zu sportbezogenen B-Kanälen, einschließlich Einrichtungen, Marathons und Veranstaltungen.
3. Einnahmeprojektionen: 20 Millionen CNY im Jahr 2024, 50 Millionen CNY im Jahr 2025 und 80 Millionen CNY im Jahr 2026.
4. Der weltweite Markt für Sportversicherungen wird bis 2028 voraussichtlich 4,8 Millionen Dollar erreichen (CAGR 6,0%).
5. Zhibao strebt bis 2024 einen Marktanteil von 10%, bis 2025 von 15% und bis 2026 von über 20% an.
- Strategic partnership with Sport Covers to enter the growing sports insurance market
- Projected revenue increase: CNY 20M in 2024, CNY 50M in 2025, CNY 80M in 2026
- Access to sports-related B-channels for customer base expansion
- Aim to capture 10% market share by 2024, 15% by 2025, and over 20% by 2026
- None.
Insights
Zhibao Technology's strategic investment in Sport Covers marks a significant move into the digital sports insurance market. The partnership leverages Zhibao's insurance expertise and Sport Covers' sports industry connections, potentially creating a unique value proposition. The projected revenue contributions are substantial:
However, investors should approach these projections with caution. The global sports insurance market is expected to grow at a CAGR of
While the strategic move into sports insurance diversifies Zhibao's portfolio and could provide new growth opportunities, the financial impact remains uncertain. Investors should monitor the execution of this partnership and the actual revenue realization in the coming quarters to assess its true value.
The collaboration between Zhibao Technology and Sport Covers represents an innovative approach to the sports insurance sector. By combining Zhibao's digital insurance brokerage expertise with Sport Covers' sports industry connections, they're creating a unique platform that could potentially disrupt the traditional sports insurance model.
This partnership addresses a growing need in the market. As sports participation increases globally, so does the demand for specialized insurance products. The digital, scenario-based approach mentioned in the announcement could lead to more tailored, accessible insurance solutions for athletes and sports enthusiasts.
However, the success of this venture will largely depend on factors not fully addressed in the announcement:
- Product development: How will they create insurance products that truly meet the specific needs of various sports and athlete levels?
- Risk assessment: Sports insurance requires specialized underwriting. How will they accurately price risks in this niche market?
- Claims handling: Sports injuries can be complex. What processes will they implement to ensure efficient and fair claims settlement?
While the potential is significant, execution will be key. Investors should closely monitor how Zhibao and Sport Covers address these challenges as they roll out their joint offerings.
The partnership between Zhibao Technology and Sport Covers taps into a niche but potentially lucrative market. The global sports insurance sector, while relatively small at
Key factors to consider:
- Market Penetration: Zhibao's projected market shares (10% in 2024, 15% in 2025, 20% in 2026) are aggressive for a new entrant, especially in a specialized market.
- Revenue Projections: The forecasted revenues (
CNY 20 million in 2024,CNY 50 million in 2025,CNY 80 million in 2026) appear inconsistent with the reported global market size. - Growth Drivers: The increasing popularity of sports and fitness activities in China could drive demand, but the actual market size and growth rate in China are not specified.
The discrepancy between Zhibao's revenue projections and the reported global market size raises questions. Either the global market size is underestimated, or Zhibao's projections are overly optimistic. Investors should seek clarification on these figures and the assumptions behind them.
Despite these concerns, the partnership does position Zhibao uniquely in the Chinese market. If they can effectively leverage Sport Covers' connections with sports facilities, events and B2B channels, they could capture a significant share of the growing sports insurance market in China, even if global projections seem overstated.
Shanghai, China--(Newsfile Corp. - July 25, 2024) - Zhibao Technology Inc. (NASDAQ: ZBAO) ("Zhibao" or the "Company"), a leading and high growth InsurTech company primarily engaging in providing digital insurance brokerage services through its operating entities in China, today announced that it has reached a strategic investment cooperation with Sport Covers to jointly create a new business model of digital sports and insurance brokerage. As the wave of digitalization sweeps the world, technological innovation and digital empowerment have become the engines driving the development of the industry.
Behind this strategic investment is the high consensus between Zhibao Technology and Sport Covers on future development trends and the deep recognition of the value of technological innovation. Zhibao Technology's strong advantages in insurance brokerage and digitalization, allows Sport Covers to become the first sports insurance technology platform under a listed insurance brokerage company in China, and continue to provide digital, scenario-based and convenient sports risk protection services.
Zhibao and Sports Cover teams have already started working together, merging Zhibao's insurance expertise, technology platform, relationship with insurance companies etc. and Sports Cover's position within the sports market to offer enhanced services and solutions to the mutual end customers. The partnership provides Zhibao with deeply established connections with sports-related B-channels, including sports facilities and venues, marathons and other sporting events.
In the eight years since its establishment, Zhibao Technology has joined forces with hundreds of industry partners to provide digital insurance solutions from operations, systems, insurance products to customer service to more than 1,000 Internet platforms, enterprises, governments and offline channels, and jointly provide exclusive insurance brokerage services to many individuals and small and medium-sized enterprise customers.
The Company estimates that the strategic investment cooperation with Sports Cover will result in considerable revenue contributions over the next several years. Zhibao forecasts that the revenue increase for 2024 will be approximately CNY 20M; 2025 about CNY 50M; and an estimate of CNY 80M in 2026.
"I am pleased with the strategic partnership that we have reached with Sport Covers which will provide mutual benefits and allow both of our organizations to grow and diversify our respective customer bases," said Botao Ma, Founder, Chairman, Chief Executive Officer, Zhibao Technology. "The sports insurance market is expected to see substantial growth over the next several years and we are well positioned to realize the revenue, margin, and profitability benefits of being an active player in this dynamic industry."
In the future, the Company will continue to penetrate the sports insurance market. Through close cooperation with Sport Covers, it will provide users with more secure and convenient sports insurance services, jointly promote the development of national fitness and national sports, help more people participate in sports activities with peace of mind, enjoy a healthy life, and achieve a perfect combination of sports and protection.
According to the Industry Research group's report on the "Sports Insurance Market", the global Sports Insurance market size was valued at
Zhibao expects to successfully penetrate the sports-related insurance sector and expand its market presence over the next few years. By 2024, the Company expects to have approximately
About Zhibao Technology Inc.
Zhibao Technology Inc. ("Zhibao" or the "Company") is a leading and high growth InsurTech company primarily engaging in providing digital insurance brokerage services through its operating entities ("Zhibao China Group") in China. 2B2C ("to-business-to-customer") digital embedded insurance is the Company's innovative business model, which Zhibao China Group pioneered in China. Zhibao China Group launched the first digital insurance brokerage platform in China in 2020, which is powered by their proprietary PaaS ("Platform as a Service").
Zhibao has developed more than 40 proprietary and innovative digital insurance solutions addressing different scenarios in a wide range of industries, including but not limited to travel, sports, logistics, utilities, and e-commerce. Zhibao China Group acquire and analyze customer data, utilize big data and artificial intelligence technology to continually iterate and enhance its digital insurance solutions. This iterative process, in addition to continually improving its digital insurance solutions, will keep the Company abreast of the new trends and customer preferences in the market.
For more information, please visit the Company's website at www.zhibao-tech.com.
About Sports Covers
Sport Covers, founded in November 2015, is a leading digital sports health risk management expert in China. With the mission of "making sports healthier and more valuable", it relies on the digital SaaS system and innovatively creates a "special insurance, special sales, special control, and special service" system to help promote national sports.
In the nine years since its establishment, the company has relied on dozens of sports insurance products, the accumulation of big data on sports industry risks, the "Red Vest" offline service system, the "Kuai Ma Claims" claims service system and other targeted protection and professional services to expand its channel business to more than 30 provinces across the country and serve a total of 50 million athletes.
Forward-Looking Statements
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "is/are likely to," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions, and other factors discussed in the "Risk Factors" section of the registration statement filed with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/217641
FAQ
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