Zhibao Technology Launches New Partnership with PICC & Munich Re to Develop New Medical Insurance Products in China
Zhibao Technology (NASDAQ: ZBAO) announced a strategic partnership with PICC Property and Casualty Company and Munich Re Beijing to launch new medical insurance products in China. The collaboration aims to develop private medical insurance products providing access to premium medical resources unavailable under public insurance, targeting China's growing middle class.
Under the partnership, Zhibao will handle customer service, policy management, and claims processing, while offering access to its medical network for direct billing. PICC will issue and distribute policies through its 3,000 branch offices, and Munich Re will provide reinsurance capacity and technical expertise.
The company expects the first product to launch in the coming months, generating millions of RMB in premiums in its first year with projected double-digit year-on-year revenue growth over the next three years.
Zhibao Technology (NASDAQ: ZBAO) ha annunciato una partnership strategica con PICC Property and Casualty Company e Munich Re Beijing per lanciare nuovi prodotti assicurativi medici in Cina. La collaborazione mira a sviluppare prodotti di assicurazione medica privata che forniscano accesso a risorse mediche di alta qualità non disponibili sotto l'assicurazione pubblica, mirando alla crescente classe media della Cina.
Nel quadro della partnership, Zhibao gestirà il servizio clienti, la gestione delle polizze e l'elaborazione dei sinistri, offrendo l'accesso alla propria rete medica per la fatturazione diretta. PICC emetterà e distribuirà le polizze attraverso i suoi 3.000 uffici, mentre Munich Re fornirà capacità di riassicurazione e competenze tecniche.
La società prevede che il primo prodotto sarà lanciato nei prossimi mesi, generando milioni di RMB in premi nel suo primo anno, con una crescita previsionale delle entrate a doppia cifra anno dopo anno nei prossimi tre anni.
Zhibao Technology (NASDAQ: ZBAO) anunció una asociación estratégica con PICC Property and Casualty Company y Munich Re Beijing para lanzar nuevos productos de seguro médico en China. La colaboración tiene como objetivo desarrollar productos de seguro médico privado que proporcionen acceso a recursos médicos de alta calidad no disponibles bajo el seguro público, orientándose a la creciente clase media de China.
En el marco de la asociación, Zhibao se encargará del servicio al cliente, la gestión de pólizas y el procesamiento de reclamaciones, ofreciendo acceso a su red médica para facturación directa. PICC emitirá y distribuirá pólizas a través de sus 3.000 oficinas, y Munich Re proporcionará capacidad de reaseguro y experiencia técnica.
La compañía espera que el primer producto se lance en los próximos meses, generando millones de RMB en primas en su primer año, con un crecimiento de ingresos proyectado de dos dígitos año tras año en los próximos tres años.
지바오 테크놀로지 (NASDAQ: ZBAO)는 PICC 재산 및 상 해보험 회사 및 뮌헨 재보험 베이징과 전략적 파트너십을 체결하고 중국에서 새로운 의료 보험 상품을 출시한다고 발표했습니다. 이번 협력은 공공 보험으로는 접근할 수 없는 프리미엄 의료 자원에 접근할 수 있도록 하는 민간 의료 보험 상품 개발을 목표로 하며, 이는 중국의 증가하는 중산층을 겨냥하고 있습니다.
파트너십에 따라 지바오는 고객 서비스, 정책 관리 및 청구 처리 업무를 담당하며, 직접 청구를 위한 의료 네트워크에 대한 접근을 제공합니다. PICC는 3,000개의 지사를 통해 정책을 발행하고 배포하며, 뮌헨 재보험은 재보험 능력과 기술 전문성을 제공합니다.
회사는 첫 번째 상품이 향후 몇 개월 내에 출시될 것으로 예상하며, 첫 해에 수백만 RMB의 보험료를 발생시키고 향후 3년간 연평균 두 자릿수 수익 성장을 목표로 하고 있습니다.
Zhibao Technology (NASDAQ: ZBAO) a annoncé un partenariat stratégique avec PICC Property and Casualty Company et Munich Re Beijing pour lancer de nouveaux produits d'assurance médicale en Chine. Cette collaboration vise à développer des produits d'assurance maladie privés offrant un accès à des ressources médicales de premier choix non disponibles via l'assurance publique, en ciblant la classe moyenne croissante de la Chine.
Dans le cadre de ce partenariat, Zhibao se chargera du service client, de la gestion des polices et du traitement des réclamations, tout en offrant un accès à son réseau médical pour une facturation directe. PICC émettra et distribuera les polices via ses 3.000 bureaux, et Munich Re fournira des capacités de réassurance et une expertise technique.
L'entreprise s'attend à ce que le premier produit soit lancé dans les mois à venir, générant des millions de RMB de primes au cours de sa première année, avec une croissance des revenus projetée à deux chiffres d'une année sur l'autre au cours des trois prochaines années.
Zhibao Technology (NASDAQ: ZBAO) gab eine strategische Partnerschaft mit PICC Property and Casualty Company und Munich Re Beijing bekannt, um neue Krankenversicherungsprodukte in China einzuführen. Die Zusammenarbeit zielt darauf ab, Privatkrankenversicherungsprodukte zu entwickeln, die Zugang zu hochwertigen medizinischen Ressourcen bieten, die unter der öffentlichen Versicherung nicht verfügbar sind, und richtet sich an die wachsende Mittelschicht Chinas.
Im Rahmen der Partnerschaft wird Zhibao den Kundenservice, die Policenverwaltung und die Schadensbearbeitung übernehmen und den Zugang zu seinem medizinischen Netzwerk für die direkte Abrechnung anbieten. PICC wird Policen über seine 3.000 Filialen ausstellen und vertreiben, während Munich Re Rückversicherungskapazitäten und technische Expertise bereitstellt.
Das Unternehmen erwartet, dass das erste Produkt in den kommenden Monaten auf den Markt kommt und im ersten Jahr Millionen von RMB an Prämien erwirtschaftet, mit einer prognostizierten zweistelligen jährlichen Umsatzwachstumsrate in den nächsten drei Jahren.
- Strategic partnership with major industry leaders PICC and Munich Re
- Access to PICC's extensive distribution network of 3,000 branch offices
- Expected to generate millions of RMB in premiums in first year
- Projected double-digit year-on-year revenue growth for next three years
- None.
Insights
Shanghai, China--(Newsfile Corp. - December 5, 2024) - Zhibao Technology Inc. (NASDAQ: ZBAO) ("Zhibao" or the "Company"), a leading and high growth InsurTech company primarily engaged in providing digital insurance brokerage services through its operating entities in China, today announced a strategic partnership with PICC Property and Casualty Company Limited ("PICC") and Munich Re Beijing to launch a new generation of medical insurance products in China. The first product to launch under this strategic partnership and is expected to be available to consumers in the coming months.
The three parties closely worked together to develop an innovative private medical insurance product for Chinese individuals, providing them access to top-quality medical resources unavailable under public insurance.
This joint collaboration will leverage the strengths of each partner to deliver a comprehensive and innovative medical insurance solution tailored to meet the needs of China's growing middle class.
Zhibao Technology, with its deep understanding of the Chinese insurance markets and experience in the high-end medical space, played a crucial role in the development of this product, and will be responsible for customer service, policy management and claims processing for the new product. Members will also gain access to the Company's extensive medical network for seamless direct billing across greater China. Finally, the product will be distributed through the Company's 2B2C Digital Insurance Brokerage platform, reaching millions of end users through our various B Channels.
PICC, one of the world's largest property and casualty insurance companies and the largest in Mainland China, will issue and distribute policies through their extensive network of 3,000 branch offices, including 36 provincial-level branches nationwide. Munich Re, a global reinsurance leader, will provide reinsurance capacity through their Beijing Branch, alongside their robust risk management and technical expertise.
"We are excited to partner with PICC and Munich Re to launch this innovative medical insurance product," said Mr. Botao Ma, Chief Executive Officer of Zhibao Technology. "This collaboration will allow us to leverage our strengths and industry knowledge to provide a superior customer experience and drive significant growth for our business."
"Private medical insurance is an underserved market in China. By partnering with industry leaders like PICC and Munich Re, this product benefits from phenomenal brand recognition, credibility, and market reach," Mr. Ma continued. "Through the strength of all parties involved, I expect this product to generate millions of RMB in premiums in its first year, contributing towards Zhibao's annual revenue, with double digit year-on-year revenue growth rate for the product over the next three years."
"I strongly believe this new product will be warmly received by the Chinese public and is simply the starting point of a fruitful collaboration for all three parties. This strategic partnership underscores Zhibao's long-standing commitment to providing innovative insurance solutions and driving growth within the Chinese insurance markets."
About Zhibao Technology Inc.
Zhibao Technology Inc. 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 ir.zhibao-tech.com.
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.
Contact Information:
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Zhibao Technology Inc.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232597
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