Zhibao Technology's Subsidiary, Sunshine Insurance Brokers, Wins Contract to Provide "Huiminbao" Inclusive Medical Insurance in China's Yunnan Province
Zhibao Technology Inc. (NASDAQ: ZBAO) announced that its subsidiary, Sunshine Insurance Brokers, has won a contract to provide brokerage services for Huiminbao Inclusive Medical Insurance in Baoshan, Yunnan. Baoshan, with over 2 million residents, is western Yunnan's second-largest city.
Huiminbao offers affordable supplementary insurance with annual premiums starting at CNY 99, protecting customers against severe illnesses, including those with pre-existing conditions. Sunshine currently operates seven active Huiminbao projects as of January.
This contract expands Sunshine's presence in Yunnan Province, which has a population exceeding 47 million. The company already manages a province-wide inclusive homeowner's insurance project and developed a comprehensive insurance product for cross-border travelers, serving 14 million trips in 2023.
Zhibao Technology Inc. (NASDAQ: ZBAO) ha annunciato che la sua filiale, Sunshine Insurance Brokers, ha vinto un contratto per fornire servizi di intermediazione per l'assicurazione medica inclusiva Huiminbao a Baoshan, Yunnan. Baoshan, con oltre 2 milioni di residenti, è la seconda città più grande della parte occidentale dello Yunnan.
Huiminbao offre un'assicurazione supplementare accessibile con premi annuali a partire da 99 CNY, proteggendo i clienti contro malattie gravi, compresi quelli con condizioni preesistenti. Sunshine gestisce attualmente sette progetti attivi di Huiminbao a partire da gennaio.
Questo contratto espande la presenza di Sunshine nella provincia dello Yunnan, che ha una popolazione superiore ai 47 milioni. L'azienda gestisce già un progetto di assicurazione per proprietari di casa inclusiva a livello provinciale e ha sviluppato un prodotto assicurativo completo per i viaggiatori transfrontalieri, servendo 14 milioni di viaggi nel 2023.
Zhibao Technology Inc. (NASDAQ: ZBAO) anunció que su filial, Sunshine Insurance Brokers, ha ganado un contrato para proporcionar servicios de corretaje para el seguro médico inclusivo Huiminbao en Baoshan, Yunnan. Baoshan, con más de 2 millones de residentes, es la segunda ciudad más grande del oeste de Yunnan.
Huiminbao ofrece un seguro suplementario asequible con primas anuales a partir de 99 CNY, protegiendo a los clientes contra enfermedades graves, incluidas aquellas con condiciones preexistentes. Sunshine actualmente opera siete proyectos activos de Huiminbao desde enero.
Este contrato amplía la presencia de Sunshine en la provincia de Yunnan, que tiene una población que supera los 47 millones. La empresa ya gestiona un proyecto de seguro inclusivo para propietarios de viviendas a nivel provincial y ha desarrollado un producto de seguro integral para viajeros transfronterizos, atendiendo a 14 millones de viajes en 2023.
지바오 테크놀로지 주식회사 (NASDAQ: ZBAO)는 자회사인 선샤인 보험 중개인이 윈난성 바오산에서 후이민바오 포괄 의료 보험을 위한 중개 서비스 계약을 체결했다고 발표했습니다. 바오산은 200만 명 이상의 주민을 가진 윈난 서부의 두 번째로 큰 도시입니다.
후이민바오는 연간 보험료가 99 CNY부터 시작되는 저렴한 보충 보험을 제공하며, 기존 질환이 있는 고객도 심각한 질병으로부터 보호합니다. 선샤인은 1월 현재 7개의 활성 후이민바오 프로젝트를 운영하고 있습니다.
이번 계약은 인구가 4700만 명이 넘는 윈난성에서 선샤인의 입지를 확장합니다. 이 회사는 이미 전역에서 포괄적인 주택 소유자 보험 프로젝트를 관리하고 있으며, 2023년에는 1400만 건의 여행을 지원하는 해외 여행자를 위한 종합 보험 상품을 개발했습니다.
Zhibao Technology Inc. (NASDAQ: ZBAO) a annoncé que sa filiale, Sunshine Insurance Brokers, a remporté un contrat pour fournir des services de courtage pour l'assurance médicale inclusive Huiminbao à Baoshan, Yunnan. Baoshan, avec plus de 2 millions d'habitants, est la deuxième plus grande ville de l'ouest du Yunnan.
Huiminbao propose une assurance complémentaire abordable avec des primes annuelles à partir de 99 CNY, protégeant les clients contre les maladies graves, y compris celles avec des conditions préexistantes. Sunshine gère actuellement sept projets actifs de Huiminbao depuis janvier.
Ce contrat élargit la présence de Sunshine dans la province du Yunnan, qui compte plus de 47 millions d'habitants. L'entreprise gère déjà un projet d'assurance habitation inclusif à l'échelle provinciale et a développé un produit d'assurance complet pour les voyageurs transfrontaliers, servant 14 millions de voyages en 2023.
Zhibao Technology Inc. (NASDAQ: ZBAO) gab bekannt, dass ihre Tochtergesellschaft, Sunshine Insurance Brokers, einen Vertrag zur Bereitstellung von Maklerdiensten für die Huiminbao Inklusive Krankenversicherung in Baoshan, Yunnan, gewonnen hat. Baoshan, mit über 2 Millionen Einwohnern, ist die zweitgrößte Stadt im westlichen Yunnan.
Huiminbao bietet erschwingliche Zusatzversicherungen mit Jahresprämien ab 99 CNY, die Kunden gegen schwere Krankheiten schützen, einschließlich solcher mit bestehenden Vorerkrankungen. Sunshine betreibt derzeit sieben aktive Huiminbao-Projekte seit Januar.
Dieser Vertrag erweitert Sunsines Präsenz in der Provinz Yunnan, die mehr als 47 Millionen Einwohner hat. Das Unternehmen verwaltet bereits ein landesweites inklusives Wohngebäudeversicherungsprojekt und hat ein umfassendes Versicherungsprodukt für grenzüberschreitende Reisende entwickelt, das 2023 14 Millionen Reisen bedient.
- Won new contract for Huiminbao insurance brokerage in Baoshan, accessing 2+ million potential customers
- Currently operating seven active Huiminbao projects
- Expanding market presence in Yunnan Province (47+ million population)
- Successful track record with existing province-wide homeowner's insurance project
- Developed new cross-border insurance product serving 14 million trips in 2023
- None.
Insights
The securing of the Huiminbao contract in Baoshan marks a strategic expansion in China's rapidly evolving inclusive insurance market. With Baoshan's population of 2 million and Yunnan's total population of 47 million, this represents a significant addressable market for Zhibao's insurance products.
The CNY 99 annual premium structure of Huiminbao is particularly noteworthy in the context of China's push for universal healthcare coverage. This pricing strategy, while appearing low, can drive substantial volume-based revenues through high penetration rates. The success of similar programs in other Chinese provinces typically achieves 30-40% adoption rates in urban areas, suggesting potential enrollment of 600,000-800,000 people in Baoshan alone.
Sunshine's diversified product portfolio in Yunnan, including homeowner's insurance and cross-border travel coverage, creates valuable cross-selling opportunities and operational synergies. The 14 million cross-border trips recorded in 2023 represent a particularly lucrative market segment, as these specialized insurance products typically command higher premiums and margins compared to basic medical coverage.
The company's expansion strategy aligns with China's broader policy goals of improving insurance penetration in western provinces, where coverage rates traditionally lag behind eastern coastal regions. This government backing, combined with Sunshine's established presence through seven active projects, positions the company favorably for capturing market share in this high-growth region.
Shanghai, China--(Newsfile Corp. - February 19, 2025) - Zhibao Technology Inc. (NASDAQ: ZBAO) ("Zhibao," "we," 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 its subsidiary, Sunshine Insurance Brokers ("Sunshine"), won the contract to provide brokerage services for Huiminbao Inclusive Medical Insurance in Baoshan, Yunnan. Baoshan is a provincial-level city in western China with a population exceeding 2 million and is the second largest city in western Yunnan Province.
The mission of Huiminbao is to protect customers, including those with pre-existing medical conditions, against severe illnesses, It is intended as a cost-effective supplementary insurance to lessen the financial burden of out-of-pocket expenses for services, offering annual premiums as low as CNY 99 per year. Sunshine Insurance Brokers is a leading provider of Huiminbao brokerage services, with seven active projects this January.
This project also expands Sunshine's presence in Yunnan Province, which has a population of over 47 million people. Sunshine's existing projects in Yunnan includes a province-wide inclusive homeowner's insurance project in Yunnan launched last year. Additionally, Sunshine developed a new product to provide comprehensive insurance covering people entering China through the Yunnan land borders. This product provides medical, accident and liability coverage for those making cross-border trips for work or other purposes, totaling 14 million trips in 2023.
"I am excited about the opportunity to expand our presence in the western provinces to provide affordable and practical solutions to people in the region," said Zhibao's Chief Executive Officer, Mr. Botao Ma. "Winning this contract is a meaningful addition to the other insurance options that our Company has provided in the Yunnan province and demonstrates our business' commitment to implementing our growth strategy. I am confident that our ability to offer a diverse range of insurance options to a population of several million people and successfully penetrate these markets, will be a central component to drive revenue growth, margin expansion, profitability and shareholder value," added Mr. Botao Ma.
About Zhibao Technology Inc.
Zhibao Technology Inc. (NASDAQ: ZBAO) 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 over 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 acquires and analyzes customer data, utilize big data and AI technology to continually iterate and enhance its digital insurance solutions. This iterative process, in addition to continually improving its digital insurance solutions, will keep it abreast of the new trends and customer preferences in the market. For more information, please visit: 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.
Investor Relations Contact
Zhibao Technology Inc.
Investor Relations Office
Email: ir@zhibao-tech.com
Skyline Corporate Communications Group, LLC
Scott Powell, President
Avenues Tower
1177 Avenue of the Americas, 5th floor
New York, NY 10036
Office: (646) 893-5835
Email: info@skylineccg.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241446
FAQ
What is the significance of ZBAO's new Huiminbao contract in Baoshan, Yunnan?
How much does ZBAO's Huiminbao insurance cost in Yunnan Province?
How many active Huiminbao projects does ZBAO's Sunshine Insurance Brokers currently operate?
What is ZBAO's market reach in Yunnan Province as of 2025?
What types of insurance products does ZBAO offer in Yunnan Province?
