Core Viewpoint - Zhibao Technology Inc. has secured a contract to provide its "Hui Jia Bao" inclusive homeowners' insurance product in Nanjing, aiming to address coverage gaps in the Chinese insurance market and generate significant revenue over the next three years [3][6][7]. Company Overview - Zhibao Technology Inc. is a leading InsurTech company focused on digital insurance brokerage services in China, having launched the first digital insurance brokerage platform in the country in 2020 [9][10]. - The company has developed over 40 proprietary digital insurance solutions across various industries, utilizing big data and AI technology to enhance its offerings [10]. Product Details - "Hui Jia Bao" is a starter-level homeowners' insurance product priced at CNY 99 per year, designed to make insurance more accessible for low-income individuals and families [5]. - The product is marketed as "Ning Jia Bao" in Nanjing and is backed by a panel of six leading insurers, including the People's Insurance Company of China [3][4]. Market Impact - The company anticipates that the "Hui Jia Bao" solution will generate up to CNY 230 million in premiums and CNY 46 million in revenue over the next three years [6]. - The initiative is part of a broader strategy to expand the "Hui Jia Bao" and "Hui Min Bao" products to additional cities in Jiangsu, Fujian, Yunnan, Qinghai, Shandong, Hebei, Guangdong, and Guangxi [8].
Zhibao Technology Subsidiary Sunshine Insurance Brokers Wins Contract to Provide "Hui Jia Bao" Inclusive Homeowners' Insurance in Nanjing