Core Insights - Zhibao Technology's subsidiary, Sunshine Insurance Brokers, has entered a strategic partnership with F+More to tap into China's low-altitude economy insurance market, projected to reach RMB 3.5 trillion by 2035 [2][6][10] - The partnership aims to leverage Sunshine's digital insurance brokerage capabilities and F+More's expertise in the low-altitude economy to create customized insurance products for the drone sector [4][10] Company Overview - Zhibao Technology Inc. is a leading InsurTech company in China, focusing on digital insurance brokerage services and has pioneered a B2B2C digital embedded insurance model [11] - Sunshine Insurance Brokers has launched digital insurance brokerage services for F+More's clients, aiming to cover all provinces in China [3][4] Market Opportunity - The low-altitude economy, which includes commercial drones and urban air mobility, is expected to grow significantly, with the low-altitude insurance market projected to reach RMB 8-10 billion by 2035 [6][7] - The low-altitude airspace economy in China exceeded RMB 500 billion in 2023, indicating substantial growth potential for specialized insurance providers [6] Strategic Collaboration - The partnership integrates real-time flight data with risk assessment mechanisms, enabling rapid policy customization and automated claims processing [4][5] - Both companies aim to establish competitive advantages in the low-altitude insurance landscape through joint development of insurance products [4][5] Industry Developments - Recent advancements, such as the successful public road test flight of a flying car, signal a shift towards commercialization in the low-altitude economy [8] - China is positioned to benefit from these trends due to its strategic advantages in drone technology and logistics [8][9]
Zhibao Technology's Subsidiary, Sunshine Insurance Brokers, Expands into Low-Altitude Economy Insurance Market Through Strategic Cooperation with F+More