算法理想折戟兑付承诺 百保君高额返利成泡影

Core Insights - The article highlights the issues faced by the Baibaokun platform, particularly regarding delayed payouts and unfulfilled promises to consumers [1][2][3] Group 1: Consumer Complaints - Multiple consumers have reported that Baibaokun failed to deliver promised rewards and refunds, leading to numerous complaints on social media and complaint platforms [2][3] - As of November 17, 2025, complaints related to Baibaokun have reached dozens, with amounts ranging from thousands to tens of thousands of yuan [2] - The platform's promise of returning value through rewards has not been met, causing dissatisfaction among users [3][9] Group 2: Business Model and Operations - Baibaokun's business model relies heavily on a "rebate" system, where consumers purchase rights to receive higher-value rewards, creating a "no-loss" scenario [3][4] - The platform's operational strategy involves user acquisition through subsidies, which has led to a shift from its original insurance sales model to a reliance on "rights products + rebates" [7][9] - The company has faced legal scrutiny, with investigations initiated by law enforcement due to the scale of complaints and potential financial misconduct [2][6] Group 3: Company Background and Development - Baibaokun was established in October 2020, incubated by ZhongAn Technology, with a focus on data-driven algorithmic insurance [10][12] - The company has undergone several rounds of financing, raising millions in angel and pre-A rounds, indicating initial investor confidence [13][14] - Despite its technological aspirations, the recent payout failures reveal significant operational flaws and a deviation from its intended business model [12][14]