Business
Zhibao Technology Launches New Partnership with PICC & Munich Re to Develop New Medical Insurance Products in China
Shanghai, China--(Newsfile Corp. - December 5, 2024) - Zhibao Technology Inc. (NASDAQ: ZBAO) ("Zhibao" or the "Company"), a leading and high growth InsurTech
About this update from Zhibao Technology Inc.
[{"type":"text","content":"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.\nThe 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.\nThis 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.\nZhibao 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.\nPICC, 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.\n\"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.\"\n\"P...