Zhong An is China’s first fully digital insurance company that was founded in 2013 through a joint effort of Ping An, Tencent and Alibaba.  As mentioned in the link above from CB Insights, Zhong An started with a shipping insurance product for merchants and has now expanded to over 240 product lines.  They have sold 7.2 billion insurance policies, serve 492 million customers and have close to $500 million in gross written premium in 2016.  

At Daily Fintech, we have covered the lead up to the Zhong An IPO here and here.

This is big news, folks.  Here are a few thoughts as to why I think this is so big:

  • Insurtech provides a viable full stack offering to consumers
  • China has now helped to push Asia to the top of the ‘Insurtech leader’s club’
  • Alibaba first, Amazon next?

For added insight read "Competing in a world of crumbling boundaries"