2018 has been off to a strong start with the establishment of insurance technology company Aibao Insurance Technology Co., Ltd. in Beijing. Aibao Insurance Technology is established based on the principle of "joint company establishment, joint technology innovation, joint market promotion, and joint capital support" to realize all-win situation. The highly accomplished investor lineup consists of PICC's extensive resources and brand endorsements in the insurance industry as well as abundant resources from 58.com and Bitauto in the automobile industry, insurance, consumer life and other vertical sectors. Its data and technology development is endorsed by world-leading tech giant Solera Holdings Inc.
Currently, insurance technology industry is seeing rapid innovation. The mission of Aibao Insurance is to make everyone loves insurance and to become a first-class insurance technology platform. In terms of its business model, "insurance + technology + service" will be the core value, using technology to power insurance, utilizing insurance to integrate services, dedicating itself to building five major engines of precision marketing and smart estimation.
Solera’s APAC COO & Audatex APAC Managing Director Brian Seldess participated in the opening ceremony behalf of the company, he shared his view on the investment saying “China as one of the fastest growing insurance market in the world, has always been a strategic landscape in Solera global footprint. In fact, we established our presence in China through our biggest children company Audatex since 2007. Being at the forefront of technology innovation, we have always been a pioneer in digitalization. Audatex has helped the insurers to optimize workflow, increase efficiency and work effectiveness in millions of cases. Based on its AI technology development, we believe Aibao can be a game changer to the industry, bringing more competencies to local insurer and significantly advance local practice.”