China’s first online insurance company ZhongAn has officially announced its ZhongAn IT Services subsidiary. The newly founded startup will use ZhongAn and its external partners to research and develop artificial intelligence (AI), blockchain, cloud computing, and data-driven technologies.
China’s First Online Insurance Firm Initiates the ‘ABCD Plan’
ZhongAn Online Property & Casualty Insurance was China’s first online insurance company. Partners Ant Financial, Tencent, and Ping An founded it in 2013. Now the service has over 460 million customers and 5.8 billion policies under its management. Then in the summer of 2015, it raised 5.78 billion yuan ($931.3 million USD).
The company is now focusing on its “ABCD plan” which aims to harness AI, blockchain, cloud management, and data-driven applications. Soon, the ZhongAn Technology subsidiary will launch its services using the blockchain cloud platform.
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