Zhongan Online Announced 2021 Interim Results
Adhering to mission of "Empowering the finance business with technologies and providing insurance services with a caring hand", ZhongAn Online leverages its proprietary technology and ecosystem integration advantages to provide all-around ecosystem-oriented services to customer and to promote insurance inclusion continuously.
In the first half of 2021, the Company recorded gross written premiums of approximately
The Company adheres to the philosophy of "Technology for Social Good" and actively fulfills corporate social responsibilities and practices public welfare. In the first half of 2021, the Company launched series of inclusive insurance with simplified and customized terms and value-added services to the unserved populations with real protection needs. During the pandemic and
Accelerated exploration of new scenarios and continuous iteration of product mix in the health ecosystem to facilitate the construction of Healthy China
During the Period, ZhongAn Online brought the internet-based "insurance + medical care + medicine" closed-loop strategy to the next level. By fully leveraging the advantageous role as a payer in the health ecosystem and proactively connecting with more ecosystem partners including pharmaceutical companies, medical device companies, and optional medical companies, the Company endeavored to provide better services to a wider customer base and to increase users' lifetime value.
In the first half of 2021, the health ecosystem recorded a total GWP of
Adhering to the commitment of "providing national medical insurance for over 100 million people", ZhongAn Online enriched product matrix, actively participated in the government-endorsed "HuiMinBao" project, and make every effort to promote inclusive insurance with affordable protection for different demographics. As the medical scenarios became more diversified, health ecosystem service and product offerings extended along the value chain from required medical scenarios such as inpatient and critical illness, to the daily needs of the outpatient and emergency, chronic disease management, health management, rehabilitation management, and optional medical. The Company is committed to refined operation in every process from consultation to post-operative care, to better serve the users' entire life cycle to improve the overall health status.
The Company are closely deploying digital medical scenarios through internet hospital services. By fully integrating internet hospital services into more medical insurance products, ZhongAn Online now provides 24/7 online video medical advice, electronic prescription and e-pharmacy services through its in-house and external teams of doctors.
Innovative products serve the diversified digital life of users and drive the rapid growth of the digital lifestyle ecosystem
ZhongAn Online tap the incremental market by continuous innovation of new product verticals. This year, the Company continues to iteratively upgrade product offerings and services in the digital lifestyle ecosystem, GWP from digital lifestyle ecosystem increased by 52% to
The company complies with the decentralization trend of the e-commerce ecosystem, merges mature insurance products such as shipping return policies into more distribution channels and new consumption scenarios. ZhongAn Online launched innovative products such as phone screen crack insurance, pet insurance, family property insurance and accident insurance, and recorded breakthroughs within the Period. GWP from innovative business grew by over 130% year-on-year, contributing nearly 20% in the digital lifestyle ecosystem and fully penetrated to digital lifestyle scenarios of users.
Building brand and proprietary platforms under a customer-centric approach to deepen cross-selling effect
ZhongAn Online has been focused on optimizing the cross-selling effect across ecosystems and delivering refined operations under a customer-centric approach. In the first half of 2021, the GWP generated through proprietary platforms grew by 48% year-over-year to
Through omnichannel marketing strategy, the number of followers on mainstream short video sites has exceeded 10 million. ZhongAn closely follows the latest cultural trends such as Guochao and Hip-Hop among Millennials and Gen Z. By integrating brand building with its cultural insights, the Company has successfully deepened its customer interface and seen higher level of activity among users. The accumulated views of its user-generated content (UGC) across all platforms hit approximately 820 million, and the brand received a total of roughly 16 billion page views in the first half of 2021, demonstrating the value of the Company's brand building efforts.
Prospering technology segment generating significant value
In the first half of 2021, ZhongAn recorded revenue from technology segment of
In response to regulatory policies, ZhongAn was the first company in the industry to roll out a visual backtracking product in 2020. As of now the product has been offered to 48 clients. This year the Company continues to explore potential market opportunities in RegTech and has launched products related to regulatory data reporting, helping foster sustainable and complied development of the industry.
ZhongAn positions itself not only as a cutting-edge technology service provider, but also a trusted business partner that offers its leading business models to both domestic and international insurance companies. The Company has made continuous strides in technology segment in overseas markets. In the first half of 2021, ZhongAn has further expanded geographically, covering more countries in
The Company's virtual bank,
As the first licensed virtual bank to open its digital doors in
ZA Insure upholds its mission to provide insurance to customers and dedicates to providing insurance products that everyone can afford through internet platforms for residents 24/7. The Company hopes to apply its fintech capabilities and insights into customers in
As the only technology company in
ZhongAn will continue to adhere to its two-winged strategy of "Insurance + Technology", its belief "Tech for good" and its pursuit of "quality growth". The Company will uphold its mission of "empowering the finance business with technologies and providing insurance services with a caring hand" and drive product innovations with technology capabilities. The Company expects to foster development in building its brand and proprietary platforms. ZhongAn aims to provide ecosystem-oriented insurance solutions to further promote the concept of inclusive insurance. The company will also closely follow the regulations and development plans, help foster digital transformation of insurance industry and build a Healthy China with its cutting-edge technological capabilities and proven business models.
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SOURCE Zhongan Online