SunCar Technology Group Inc. (NASDAQ: SDA)

SunCar Technology Group Inc. provides cloud AI mobile app based auto eInsurance services technology services and auto services in China.

The company operates a digital platform that connects insurance companies auto service providers and enterprise customers to deliver integrated insurance and after market auto solutions.

Through this platform SunCar enables customers to purchase insurance policies schedule maintenance services and access value added offerings such as designated driver and roadside assistance.

The business model relies on a network of over 64 000 sales partners and over 48 000 third party service providers spread across 31 cities in 20 provinces.

The company generates revenue primarily through commissions received from insurance companies for policies sold via its platform.

Commissions are typically a percentage of the premium paid by policyholders and vary by product type insurer and region.

SunCar also earns service fees from enterprise customers for customized auto service solutions and from technology customers for SaaS based software tools.

Additional income comes from referral fees paid to auto service providers and insurance sales partners for successful policy referrals.

SunCar Technology Group Inc. operates through the following three segments: auto eInsurance auto services and technology business.

• The auto eInsurance segment intermediaries auto insurance policies underwritten by major Chinese insurers and collects commissions based on a percentage of the premium paid by policyholders.

• It uses an AI powered online portal to provide real time quotations policy selection and payment processing connecting customers to a wide range of insurance products.

• The segment also offers value added services such as intelligent policy pricing predictive maintenance alerts and automated claims assistance through its AI driven digital tools.

• The auto services segment provides customized after market auto service solutions to enterprise customers through a network of over 48 000 third party service providers.

• Services include routine maintenance such as oil change and car wash as well as reserved services like designated driver flight pickup and roadside assistance.

• The segment manages service quality data security and on demand flexibility by using a smart order distribution system that matches each request to the best available provider.

• The technology business segment develops and monetizes proprietary software including customer relationship management order management finance management and visual analysis tools offered as SaaS based subscriptions to auto service providers insurance partners and external clients.

• The segment also creates embedded insurance and service platforms for EV OEMs enabling digital insurance renewals and AI powered service recommendations within vehicle apps.

• Revenue from this segment grew to 54 million dollars in 2025 reflecting increasing demand for digital tools that streamline workflow and improve operational efficiency.

SunCar Technology Group Inc. holds a leading position in China’s fragmented auto eInsurance and integrated auto service markets by leveraging its large scale digital platform and extensive partner network.

The company competes with traditional insurance agencies online insurance brokers and other auto service aggregators but differentiates itself through AI powered technology real time data processing and deep relationships with top tier insurance companies and EV manufacturers.

Its competitive advantages include a proprietary hybrid cloud infrastructure ISO27001 certification and a library of over 160 registered software copyrights that support rapid innovation and data security.

Furthermore SunCar’s ability to cross sell auto services to insurance clients and to offer insurance referrals through its auto service network creates synergistic revenue streams that are difficult for rivals to replicate.

SunCar Technology Group Inc. serves over 1 520 enterprise customers including major banks insurance companies technology firms and automotive manufacturers.

Specific bank partners include Bank of China Industrial and Commercial Bank of China China Merchants Bank China Construction Bank Agricultural Bank of China Bank of Communications China CITIC Bank and Shanghai Rural Commercial Bank.

Insurance company partners comprise PICC P&C Ping An P&C CPIC P&C China Continent Property & Casualty Insurance TPI and other regional insurers representing more than 90 percent of the market share.

Technology and EV OEM partners consist of Tesla Xiaomi NIO Li Auto XPeng Zeekr Leapmotor SAIC Motor Seres AVATR Huawei and other leading electric vehicle manufacturers.

The company also works with China Post to expand its distribution network and collaborates with numerous online platforms offline auto service providers and insurance sales partners to reach a broad base of end consumers.

As of the end of 2025 the platform had over 64 000 sales partners and over 48 000 third party service providers enabling it to deliver services across 31 cities in 20 provinces.