Zhibao Technology Inc. (NASDAQ: ZBAO)

Zhibao Technology Inc. operates as a digital insurance brokerage platform, specializing in the insurance technology (InsurTech) sector. The company pioneers the 2B2C (business-to-business-to-consumer) embedded insurance model, leveraging digital technology to provide tailored insurance solutions. Its primary focus is on facilitating insurance transactions through a proprietary platform that integrates with various business channels, enabling seamless access to insurance products for end customers.

The company generates revenue through insurance brokerage services and managing general underwriting (MGU) services. Its primary products include digital insurance brokerage solutions, which are embedded in the customer engagement channels of business partners, and MGU services that assist insurance companies in product design, underwriting, and claims management. The customer base comprises individuals, families, and small- and medium-sized enterprises (SMEs), primarily sourced through business channels that embed Zhibao’s platform.

• Insurance Brokerage Services: This segment is the company’s primary revenue driver, accounting for over 75% of its overall revenue. It involves providing embedded digital insurance brokerage services to end customers through business channels supported by Zhibao’s proprietary platform. The platform offers a range of insurance solutions, including travel, outdoor activities, sports, logistics, utilities, and e-commerce, catering to diverse customer needs. The company’s platform is the first of its kind in China, providing a wide array of insurance solutions to end customers via embedded systems in business channels’ digital platforms.

• MGU Services: Zhibao provides MGU services to insurance companies, acting as a third-party administrator (TPA) for product design, underwriting, reinsurance, claims, and risk control services. This segment focuses on high-end medical insurance and covers product design, underwriting, risk control, claims settlement, reinsurance, sales, and supplier management. The company has MGU agreements with seven insurance companies, including five domestic insurers and two international reinsurers, catering to the growing demand for high-end medical insurance in China.

Zhibao Technology Inc. holds a leading position in the 2B2C digital insurance brokerage service market in China, ranking first in terms of revenue and market share according to the Frost & Sullivan Report. The company’s competitive advantages include its pioneering 2B2C embedded insurance model, the first digital insurance brokerage platform in China powered by its proprietary Platform-as-a-Service (PaaS), and its extensive network of over 2,400 business channels. These advantages enable Zhibao to minimize customer acquisition costs and provide a stable and reliable end customer base. The company’s ongoing innovations, brand recognition, and sales and marketing strategies further solidify its competitive edge in the rapidly growing insurance market.

The company’s customer base includes over 24 million end customers, primarily individuals, families, and SMEs, who access insurance services through embedded online brokerage systems in business channels’ customer engagement channels or via Zhibao’s own WeChat Mini Program. The company’s platform connects with over 100 insurance companies, including property and casualty (P&C) insurance companies, life and pension insurance companies, health insurance companies, and other insurance institutions, providing a wide variety of insurance products to end customers.