- Yonyou Network founded YouTaiAn P&C Insurance
Yonyou Network released an announcement in the evening on 26th December stating that they will align with Jiangling Motor Co., Ltd. and 6 other companies to establish YouTaiAn P&C Insurance. Yonyou will contribute 200 million RMB and take 20% of the new company’s share. The announcement also indicated that YouTaiAn will start its operation with the help of 4 key Information Technologies, i.e. Big Data, Cloud Service, Mobile Intelligence and Social Network.
- Ehuimeng closed Pre-A series funding
Intermediary service platform Shenzhen Ehuimeng has closed Pre-A funding recently. After this round of funding, Ehuimeng will keep improving efficiency and customer experience and build up-to-date risk models with collected data.
- CIRC suspended online insurance business in Huaxia Life and SooChow Life
CIRC released a statement on 28th December announcing that because of their failure to regulate Universal Life Policy, CIRC will suspend Huaxia Life and SooChow Life from operating online business and put a three-month ban on their new product application.
- Ifenzi out of service, P2P insurance is declining ?
The P2P insurance platform Ifenzi announced in its Wechat public account that they will stop operating and all the P2P policies will be terminated.
- Insgeek issued V2.0 claims settlement service
Insgeek issued their latest service package---Group Insurance Claims Settlement Service V2.0. This service will improve the claims settlement experience in large scales. This is Insgeek’s first major move after their 50 million RMB A+ funding.
- China will become the second largest insurance market in 2016
According to sources within CIRC, the premiums in the Chinese insurance market in 2016 is set to excess 3 trillion RMB and will rank 2nd in the world market.