China Insurtech and Zhong An

This is Zarc from InsurView. We are covering InsurTech news in China. we have write an article about Zhong An and it is our original work. We want to share it on dailyfintech, but how can I post it?

My email is, if you want to read the article first, please contact me via email and I will share it to you.

Hi @Zarc The short answer is no, but you can post here. Here is some context:

We limit Daily Fintech to one post per day, because we believe in high signal to noise ratio, so. As we have regular Authors, this part of our platform is open to readers but closed to contributors. On our second anniversary on 29 June 2016, we opened up the platform by creating Fintech Genome, where anybody can start a conversation or join an existing conversation. It is a 24/7/365 digital conference with an unlimited number of breakout sessions. Conversations are rated by your peers so that you can see which conversations are getting traction in the global Fintech community.

It would be great if you posted here in both English and Chinese. I suggest using two different posts, one in each language.

Our Authors do look at Fintech Genome to spot interesting things, so your post may connect that way in addition to connecting directly with the community here.

Hi @Zarc,

Welcome to Fintech Genome!

I hope you take @BernardLunn’s advice and post your article here. I would love to see a good article on Zhong An.

Best regards,

@Zarc @EricForgy This was my cursory look at Zhong An from earlier this year.

I am keen to get more Asia perspective here. I used to live in Singapore and in India and travelled around the region a lot, but that was some time ago. So @Zarc please also introduce yourself and what you do to the Fintech Genome community.

Zhong An is interesting. I assume you have seen this:

ZhongAn has said in market presentations and on its website that it offers more than 300 insurance products and has written more than 7.56 billion policies for more than 535 million customers.

That is a lot of policies and a lot of customers in a short time.

As interesting as Zhong An is, I actually think Piing An is more interesting and is likely to have an even bigger impact on the rest of the world. I think Lufax is just the beginning of their outward expansion.

@EricForgy @Zarc I believe Ping An is a shareholder of Zhong An, but may have got that wrong. Yes that is is very fast traction, shows why blue ocean/greenfield markets are so good.

Hi @BernardLunn. Yes. You are correct. The three main shareholders of Zhong An are Tencent, Alibaba and Ping An.

Zhong An itself is struggling to make profit. If you note the numbers imply many small policies (per customer). They are trying to branch into more profitable lines of insurance, but as they do, they will start competing with their parent Ping An. I’m interested to see how that dynamic plays out. I think Ping An wins in terms of technology and Zhong An is no doubt using a lot of Ping An’s technology.

Ping An is also trying to export a lot of their AI tech.

Thanks for your advice Mr. Lunn.

Thanks for your advice Mr. Forgy

hi @zarc @EricForgy I have a post scheduled on Daily Fintech for Thursday on Zhong An. I will cross post it here on Fintech Genome to get the conversation going here. I am also experimenting with something. The Thursday post will also go out in Chinese (I used Google Translate which is free and better than nothing but can be pretty mangled on occasion).

Mr. Lunn
I have read the article about Zhong An. It’s a great one, using Wind Socket Analysis.
But I have a few ideas I would like to share with you
First, the quote from Mr. @EricForgy , it may not be true that Zhong An is still using Ping An’s tech, since Zhong An now has its own tech branch, which is called Zhong An Tech. They are developing techs like Blockchain, Big Data for Zhong An Insurance.
Second, the google translate is not working well for your article, the Chinese version of the article is unreadable to say the best. If you want to do more Chinese version of your articles, that would be a opportunity for us to cooperate. I can translate your articles into Chinese that can correctly express your insights. For free of course, and we can develop certain kind of partnership in the future.

By the way, Mr. Lunn, our article about Zhong An is here

Hi @Zarc

You make some good points there. I have renamed the title to make it easier to find.

Re technology, these numbers from your article tell the story:

“Right now Zhong An Insurance is investing heavily on technology development. The R&D expense from 2014 to 2016 is 22.4, 63.9 and 214.4 million RMB and accounts for 2.8%, 2.8% and 6.3% of total premium income respectively.”

One big reason to be bullish about Zhong An, which is quite different from Lending Club, is that Zhong An is a full stack service. The analogy would be Lending Club with a banking license. That is where independence from Ping An is so critical. As a father I know that children grow up and become independent. How do you say that in Chinese?

What do you think @EricForgy? Any thoughts from an America POV @amy.radin?

@Zarc it would be great if you posted here in both English and Chinese. I suggest using two different posts, one in each language.

Re language, what do you recommend - Simplified Chinese or Mandarin or both? I would love something better than Google Translate. I will send you an email so we can discuss offline.