Zhibao Technology Inc., a China-based InsurTech company specialising in digital insurance brokerage, has announced that it has entered into an agreement to establish a joint venture with Beijing Zhongfang Hongchuang Technology Company Limited, a wholly owned subsidiary of the China Disaster Prevention Association, and Guangzhou Ruiling Intelligent Technology Co., Ltd., a provider of intelligent technology solutions.
The three parties intend to address key areas, including government emergency management, workplace safety in corporate environments, and disaster prevention and mitigation for residential communities.
Under the agreement, Zhibao will hold a 40% stake in the joint venture, while Zhongfang and Ruiling will each hold 30%.
The parties have agreed to pursue a long-term collaboration that combines Zhibao’s expertise in technology and risk management with the China Disaster Prevention Association’s disaster data resources and Ruiling’s technical capabilities.
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The venture’s scope is expected to include the joint development of customised risk management products, the creation of a digital service platform integrating monitoring, early warnings, insurance coverage, and post-disaster recovery, and initiatives to promote disaster prevention technologies through industry events and forums.
The collaboration also envisions working with financial institutions to support research, innovation, and infrastructure for disaster monitoring and prevention, as well as cooperating with industry associations and research bodies to establish standards for risk management services, products, and supply chains.
According to the parties, the joint venture is intended to strengthen the integration of insurance services, technology innovation, and risk prevention efforts to enhance safety and resilience across China.
“We believe our cooperation with CDPA and Ruiling relating to this JV company can be a transformative step in our mission to redefine insurance services through technology,” commented Botao Ma, Chairman and CEO of the Company.
“By uniting our AI-driven risk management platform with CDPA’s authoritative expertise and data, we believe we are poised to create a new paradigm for proactive risk mitigation. We believe this ‘Insurance + Tech + Disaster Prevention’ model will not only deliver added value to our partners, customers, and shareholders, but also make a important contribution towards building a more resilient society.”
The CDPA added: “As the cooperation deepens, all parties believe that they will aim to leverage their strengths in technology research and development, resource integration, and industry leadership to accelerate the deep integration of risk management technology with disaster prevention and mitigation practices; and this cross-disciplinary collaboration not only injects innovative momentum into disaster prevention and mitigation, but also serves as a catalyst for the industry’s exploration of sustainable development models.”
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