Shanghai, China – Zhibao Technology Inc. (NASDAQ: ZBAO), a leading InsurTech company, announced the successful co-hosting of the first Longevity Risk Conference in Shanghai on December 8, 2024. The conference, held in collaboration with the Shanghai Insurance Exchange (SHIE) and the University of International Business and Economics in China, explored the causes and effects of longevity risk and potential solutions for China’s retirement and pension systems.
The burgeoning private pension market in China served as a key focus of the conference. According to data from Bain & Company, the total market is projected to reach approximately RMB 48 trillion by 2030, with the private pension and pension insurance market contributing about RMB 10 trillion. Prominent figures from the financial and regulatory sectors attended, including Mr. Xiaoyi Hu, President of the Chinese Society of Social Insurance and former Vice Minister of the Ministry of Human Resources and Social Security, and Mr. Yanli Zhou, former Vice Chairman of the China Insurance Regulatory Commission.
Industry leaders from Munich Re, Hannover Re, Taiping Re, and representatives from leading pension, life, health, and property & casualty insurers were also present. The conference commenced with an opening message from Dr. David Blake, Director of the UK’s Pensions Institute and Professor at the Bayes Business School of the City University of London. Speakers from China Re, Swiss Re, Reinsurance Group of America (RGA), and Hengan Pension Insurance of China presented insights on a range of topics, including international approaches to longevity risk and investment strategies to support market development.
A highlight of the event was the formal announcement of the Longevity Risk Lab (LRL), based in Shanghai. The LRL will be jointly managed by Zhibao, the Shanghai International Reinsurance Registration and Trading Center (a division of SHIE), and the Insurance School of the University of International Business and Economics. The lab’s mission is to research, evaluate, and develop solutions for longevity risks, providing the insurance industry with advanced risk management tools and methodologies.
“I am honored and humbled to be amongst experts and industry leaders representing the top of the private pension market,” stated Mr. Botao Ma, Chief Executive Officer of Zhibao, reflecting on the significance of the conference. “The private pension and pension insurance market is experiencing rapid growth and is projected to exceed $1 trillion in the coming years. This presents a significant opportunity for Zhibao to leverage our pioneering 2B2C digital embedded insurance platform and our managing general underwriter platform to reach and deliver insurance solutions to end users.”
Mr. Ma further emphasized the importance of rigorous risk evaluation within the pension insurance market. “The methodical and comprehensive evaluation of risks is critically important to ensure that the pension insurance market grows in a sustainable manner beneficial to all parties,” he added. “To this end, Zhibao and our partners at the LRL look forward to contributing to the best of our abilities.”
Zhibao is committed to innovation in the insurance sector and is dedicated to offering advanced insurance solutions for its business channels and end-users. “By organizing and participating in industry events and conferences such as today’s Conference, we reiterate our commitment to being in the forefront of innovation in the industry and providing some of the best and most innovative insurance solutions to our B channels and end users. I look forward to many future events in both this and other fields within the insurance market.”
About Zhibao Technology Inc.
Zhibao Technology Inc. (NASDAQ: ZBAO) is a prominent and rapidly expanding InsurTech company, primarily providing digital insurance brokerage services through its operating entities (“Zhibao China Group”) in China. The company pioneered a 2B2C (“to-business-to-customer”) digital embedded insurance model in the Chinese market. Zhibao China Group launched the first digital insurance brokerage platform in China in 2020, which is powered by their proprietary PaaS (“Platform as a Service”).
Zhibao has created more than 40 unique and innovative digital insurance solutions to address various scenarios across many industries, including travel, sports, logistics, utilities, and e-commerce. Leveraging big data and AI technology, Zhibao acquires and analyzes customer data to enhance its digital insurance solutions continuously. This ongoing process, in addition to continually improving its digital insurance solutions, will keep it abreast of the new trends and customer preferences in the market.
For more information, please visit: ir.zhibao-tech.com.
Forward-Looking Statements
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Investor Relations Contact
Zhibao Technology Inc. Investor Relations Office Email: ir@zhibao-tech.com
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