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Zhibao Technology

Digital embedded insurance platform connecting enterprises, internet platforms, and utility companies with end consumers across China

Distribution & Sales Growth Public
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Overview

Zhibao Technology is a digital insurance brokerage platform for enterprises, internet platforms, utility companies, and government agencies in China. The company operates a 2B2C (business-to-business-to-consumer) embedded insurance model, connecting B-channel partners to end consumers through deeply integrated digital insurance products across travel, sports, logistics, utilities, and e-commerce sectors.

The platform is built on a proprietary PaaS (Platform as a Service) architecture and delivers over 40 digital insurance solutions with 15-minute policy activation and a four-step digital claims process. In February 2026, the company deployed 10 AI agents to automate product design, underwriting, and operations -- including code auto-generation covering over 50% of daily development. Zhibao also operates a subsidiary reinsurance company, Zhibao Labuan Reinsurance Company Limited (AM Best B+), licensed in Labuan, Malaysia.

Founded in 2015 and publicly listed on NASDAQ (ZBAO) since April 2024, Zhibao serves over 3,100 B-channel partners and 27 million end consumers as of H1 fiscal year 2026. The company reported total revenues of RMB 276.9 million (USD 38.7 million) in fiscal year 2025, a 51% increase year-over-year, with gross written premiums of RMB 1.57 billion. According to Frost & Sullivan, Zhibao ranked first in China's 2B2C digital insurance brokerage services sector with approximately 17.4% market share.

Products & Services

2B2C Embedded Digital Insurance Platform

Zhibao's core platform enables B-channel partners -- enterprises, internet platforms, utility companies, and government agencies -- to embed tailored insurance products into their customer-facing services. The platform provides over 40 proprietary digital insurance solutions with fully digital purchase and claims workflows.

Key Features

  • PaaS architecture for rapid B-channel integration
  • 15-minute policy activation after online purchase
  • Four-step fully digital claims process
  • AI-powered customer behavior analysis and product iteration

Target Users: Enterprises, internet platforms, utility companies, government agencies

Natural Gas and Utility Insurance

A dedicated insurance distribution channel through partnerships with natural gas utility companies. Policies cover property damage, third-party liability, emergency housing stipends, and accident protection for residential customers. The segment generated nearly RMB 100 million (USD 14.5 million) in total premiums in 2025.

Key Features

  • Coverage starting at CNY 100 (USD 14) annually
  • Embedded into natural gas utility billing and service touchpoints
  • Targets a residential property insurance market under 0.7% penetration in China

Target Users: Residential property owners via utility company partnerships

Sports Insurance Platform

An embedded insurance platform for sporting event organizers and participants. The platform covered 1.47 million participants across 17,569 sporting events in 2025.

Key Features

  • Digital enrollment for event organizers and individual participants
  • Covers sports accidents and liability
  • Large-scale event management capability

Target Users: Sports event organizers, individual athletes and participants

Drone Insurance for Individual Operators

Launched March 2026 in partnership with Sichuan Fanmo Technology Co., Ltd. (F+More), this is the first digital insurance product for individual drone pilots in China. Coverage starts at CNY 395 (USD 57) per year, with instant digital purchase and a four-step online claims process.

Key Features

  • Coverage starting at CNY 395 (USD 57) per year
  • Instant digital purchase and four-step online claims
  • Targeting China's low-altitude economy (RMB 500 billion market)

Target Users: Individual drone pilots and operators

AI Agents Platform

Launched February 2026, Zhibao deployed 10 AI agents across operational functions including product design, platform operations, customer service, and mid-to-high-end medical insurance underwriting and quotation.

Key Features

  • AI Insurance Application Development (auto-generates 50%+ of daily code)
  • AI Product Management and Placement
  • AI Mid-to-High-End Medical Insurance Underwriting and Quotation
  • Seven additional AI agents across operational functions

Target Users: Internal operations, underwriting teams, platform operators

Risk Manager (C-end Consumer Brand)

A direct-to-consumer sub-brand providing insurance consulting, risk assessment, customized plan recommendations, and health management services for individual consumers.

Key Features

  • Insurance plan customization and product recommendation
  • Claims settlement assistance
  • Health management services

Target Users: Individual consumers

Zhibao Labuan Reinsurance Company Limited

A wholly-owned subsidiary licensed by the Labuan Financial Services Authority (April 2025) for general reinsurance operations outside mainland China, supporting Zhibao's brokerage and managing general underwriting growth.

Key Features

  • AM Best B+ rated
  • Supports international reinsurance for Zhibao's MGU operations
  • Licensed in Labuan, Malaysia

Target Users: Carriers, reinsurers, international insurance markets

At a Glance

Founded
2015
Headquarters
Shanghai, China
Employees
51-200
Funding
Public

Category & Focus

Category
Distribution & Sales
Subcategories
Embedded Insurance Digital Brokerage PaaS Insurance Platform
Insurance Verticals
P&C Personal P&C Commercial Specialty/E&S Reinsurance
Target Customers
Carriers, Brokers, MGAs/MGUs, Consumers

Customers

  • Sichuan Fanmo Technology Co., Ltd. (F+More) -- drone service partnership
  • Beijing Zhongfang Hongchuang -- joint venture partner
  • Guangzhou Ruiling -- joint venture partner
  • Zhonglian Jinan Insurance Brokers -- 51% equity acquisition (September 2025)

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Last updated: 2026-06-21