Alliance of Chinese Tech Giant with an Insurance Company

There is another change coming from Chinese Internet giants: Alibaba along with Tencent, another Chinese tech giant, and Ping An, one of the country’s largest insurance companes, has established a new online insurance company. The new company, in which Alibaba is the largest shareholder, is reportedly going to offer insurance policies tailored to the online economy, including virtual property and e-commerce. It will feature the combination of Alibaba and Tencent’s tech experience and marketing platform with Ping An’s expertise in structuring insurance packages.

This partnership illustrates how profoundly the Internet is changing established business practices in China and how powerful the country’s tech giants have become.

Sources:

http://blogs.wsj.com/chinarealtime/2013/11/06/aging-gracefully-chinas-internet-heads-to-launch-insurance-venture/

http://www.alibabagroup.com/en/global/home

http://about.pingan.com/en/index.shtml

 

 

 

 

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