Shanghai, China--(Newsfile Corp. - December 10, 2024) - Zhibao Technology Inc. (NASDAQ: ZBAO) ("Zhibao," "we," or the "Company"), a leading and high growth InsurTech company primarily engaging in providing digital insurance brokerage services through its operating entities in China, today announced the successful co-hosting of the first Longevity Risk Conference ("Conference") in Shanghai on December 8th, 2024. The Company worked closely with the Shanghai Insurance Exchange ("SHIE") and the University of International Business and Economics in China to co-host the Conference.
The Conference focused on the cause and effects of longevity risk, as well as transfer and mitigation measures concerning China's retirement and pension system. According to Bain & Company, by 2030, China's total pension market is expected to grow to approximately RMB 48 trillion, including approximately RMB 10 trillion contributed by the private pension and pension insurance market.
Notable participants in the Conference included Mr. Xiaoyi Hu, President of the Chinese Society of Social Insurance and former Vice Minister of the Ministry of Human Resources and Social Security, as well as Mr. Yanli Zhou, former Vice Chairman of the China Insurance Regulatory Commission. Representatives from the insurance industry also included Munich Re, Hannover Re, Taiping Re and representatives of leading pension, life, health and property & casualty insurers.
Following 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 on topics ranging from international approaches to longevity risk to investment approaches to support the development of the market.
Prior to the conclusion of the Conference, the co-hosts formally announced the launch 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 the SHIE, and the Insurance School of the University of International Business and Economics, aiming to dedicate itself to the research, evaluation and development of solutions for longevity risks, and provide scientific and systematic longevity risk management tools and methods for the insurance industry.
Zhibao's Director of Life & Annuity Business Zhe Liu at the Longevity Research Lab's official unveiling event during the conference. Ms. Liu will also serve as the Secretary General of the LRL.
"I am honored and humbled to be amongst experts and industry leaders representing the top of the private pension market," said Mr. Botao Ma, the Chief Executive Officer of Zhibao. "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."
"However, 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," continued Mr. Ma. "To this end, Zhibao and our partners at the LRL look forward to contributing to the best of our abilities."
"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 leading and high growth InsurTech company primarily engaging in providing digital insurance brokerage services through its operating entities ("Zhibao China Group") in China. 2B2C ("to-business-to-customer") digital embedded insurance is the Company's innovative business model, which Zhibao China Group pioneered in China. 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 developed over 40 proprietary and innovative digital insurance solutions addressing different scenarios in a wide range of industries, including but not limited to travel, sports, logistics, utilities, and e-commerce. Zhibao acquires and analyzes customer data, utilize big data and AI technology to continually iterate and enhance its digital insurance solutions. This iterative 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
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "is/are likely to," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions, and other factors discussed in the "Risk Factors" section of the registration statement filed with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov.
Investor Relations Contact
Zhibao Technology Inc. Investor Relations Office Email: ir@zhibao-tech.com
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