China-based CNinsure has announced that Baoxian.com, an independent online insurance distributor in which CNinsure owns a majority of the equity interests, entered into an online distribution agreement with PICC Property and Casualty Company.
Travel insurance and personal accident insurance products from PICC P&C will be available at www.baoxian.com in the coming months.
In addition to more customized accident insurance products, both parties will gradually extend their online distribution cooperation to include home owner insurance and personal liability insurance for mid-to-high end customers.
Baoxian.com has partnered with over 20 insurance companies, including some major domestic insurance companies such as Ping An Property & Casualty Insurance Company of China, Ltd., China Pacific Property Insurance Co., Ltd., and offers over 500 accident, health, travel and homeowner insurance products online.
Commenting on the cooperation, Mr. Chunlin Wang, CNinsure’s chief executive officer, stated, "We are excited to get PICC P&C on board www.baoxian.com as a product supplier. We believe its strong brand recognition and the popularity of its products among customers will attract more traffic to the website. This marks significant progress in our endeavor to establish our leading position in the independent online insurance distribution market and reaffirms our confidence in pushing forward our e-commerce strategy."