ZhongAn the online Chinese P&C insurer has sold 5.8bn policies to 460m customers over a 3yr period, an almost unfathomable sales record compared to US start-ups like Lemonade, Oscar, Clover and Ladder.
Investors excited about idea of merging insurance with big data and internet sales ZhongAn Online Property and Casualty Insurance begins trading in Hong Kong this week, launching into public markets a hot emerging asset: the insurance technology, or insurtech, company. The Shanghai-based group, which made a splash in China in 2014 selling quirky insurance products, raised $1.5bn last week, valuing the group at up to $10bn. The issuer, the first of its kind to go to initial public offering, is expected to start trading on Thursday.
https://www.ft.com/content/c9d10ada-9eb1-11e7-8cd4-932067fbf946?mhq5j=e5
