ZhongAn to help in digital transformation

ZhongAn Online P&C Insurance announced on Wednesday that it is sharing more technological strengths to the entire insurance industry, in a bid to empower digital transformation for small insurers, insurance intermediaries and agents.

The move comes amid the National Development and Reform Commission’s initiative of promoting the digital transformation of small and medium-sized enterprises and supporting high-quality economic development after the disruption caused by COVID-19.

Because of the pandemic, a vast number of small businesses are having operational difficulties and the insurance sector is no exception. Moving business online and pursuing digital upgrading have become all the more important.

As the country's first online underwriter, ZhongAn plans to offer nine free courses on digital transformation to more than 200 insurance companies and 2,400 intermediary firms nationwide.

Factoring companies, for example, will benefit from ZhongAn’s sharing of blockchain technology and how to make supply chain transformations.

The training courses aim to help around 100 small enterprises achieve digital transformation.

For undergraduates or those who are receiving higher vocational education, a set of career simulation courses will be provided free of charge.

At the same time, 2,000 accounts for logging on to a big data innovation platform will be provided free to small companies. A machine learning platform, for instance, will showcase artificial intelligence model development and life cycle management for the digital transformation of enterprises.

In addition, ZhongAn will open up its block chain capability to small firms, to enable their assets to be quickly linked up and circulated.