Car owners benefiting from digitalization

Tracy Li
Song Zhenhua, vice president of ZhongAn Online P&C Insurance, says car owners are enjoying superb and efficient service beyond claim settlement.
Tracy Li
Car owners benefiting from digitalization

Car owners are enjoying superb and efficient services beyond claim settlement thanks to auto insurance digitalization, an industry insider said on Friday.

More than 30,000 car owners have been served by the cloud-based counter platform of ZhongAn Online P&C Insurance, which shortens the claim settlement time from 7-8 days to 11 minutes on average by using 5G and video technology, said Song Zhenhua, vice president of the underwriter and general manager of its auto insurance division.

Technological innovation is helping enhance customer experience, providing car owners with a one-stop car service and bringing them tangible benefits.

For instance, Song said, with the help of blockchain technology, an electronic insurance policy database can be built for auto insurance policy holders, so that their protection information can be traced back and thereby effectively avoiding the risk of policy tampering.

In the first 11 months of 2020, ZhongAn Online recorded a peak single-day signing of 33.6 million yuan (US$5.19 million) for its auto insurance segment, with total turnover jumping by 8.9 percent year on year.

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