Zbao Launches Revolutionary Drone Insurance Solution As Chinas Low-Altitude Economy Soars

The Low-Altitude Economy in China: A Growing Industry with Increasing Demand for Drone Insurance

Zhibao Technology Launches Groundbreaking Drone Insurance Solution for Individual Operators, Strengthening Its Position in China’s Rapidly Expanding Low-Altitude Economy

In a significant move to tap into the rapidly growing low-altitude economy in China, Zhibao Technology Inc. (NASDAQ: ZBAO), a leading high-growth InsurTech company, has launched a specialized insurance product designed specifically for individual drone pilots. This innovative solution marks a strategic breakthrough for Zhibao in the low-altitude economy, which is expected to be introduced as a key emerging pillar industry in China’s 15th Five-Year Plan.

The low-altitude economy, currently valued at RMB 500 billion (approximately USD 72 billion), is projected to grow at a sustained pace supported by government initiatives. According to the Civil Aviation Administration of China (CAAC), the industry is expected to reach CNY 3.5 trillion (approximately USD 507 billion) in 2035, with over 2 million drones already registered in China.

As the demand for drone-specific insurance continues to increase alongside the growth of the drone industry, Zhibao’s launch of this innovative solution is poised to capitalize on this trend. The company’s proprietary Platform-as-a-Service (PaaS) enables F+More, a leading drone service provider in China, to provide highly relevant and scalable insurance products quickly and efficiently.

The new online insurance product features a mobile-friendly, fully online purchasing process, allowing consumers to secure coverage instantly from their mobile devices. This user-centric approach aligns with the preferences of tech-savvy demographics, who prefer digital speed and accessibility when it comes to purchasing insurance.

Comprehensive annual coverage for the full value of a drone starts at approximately CNY 395 (USD 57) per year, providing protection for the full value of the drone in case of loss or damage. The policy offers customizable coverage options, allowing customers to tailor their coverage to specific needs.

Fast and Digital-first Policy Management

The new insurance module is fully integrated into Zhibao’s PaaS, offering a streamlined user experience:

Instant Activation: Qualified customers can complete applications online, with policies becoming effective as quickly as 15 minutes after payment. Simple Claims: Claims can be filed digitally through a simplified four-step process. Customizable Coverage: Plan coverages are modular and can be tailored to specific user needs.

By leveraging its strengths in the individual and small- and medium-enterprise (SME) segments, Zhibao is helping F+More provide more comprehensive and scalable services. The scalability and flexibility of Zhibao’s 2B2C business model and PaaS are well-suited to serving individual and SME customers across diverse industries and sectors.

Zhibao Technology Inc. is a leading high-growth InsurTech company primarily engaging in providing digital insurance brokerage services through its operating entities (“Zhibao China Group”) in China. The company’s innovative 2B2C digital embedded insurance model has been pioneered in China, and it launched the first digital insurance brokerage platform in China in 2020.

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. The company acquires and analyzes customer data, utilizes big data and AI technology to continually iterate and enhance its digital insurance solutions.

Sichuan Fanmo Technology Co., Ltd is a leading drone service provider in China that has been steadily advancing with a development strategy of “specialization, standardization, and globalization.” The company aims to leverage its accumulated data and algorithmic abilities to address industry pain points, aiming to become a service-leading, objective, fair, and data- & algorithm-driven professional third-party service provider.

F+More has provided coverage for multiple risk scenarios, including inspection, security, surveying, and mapping, and has established after-sales cooperation with multiple drone manufacturers. Its three major products include F+More Feibao, F+More Excellent+, and F+More Cloud E.

Zhibao Technology’s launch of its innovative drone insurance solution for individual operators is a significant milestone in the company’s strategic positioning within the low-altitude economy. By providing a scalable and flexible solution that meets the needs of both F+More and its customers, Zhibao is strengthening its position in China’s rapidly expanding industry.

The low-altitude economy holds immense potential for growth and innovation, driven by government initiatives and technological advancements. As the demand for drone-specific insurance continues to increase, companies like Zhibao are well-positioned to capitalize on this trend. With a solid foundation of proprietary technology and a customer-centric approach, Zhibao is poised to become a leading player in China’s low-altitude economy.

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