Thursday, April 26, 2018

China’s Sina to venture into internet insurance

Sina, a technology firm based in China, is planning a foray into the internet insurance market, following in the footsteps of the country’s big three internet players Alibaba, Tencent and Baidu.

The company, which operates one of the major social media and web portals in China, is set to partner with controlling interest Xingmin Insurance Brokers to offer insurance products on its platform.

In theory, the platform can sell any legal insurance product, once it has acquired the licence.

At the moment, the most popular insurance products on the internet are short-term accident insurance, low priced medical insurance and critical illness insurance.

 

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