HomeInsuranceLife InsuranceFanhua Publicizes the Launch of Its Open Platform

Fanhua Publicizes the Launch of Its Open Platform


Fanhua Inc.

GUANGZHOU, China, Nov. 24, 2022 (GLOBE NEWSWIRE) — Fanhua Inc. (“Fanhua” or the “Firm”) (Nasdaq: FANH), a number one unbiased monetary providers supplier in China, at the moment introduced the official launch of its open platform (the “Open Platform”) aiming to empower unbiased insurance coverage businesses and brokers available on the market.

Fanhua’s Open Platform will present numerous market individuals with entry to a standardized compliance framework, a full spectrum of services and products available on the market, main expertise and digital operation capabilities, skilled coaching and providers, and capital help. Fanhua may additionally selectively put money into or purchase certified middleman corporations to strengthen enterprise high quality management by way of fairness ties.

Mr. Hu Yinan, Chairman and CEO of Fanhua, commented on the launch of the Open Platform, “China’s life insurance coverage trade is at a stage of profound transformation. Whereas the standard pyramid construction of life insurance coverage gross sales power is falling aside, life insurance coverage gross sales groups are remodeling to develop into extra distinctly skilled, career-based and elite, and are structured in a extra flattened, small, disperse and personalised method. As such, numerous fragmented gross sales organizations and unbiased brokers are in want of a public skilled platform that may assist them guarantee compliance, obtain skilled development, supply complete life insurance coverage providers to clients, and enhance enterprise effectivity.”

“We consider what’s going to occur subsequent within the particular person life insurance coverage company enterprise in China is that whereas gross sales organizations have gotten more and more fragmented, the market of supporting platforms will develop into more and more concentrated.”

“Fanhua has been adhering to the ‘skilled again workplace platform + particular person entrepreneurship’ operation mannequin since its inception. After 24 years of growth, we now have cast a robust open platform with complete infrastructure. The open platform has been empowering our brokers of their skilled growth and profession development, demonstrated by important enchancment within the quantity and productiveness of our elite brokers. We subsequently consider it’s excessive time to make the platform open to the entire trade.”

“Following the acquisition of Zhongrong Good Finance Know-how Data Know-how Co., Ltd. (“Zhongrong”), Fanhua goals to put money into or purchase 20-30 small and medium-sized insurance coverage businesses throughout the subsequent couple of years. Via the mixing with Zhongrong’s managing common company platform, we anticipate to attach with 300-500 small and medium-sized insurance coverage businesses to empower numerous events within the trade, contributing to the transformation and long-term sustainable, high-quality growth of the trade.”

About Fanhua Inc.

Fanhua Inc. is a number one unbiased monetary providers supplier. Via our on-line platforms and offline gross sales and repair community, we provide all kinds of monetary services and products to people, together with life and property and casualty insurance coverage merchandise. We additionally present insurance coverage claims adjusting providers, comparable to injury assessments, surveys, authentications and loss estimations, in addition to value-added providers, comparable to emergency car roadside help.

Our on-line platforms embody: (i) Lan Zhanggui, an all-in-one platform which permits our brokers to entry and buy for his or her coverage holders all kinds of insurance coverage merchandise, together with life insurance coverage, auto insurance coverage, accident insurance coverage, journey insurance coverage and customary medical insurance merchandise from a number of insurance coverage corporations on their cellular gadgets; (ii) Baowang (www.baoxian.com), an internet entry portal for evaluating and buying brief time period well being, accident, journey and house owner insurance coverage merchandise and (iii) eHuzhu (www.ehuzhu.com), a non-profit on-line mutual support platform in China.

As of September 30, 2022, our distribution and repair community consisted of 697 gross sales shops protecting 23 provinces, autonomous areas and centrally-administered municipalities and 100 service shops protecting 31 provinces.

For extra details about Fanhua Inc., please go to http://ir.fanhuaholdings.com/.

Ahead-looking Statements

This press launch incorporates statements of a forward-looking nature. These statements, together with the statements referring to the Firm’s future monetary and working outcomes, are made underneath the “secure harbor” provisions of the U.S. Non-public Securities Litigation Reform Act of 1995. You may establish these forward-looking statements by terminology comparable to “will,” “expects,” “believes,” “anticipates,” “intends,” “estimates” and related statements. Amongst different issues, administration’s quotations and the Enterprise Outlook part comprise forward-looking statements. These forward-looking statements contain identified and unknown dangers and uncertainties and are primarily based on present expectations, assumptions, estimates and projections about Fanhua and the trade. Potential dangers and uncertainties embody, however usually are not restricted to, these referring to its means to draw and retain productive brokers, particularly entrepreneurial brokers, its means to keep up present and develop new enterprise relationships with insurance coverage corporations, its means to execute its development technique, its means to adapt to the evolving regulatory atmosphere within the Chinese language insurance coverage trade, its means to compete successfully in opposition to its opponents, quarterly variations in its working outcomes brought on by elements past its management and macroeconomic situations in China, future growth of COVID-19 outbreak and their potential influence on the gross sales of insurance coverage merchandise. Besides as in any other case indicated, all data supplied on this press launch speaks as of the date hereof, and Fanhua undertakes no obligation to replace any forward-looking statements to mirror subsequent occurring occasions or circumstances, or adjustments in its expectations, besides as could also be required by regulation. Though Fanhua believes that the expectations expressed in these forward-looking statements are cheap, it can not guarantee you that its expectations will develop into appropriate, and buyers are cautioned that precise outcomes could differ materially from the anticipated outcomes. Additional data relating to dangers and uncertainties confronted by Fanhua is included in Fanhua’s filings with the U.S. Securities and Trade Fee, together with its annual report on Type 20-F.

Supply: Fanhua Inc.

CONTACT: For extra data, please contact: Investor Relations Tel: +86 (20) 8388-3191 E mail: [email protected]



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