- Company's leadership in digitization of auto insurance is
recognized by recent iResearch report
BEIJING, Sept. 22,
2023 /PRNewswire/ -- Cheche Group Inc. (NASDAQ: CCG)
("Cheche" or the "Company"), China's leading auto insurance technology
platform, today announced a successful, ongoing collaboration with
Li Auto (NASDAQ: LI) as Cheche continues to broaden its partner
network with leaders in the new energy vehicle ("NEV")
industry.
Li Auto, one of the leading NEV manufacturers in China, announced sales of more than 34,000 new
vehicles in August 2023, a more than
660% increase in production volume compared to the same timeframe
last year. Through strategic cooperation and innovative technology
solutions, Cheche facilitated the digital insurance transactions
and related services for over 60% of Li Auto's new vehicles during
the period, illustrating the robust insurance capabilities Cheche
offers to NEV brands.
At the time of Li Auto's announcement, Cheche had cumulatively
served over 150,000 vehicles produced by Li Auto. The number of Li
Auto owners who will use these embedded digital insurance services
is expected to reach 300,000 by the end of this year.
"The explosive growth of the NEV market in China is reshaping how consumers obtain and
renew auto insurance, bringing greater transparency, efficiency,
and compliance to what had previously been a highly fragmented
market," said Lei Zhang, Founder, CEO and Chairman of Cheche.
"Cheche is proud of the partnerships we have formed with
China's leading NEV manufacturers
and the ecosystem of insurers and value-added partners we have
assembled. Our solution offers consumers a wider range of choices
while deepening the ongoing brand relationship beyond the purchase
of a new vehicle."
As a leading Insurtech company in China, Cheche is a digital "connector" in the
automotive ecosystem, building a software and data bridge between
insurance companies, NEV manufacturers, and distributors.
iResearch Recognition
iResearch recently recognized Cheche's valuable contributions by
including it in its August 2023 "Top
30 Service Providers of Insurance Digitization" report, which
recognizes achievements that both individual enterprises and the
industry have made in digital transformation. Digital trends are
driving unprecedented opportunities and challenges in China's insurance industry. Cheche, along with
Ping An Technology, CPIC Technology, Zhong An Technology, and other
well-known industry leaders, are setting a benchmark with their
outstanding technological capabilities and innovations.
iResearch explores the digital transformation trends among
insurance institutions from a global perspective. Utilizing experts
from insurance, fintech companies, technology service providers,
science and technology academic units, and many other fields, they
evaluate the companies based on criteria such as innovation,
technological output, and market influence, analyzing the digital
development of China's insurance
industry and other drivers better to understand the paths and
strategies of these institutions.
"We are gratified by this recognition," said Lei Zhang. "Cheche
has always been committed to promoting the digital transformation
of the insurance industry with outstanding technological
capabilities. Relying on big data, cloud computing, blockchain, AI,
and other technologies, Cheche is developing new digital service
capabilities for all aspects of the insurance industry value chain
and providing new solutions to the industry."
Leveraging its auto insurance foundation and close partnerships
with manufacturers, Cheche has built a sophisticated digital auto
insurance service platform for manufacturers that includes SaaS
systems, API management of insurers, digital operations,
value-added product innovations, and a nationwide service network
upgrade.
With the NEV market consistently evolving, expanding customer
touchpoints has become increasingly important. Cheche has provided
strong support for NEV manufacturers to efficiently acquire
customers through the portal that connects customers and agents.
Driven by the application of new technologies such as advanced
driver assistance systems, Cheche and its network of insurance
companies and intermediaries are innovating online insurance to
provide users with more personalized and comprehensive
coverage.
Cheche is committed to continuing to drive digital
transformation and innovation throughout the insurance ecosystem
through its extensive network of partners, deep technological
capability and culture of execution.
About Cheche Group Inc.
Established in 2014 and headquartered in Beijing, China, Cheche is a leading auto
insurance technology platform with a nationwide network of around
110 branches licensed to distribute insurance policies across 24
provinces, autonomous regions, and municipalities in China. Capitalizing on its leading position in
auto insurance transaction services, Cheche has evolved into a
comprehensive, data-driven technology platform that offers a full
suite of services and products for digital insurance transactions
and insurance SaaS solutions in China. Learn more at
https://www.chechegroup.com/en.
Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
"estimate," "plan," "project," "forecast," "intend," "will,"
"expect," "anticipate," "believe," "seek," "target" or other
similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. These
forward-looking statements also include but are not limited to,
statements regarding projections, estimates, and forecasts of
revenue and other financial and performance metrics, projections of
market opportunity and expectations, the Company's ability to scale
and grow its business, the Company's advantages and expected
growth, and its ability to source and retain talent, as applicable.
These statements are based on various assumptions, whether or not
identified in this press release, and on the current expectations
of the Company's management and are not predictions of actual
performance. These statements involve risks, uncertainties and
other factors that may cause the Company's actual results, levels
of activity, performance, or achievements to be materially
different from those expressed or implied by these forward-looking
statements. Although the Company believes that it has a reasonable
basis for each forward-looking statement contained in this press
release, the Company cautions you that these statements are based
on a combination of facts and factors currently known and
projections of the future, which are inherently uncertain. The
forward-looking statements in this press release represent the
views of the Company as of the date of this press release.
Subsequent events and developments may cause those views to change.
Except as may be required by law, the Company does not undertake
any duty to update these forward-looking statements.
Cheche Group Inc.:
IR@chechegroup.com
Crocker Coulson
crocker.coulson@aummedia.org
(646) 652-7185
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SOURCE Cheche Group Inc.
