Latest news with #InsurTech
Yahoo
3 days ago
- Business
- Yahoo
JPMorgan Backs RIL Despite Margin Pressures
On Thursday, analysts at JPMorgan reaffirmed their Overweight rating on Reliance Global Group, Inc. (NASDAQ:RELI), while raising the price target to INR1,568 from INR1,530, representing an upside of over 8% from the current levels. In their analysis, the analysts cited that although refining and petrochemical margins have dropped, the downside risk is likely to remain modest throughout the year. An insurance agent talking to a customer in their home office about healthcare insurance options. Having said that, the one-third contribution of the oil-to-chemical (O2C) segment means that there will only be a marginal impact on the consolidated EBITDA. Additionally, the Retail and Telecom segments are anticipated growth catalysts for Reliance Global Group, Inc. (NASDAQ:RELI), driven by favorable base influences. With the Spetner's Associates acquisition completion, the management believes that the strategic traction will accelerate the company's market footprint and expand the agency network. This improvement through synergies and other unanticipated positive factors could translate to higher margins and cost savings. The optimism surrounding EBITDA from the Telecom and Retail sectors can also not be overlooked. Reliance Global Group, Inc. (NASDAQ:RELI) is an InsurTech company that emphasizes acquiring and managing wholesale and retail insurance agencies across the United States. Founded in 2013, the giant leverages technology to transition from the conventional insurance agency model. While we acknowledge the potential of RELI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure. None.
Yahoo
7 days ago
- Business
- Yahoo
iCover Launches AI-based assistance to iCover Direct
CHESTERFIELD, Mo. , June 3, 2025 /PRNewswire/ -- iCover, a Missouri-based Insurtech adds AI-based Persona driven assistance on the direct-to-consumer platform iCover Direct™ ( Persona AI segmentation uses artificial intelligence to create and refine customer recommendations by analyzing datasets and automatically suggesting products based on life stage, personal preferences and individual identity. From an end user perspective, the personas start with similar pre-set buying attributes and present the best options based on individual questionnaire responses. "We are obsessed with making the life insurance buying experience as simple as possible for the consumer. Persona AI is our latest effort to simplify the needs analysis process by leveraging the best of AI and our consumer insights." (Nicole Mwesigwa, COO & Product leader for iCover). About iCover iCover is an AI-based algorithmic underwriting platform that helps insurers sell to the middle market. By leveraging data and predictive analytics iCover can quote, underwrite, and deliver life insurance in under 5 minutes. iCover was built by industry insiders Hari Srinivasan and Nicole Mwesigwa who applied their 30+ years of InsurTech experience and intimate knowledge of automated underwriting technologies. To learn more about iCover, visit CONTACT: Hari Srinivasan, hari@ View original content to download multimedia: SOURCE iCover
Yahoo
7 days ago
- Business
- Yahoo
iCover Launches AI-based assistance to iCover Direct
CHESTERFIELD, Mo. , June 3, 2025 /PRNewswire/ -- iCover, a Missouri-based Insurtech adds AI-based Persona driven assistance on the direct-to-consumer platform iCover Direct™ ( Persona AI segmentation uses artificial intelligence to create and refine customer recommendations by analyzing datasets and automatically suggesting products based on life stage, personal preferences and individual identity. From an end user perspective, the personas start with similar pre-set buying attributes and present the best options based on individual questionnaire responses. "We are obsessed with making the life insurance buying experience as simple as possible for the consumer. Persona AI is our latest effort to simplify the needs analysis process by leveraging the best of AI and our consumer insights." (Nicole Mwesigwa, COO & Product leader for iCover). About iCover iCover is an AI-based algorithmic underwriting platform that helps insurers sell to the middle market. By leveraging data and predictive analytics iCover can quote, underwrite, and deliver life insurance in under 5 minutes. iCover was built by industry insiders Hari Srinivasan and Nicole Mwesigwa who applied their 30+ years of InsurTech experience and intimate knowledge of automated underwriting technologies. To learn more about iCover, visit CONTACT: Hari Srinivasan, hari@ View original content to download multimedia: SOURCE iCover Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
02-06-2025
- Automotive
- Yahoo
Middle East and Africa Motor Insurance Market Forecast 2025-2030 by Coverage, Vehicle Age, Application, Distribution Channel and Country
Opportunities include leveraging InsurTech innovations, expanding usage-based insurance, and catering to increasing demand for EV-specific and comprehensive policies amidst enhanced regulatory reforms. Dublin, June 02, 2025 (GLOBE NEWSWIRE) -- The "Middle East and Africa Motor Insurance Market, By Country, Competition, Forecast and Opportunities, 2020-2030F" has been added to offering. The Middle East and Africa Motor Insurance Market was valued at USD 44.88 Billion in 2024 and is expected to reach USD 66.47 Billion by 2030, rising at a CAGR of 6.76%. The market is expanding due to rising vehicle ownership, regulatory mandates, and increasing road traffic risks. Governments in countries like Saudi Arabia, the UAE, and South Africa have implemented compulsory motor insurance laws, driving market growth. The surge in digital insurance platforms and telematics-based policies is transforming the industry, offering personalized premiums based on driving behavior. Key Market Drivers Regulatory Mandates and Government Policies The enforcement of compulsory motor insurance laws across several countries in the Middle East and Africa is a primary driver of market growth. Countries such as Saudi Arabia, the UAE, South Africa, and Egypt have implemented strict regulations requiring vehicle owners to obtain at least third-party liability coverage. In Saudi Arabia, for example, the Saudi Central Bank (SAMA) has mandated motor insurance for all registered vehicles, with significant penalties for non-compliance. Similarly, the UAE's Insurance Authority enforces strict motor insurance guidelines under Federal Law No. 6 of 2007, making third-party liability insurance mandatory. South Africa operates under the Road Accident Fund (RAF) system, providing compensation to road accident victims, indirectly influencing the uptake of insurance policies. Governments are promoting digital platforms for policy registration and claim processing, increasing transparency and efficiency. Insurers are expected to comply with regulatory frameworks that frequently evolve, especially with the introduction of InsurTech solutions, anti-fraud measures, and data-driven risk assessments. These regulatory developments not only drive demand for motor insurance but also push companies to innovate and offer more comprehensive, customized coverage plans. Rising Vehicle Ownership and Urbanization Rapid urbanization and growing disposable incomes in Middle Eastern and African countries have led to increased vehicle ownership, boosting demand for motor insurance. Countries like the UAE, Saudi Arabia, and South Africa have witnessed a surge in car sales due to expanding middle-class populations and government investments in road infrastructure. In 2023, the Kingdom of Saudi Arabia experienced a substantial increase in car imports, rising to 93,300 vehicles from 66,900 the previous year. Meanwhile, Egypt, Nigeria, and Kenya are experiencing rising car ownership due to growing economies and increased availability of vehicle financing options. High congestion levels in major cities such as Dubai, Riyadh, Cairo, and Johannesburg contribute to greater accident risks, making insurance essential for financial protection. The influx of electric vehicles (EVs) and hybrid models has also expanded the scope of specialized insurance policies tailored for modern vehicle technology. As urban populations grow and more individuals purchase cars, demand for motor insurance will continue its upward trajectory, ensuring protection against liabilities and vehicle damages. Technological Advancements and InsurTech Growth The digital transformation of the insurance sector, driven by InsurTech innovations, telematics, and AI-driven solutions, is significantly reshaping the motor insurance market in the Middle East and Africa. Insurers are increasingly adopting telematics-based insurance, which uses GPS and sensor-based tracking to monitor driving behavior, allowing for usage-based insurance (UBI) models. Companies such as AXA, RSA, and local insurers in the UAE and South Africa integrate AI-powered risk assessment tools to offer personalized insurance premiums. The rise of digital insurance platforms, mobile apps, and blockchain technology has made it easier for customers to purchase policies, renew coverage, and file claims seamlessly. The UAE's insurance sector, for example, has seen a significant rise in online policy purchases, with digital-first insurers gaining market share. In South Africa, companies like Discovery Insure use telematics to reward safe driving, reducing accident rates and enhancing customer engagement. Artificial intelligence and machine learning help insurers detect fraudulent claims, a major concern in the region. The combination of digital transformation, InsurTech startups, and data analytics-driven underwriting is improving operational efficiency, making insurance more accessible and affordable for a broader customer base. Increasing Road Accidents and Theft Rates The growing incidence of road accidents and vehicle theft across Middle Eastern and African countries is another major factor driving demand for motor insurance. In Africa, the World Health Organization (WHO) estimates that road traffic accidents cause over 250,000 deaths annually, making it one of the deadliest regions for road safety. Countries such as Nigeria, Kenya, and South Africa report high accident rates due to poor road infrastructure, lack of enforcement of traffic laws, and unsafe driving practices. South Africa, in particular, experiences significant road fatalities and carjackings, prompting many vehicle owners to invest in comprehensive insurance policies. In the Middle East, increased vehicle density and high-speed road networks, especially in countries like the UAE and Saudi Arabia, contribute to frequent accidents. Dubai alone reported over 1,800 road accidents in 2023, reinforcing the necessity for robust insurance coverage. Additionally, car theft remains a growing concern, particularly in African nations where stolen vehicles are often trafficked across borders. The rising financial risks associated with accidents, theft, and vehicle damage continue to push consumers and businesses toward comprehensive motor insurance, ensuring adequate financial protection against unforeseen events. Key Market Challenges Low Insurance Penetration and Awareness One of the biggest challenges facing the motor insurance market in the Middle East and Africa is the low penetration rate, particularly in several African countries. Despite regulatory mandates in some nations, a large proportion of vehicle owners either do not purchase insurance or only opt for the minimum legally required third-party liability coverage. In Africa, motor insurance penetration remains below 3% in many countries due to a lack of awareness, economic constraints, and general distrust in insurance companies. Many drivers perceive motor insurance as an unnecessary expense rather than a financial safeguard, leading to widespread non-compliance. In Nigeria, for example, the National Insurance Commission (NAICOM) estimates that over 70% of vehicles on the road are uninsured, despite laws requiring mandatory coverage. Similarly, informal and unregulated insurance markets thrive in some regions, offering low-cost policies that often fail to provide adequate coverage. The challenge is compounded by inadequate enforcement mechanisms, with authorities struggling to ensure compliance due to a lack of proper vehicle registration systems. Insurance companies must invest heavily in public awareness campaigns and digital outreach strategies to educate consumers on the benefits of motor insurance, while governments need to enhance regulatory enforcement to boost compliance rates. High Claims Fraud and Regulatory Inefficiencies Fraudulent claims and weak regulatory enforcement pose significant challenges for motor insurance providers across the Middle East and Africa. Insurance fraud, including staged accidents, inflated repair costs, and falsified claims, leads to massive financial losses for insurers, ultimately driving up premium costs for consumers. In South Africa, the South African Insurance Crime Bureau (SAICB) estimates that insurance fraud costs the industry billions of rand annually, with motor insurance being one of the most affected segments. Similarly, in the UAE and Saudi Arabia, fraudulent claims have become a growing concern, prompting insurers to adopt AI-driven fraud detection measures. However, many insurance markets in Africa lack the technological infrastructure and data-sharing mechanisms needed to combat fraud effectively. Additionally, regulatory inefficiencies in certain countries create an environment where fraudulent activities can go unchecked. Some nations have slow and bureaucratic claims settlement processes, leading to customer dissatisfaction and an erosion of trust in the insurance sector. Moreover, inconsistent regulatory frameworks across different countries create hurdles for international insurance companies operating in the region. Addressing these challenges requires enhanced data analytics, AI-based fraud detection systems, cross-border regulatory collaboration, and stricter enforcement of insurance laws to ensure market stability. Economic Instability and Currency Fluctuations Economic instability, inflation, and currency fluctuations significantly impact the growth and profitability of the motor insurance sector in the Middle East and Africa. Many African nations experience high inflation rates, reducing consumers' disposable incomes and making insurance coverage unaffordable for a large portion of the population. For example, in Nigeria and Ghana, inflation has driven up vehicle maintenance costs, making comprehensive motor insurance less attractive to consumers who prioritize immediate expenses over long-term financial protection. Additionally, volatile exchange rates in several African and Middle Eastern economies create challenges for insurers that rely on imported vehicle spare parts and repair services. The depreciation of local currencies against the U.S. dollar or euro results in higher claims settlement costs, forcing insurers to adjust premium rates frequently. This economic volatility discourages long-term investments in the insurance sector and limits the ability of insurers to expand their customer base. In the Middle East, although economies like the UAE and Saudi Arabia are relatively stable, oil price fluctuations impact economic growth, influencing consumer spending patterns, including insurance purchases. To mitigate these challenges, insurers must develop localized pricing strategies, introduce microinsurance options, and leverage partnerships with financial institutions to offer flexible premium payment plans. Key Market Trends Growth of Digital and InsurTech Solutions The adoption of digital platforms and InsurTech solutions is transforming the motor insurance market in the Middle East and Africa, making policies more accessible and efficient. Insurers are increasingly leveraging artificial intelligence (AI), big data analytics, and blockchain to streamline policy issuance, risk assessment, and claims processing. In the UAE, leading insurers such as AXA and RSA are integrating digital underwriting and AI-powered fraud detection to enhance operational efficiency. South African insurers like Discovery Insure have introduced telematics-based usage-based insurance (UBI), allowing customers to pay premiums based on their driving behavior. Mobile-first insurance models are gaining popularity in African nations, where smartphone penetration is high but traditional banking and insurance infrastructure remains limited. Companies like BIMA and aYo use mobile technology to offer microinsurance plans, making it easier for vehicle owners to obtain coverage via mobile payments. Additionally, blockchain technology is improving transparency in claims processing, reducing fraud, and enhancing trust between insurers and customers. The trend toward digitalization is expected to continue, with more insurance companies investing in AI-driven chatbots, automated claims settlement, and cloud-based policy management to improve customer experiences and expand market penetration. Expansion of Usage-Based and Pay-As-You-Drive Insurance The increasing demand for flexible and personalized insurance solutions has led to the rise of usage-based insurance (UBI) and pay-as-you-drive (PAYD) models across the Middle East and Africa. These policies, which leverage telematics devices or mobile apps to track real-time driving behavior, offer lower premiums for safe drivers and encourage responsible driving habits. In South Africa, Discovery Insure's Vitality Drive program rewards drivers with lower premiums and fuel discounts based on their driving scores. Similarly, UAE-based companies like Tokio Marine and Oman Insurance are experimenting with telematics-driven PAYD models, particularly for younger drivers who face higher traditional insurance costs. The growing adoption of electric vehicles (EVs) and ride-hailing services has further fueled interest in these flexible insurance plans, as they provide more cost-effective options for low-mileage drivers. Additionally, partnerships between insurers and automotive companies are increasing, with vehicle manufacturers integrating telematics devices into new models to facilitate data-driven insurance pricing. As technology adoption increases, more insurers in Africa and the Middle East are expected to offer UBI and PAYD policies, aligning premiums with actual vehicle usage and driving patterns to attract a broader customer base. Rising Demand for Comprehensive and EV-Specific Insurance The shift toward electric vehicles (EVs) and luxury automobiles in the Middle East and Africa has created a growing demand for specialized motor insurance products. With government initiatives promoting EV adoption-such as Saudi Arabia's Vision 2030 and the UAE's Green Mobility Program-insurers are developing tailored coverage options to address the unique risks associated with EVs, including battery replacement, charging station damage, and software-related issues. Tesla and other EV manufacturers have partnered with local insurers in markets like Dubai to offer comprehensive insurance solutions that cater to EV owners' needs. In Africa, where fuel prices and environmental concerns are driving demand for hybrid and electric vehicles, insurers are beginning to introduce policies that cover EV-specific repair costs and specialized maintenance requirements. Additionally, luxury car owners in high-net-worth regions like the UAE and Saudi Arabia are demanding premium insurance plans with added benefits such as roadside assistance, international coverage, and high-value theft protection. As consumer preferences shift toward high-end and sustainable mobility solutions, insurers are expanding their product portfolios to offer more comprehensive and customized policies, catering to both traditional and emerging vehicle segments. Regulatory Reforms and Strengthened Compliance Measures Governments across the Middle East and Africa are implementing stricter regulatory reforms to enhance compliance and transparency in the motor insurance sector, shaping market trends and improving consumer protection. In Saudi Arabia, the Saudi Central Bank (SAMA) has introduced measures to enforce real-time vehicle insurance verification, reducing uninsured driving rates and improving policy compliance. Similarly, the UAE's Insurance Authority has mandated the digital integration of insurance databases with traffic departments to streamline policy enforcement and fraud detection. In Africa, countries like Nigeria and Kenya are strengthening motor insurance regulations by introducing digital insurance platforms and expanding the reach of compulsory third-party liability insurance. The push for regulatory standardization is also driving greater international collaboration, with insurance associations working to harmonize compliance requirements across borders. Additionally, anti-fraud initiatives, such as AI-powered claim verification and biometric policyholder authentication, are being adopted to minimize fraudulent activities and ensure fair pricing. These regulatory developments are expected to create a more structured and reliable motor insurance market, encouraging higher penetration rates and fostering consumer trust in the industry. Segmental Insights Vehicle Age Insights: The new vehicle insurance segment was the fastest-growing in the Middle East and Africa motor insurance market, driven by increasing vehicle sales, rising disposable incomes, and government regulations mandating insurance for newly registered cars. Countries like Saudi Arabia, the UAE, and South Africa are witnessing a surge in SUVs, electric vehicles (EVs), and luxury car purchases, boosting demand for comprehensive insurance policies. Additionally, automakers and dealers are partnering with insurers to offer bundled coverage with new car sales. As digital platforms and telematics-based pricing gain traction, insurers are focusing on customized and technology-driven policies, further accelerating the segment's growth. Country Insights: Saudi Arabia dominated the Middle East and Africa motor insurance market, driven by its large vehicle population, strict regulatory enforcement, and high insurance penetration. With over 12 million registered vehicles, the country has a well-regulated insurance sector, overseen by the Saudi Central Bank (SAMA), ensuring compliance with mandatory motor insurance laws. Additionally, rising disposable incomes and increasing sales of luxury cars and electric vehicles (EVs) are fueling demand for comprehensive policies. The government's digital initiatives, such as real-time insurance verification systems, further strengthen the market. As a result, Saudi Arabia remains the most influential player in the regional motor insurance industry. Key Players Profiled in the Middle East and Africa Motor Insurance Market Momentum Group QIC Group Allianz SE Sukoon Insurance PJSC Abu Dhabi National Insurance Company (ADNIC) Gulf Insurance Group Hollard Life Assurance Company Ltd. MS&AD Insurance Group Holdings National Takaful Company PJSC Auto & General Insurance Company Limited Report Scope In this report, the Middle East and Africa Motor Insurance Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below: Middle East and Africa Motor Insurance Market, By Coverage: Liability Coverage Collision Coverage Comprehensive Insurance Others Middle East and Africa Motor Insurance Market, By Vehicle Age: New Vehicle Old Vehicle Middle East and Africa Motor Insurance Market, By Application: Commercial Vehicle Personal Vehicle Middle East and Africa Motor Insurance Market, By Distribution Channel: Insurance Agents/Brokers Direct Response Banks Others Middle East and Africa Motor Insurance Market, By Country: Saudi Arabia UAE Egypt Qatar Oman South Africa Turkey Nigeria Rest of Middle East & Africa Key Attributes Report Attribute Details No. of Pages 134 Forecast Period 2024-2030 Estimated Market Value (USD) in 2024 $44.88 Billion Forecasted Market Value (USD) by 2030 $66.47 Billion Compound Annual Growth Rate 6.7% Regions Covered Africa, Middle East For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Associated Press
27-05-2025
- Business
- Associated Press
Zhibao Technology's Subsidiary, Sunshine Insurance Brokers, Expands into Low-Altitude Economy Insurance Market Through Strategic Cooperation with F+More
Strategic partnership positions Company to capitalize on China's fast-growing low-altitude insurance market opportunity projected at RMB 3.5 trillion by 2035 Shanghai, China--(Newsfile Corp. - May 27, 2025) - Zhibao Technology Inc. (NASDAQ: ZBAO) ('Zhibao,' 'we,' or the 'Company'), a leading and high growth InsurTech company primarily engaging in providing digital insurance brokerage services through its operating entities in China, today announced that its wholly owned subsidiary, Sunshine Insurance Brokers ('Sunshine'), has officially launched a strategic partnership with Sichuan Fanmo Technology Co., Ltd. ('F+More'), an innovative Chengdu-based insurance solution provider for China's rapidly expanding low-altitude economy. This partnership marks Zhibao's official entry into China's fast-expanding drone and low-altitude economy insurance market. We believe the strategic partnership positions Company to capitalize on China's fast-growing low-altitude insurance market opportunity in the next decade. Value Creation and Synergies in China's Drone Insurance Market Following the signing of the cooperation agreement in February 2025, the strategic partnership became operational in April 2025; Sunshine has commenced delivering digital insurance brokerage services to F+More's initial client base. These services are [beginning to be delivered] across China through the joint distribution networks of both companies, with an goal to cover all provinces and regions in China. This broad geographic reach positions Sunshine to capture market share in the emerging low-altitude insurance segment-a relatively untapped market opportunity with substantial growth potential. Through this strategic collaboration, Sunshine Insurance contributes its core competencies in digital insurance brokerage, proprietary Platform-as-a-Service (PaaS) technology infrastructure, and robust nationwide sales network. The integration of real-time flight data with dynamic risk assessment and alert mechanisms enables rapid online policy customization and distribution, as well as automated, event-driven claims processing. Through joint development and distribution of customized drone insurance products with F+More, we believe Sunshine is positioned to establish competitive advantages and drive innovation in the low-altitude insurance landscape across China and potentially in international markets. We believe this technological integration creates differentiated service capabilities that management believes will enable the partnership to capture meaningful market share as the drone insurance sector scales. Substantial Low-Altitude Economy Market Opportunities The low-altitude economy, which includes commercial drones, urban air mobility, and drone logistics, is emerging as a strategic growth frontier with significant long-term potential. According to the Civil Aviation Administration of China (CAAC), China's low-altitude airspace economy exceeded RMB 500 billion in 2023 and is projected to reach RMB 3.5 trillion by 2035. Within this expanding ecosystem, the Swiss Re Institute projects the low-altitude insurance market could reach RMB 8-10 billion by 2035, highlighting the substantial growth potential for specialized insurance providers with appropriate capabilities and market positioning. Recent industry developments have accelerated commercialization momentum in the global low-altitude economy. The successful completion of the world's first public road test flight of a flying car by California-based Alef Aeronautics in February 2025 signals a critical inflection point, with the sector transitioning from conceptual development to commercial deployment. China maintains strategic advantages in drones, low-altitude logistics, and flight control systems, with leading companies such as XPeng HT Aero and EHang positioned to benefit from accelerating commercialization trends. We believe these market developments create a favorable environment for insurance providers with specialized capabilities and appropriate market positioning to pursue revenue opportunities as such insurance sector matures. 'We believe this partnership reflects our strategic vision to identify and capitalize on high-growth sectors such as the low-altitude economy,' said Botao Ma, CEO of Zhibao Technology Inc. 'F-More's deep expertise and extensive customer base, combined with Sunshine's digital insurance platform and strong marketing capabilities, create a powerful working synergy. We're confident this collaboration will accelerate access to tailored drone insurance solutions across China and set a new standard for innovation in the sector.' About Zhibao Technology Inc. Zhibao Technology Inc. (NASDAQ: ZBAO) is a leading and high growth InsurTech company primarily engaging in providing digital insurance brokerage services through its operating entities ('Zhibao China Group') in China. 2B2C ('to-business-to-customer') digital embedded insurance is the Company's innovative business model, which Zhibao China Group pioneered in China. Zhibao China Group launched the first digital insurance brokerage platform in China in 2020, which is powered by their proprietary PaaS ('Platform as a Service'). 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. Zhibao acquires and analyzes customer data, utilize big data and AI technology to continually iterate and enhance its digital insurance solutions. This iterative process, in addition to continually improving its digital insurance solutions, will keep it abreast of the new trends and customer preferences in the market. For more information, please visit: About F+More Sichuan Fanmo Technology Co., Ltd (F+More), founded in 2015, F+More is steadily advancing with a development strategy of 'specialization, standardization, and globalization,' committed to leveraging its years of accumulated massive data and algorithmic advantages to deeply 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 over twenty risk scenarios, including inspection, security, surveying and mapping, and has established after-sales cooperation with over 500 drone manufacturers. Its three major products include F+More Feibao, F+More Excellent+, and F+More Cloud E. Among them, F+More Feibao is a drone insurance product that has been continuously operated for over a decade. F+More Excellent+ offers one-stop after-sales solutions for drone insurance to insurance institutions, while F+More Cloud E provides insurance institutions with a precise pricing engine for drone insurance. For more information, please visit: Forward-Looking Statements Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute 'forward-looking statements' within the meaning of The Private Securities Litigation Reform Act of 1995. The words 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'is/are likely to,' 'potential,' 'predict,' 'project,' 'should,' 'target,' 'will,' 'would' and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions, and other factors discussed in the 'Risk Factors' section of the registration statement filed with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at Investor Relations Contact Zhibao Technology Inc. Investor Relations Office Email: [email protected] Skyline Corporate Communications Group, LLC Scott Powell, President Avenues Tower 1177 Avenue of the Americas, 5th floor New York, NY 10036 Office: (646) 893-5835 Email: [email protected] To view the source version of this press release, please visit
