Industry Dynamics | Digital Insurance Brokerage "Zhibao Technology" Successfully Listed in the United States

On April 2, 2024, Zhibao Technology Inc. (hereinafter referred to as Zhibao Technology), the controlling shareholder of Zhibao Technology Co., Ltd. from Shanghai, successfully went public on NASDAQ in the United States with the stock code "ZBAO". It was secretly filed with the US SEC on March 23, 2023, and later publicly disclosed its prospectus on September 8, 2023.

Zhibao Technology plans to issue 1.5 million ordinary shares at a price of $4 per share, raising $6 million.

As of the close of the first day (April 2, 2024), ZBAO Technology (ZBAO) closed at $3.70 per share, a 7.50% decrease from its IPO price of $4 per share, and currently has a total market value of $115 million.

Regarding Zhibao Technology: Established in 2015, Zhibao Technology is a leading high growth insurance technology company that mainly provides digital insurance brokerage services in China. In 2020, the company launched its first digital insurance brokerage platform in China, which is supported by its proprietary PaaS.

According to Frost&Sullivan's report, Zhibao Technology ranks first in the B2C digital insurance brokerage service market in China, with a market share of approximately 17.4%. Zhibao Technology's services include insurance brokerage services and MGU services (insurance industry underwriting general agency business). It is a professional insurance brokerage service authorized by insurance companies to assist in underwriting, claims and risk control services, covering a wide range of insurance product design and customization, insurance company selection, technology system interconnection and delivery, customer AARRR operation, customer service, compliance management, and data analysis.