News Non-Life12 Feb 2018

China:Baidu sets up online insurance platform

12 Feb 2018

Internet search engine giant Baidu has set up its online insurance platform, and for a start offers eight insurance products in three classes of business-medical insurance, major illness insurance and travel insurance.

Next, Baidu Insurance will offer pet medical insurance and other products online, reported the publication Caijing.

Baidu Insurance's main partners include Guohua Life Insurance, Taikang Online, AIG, MetLife and Aegon-CNOOC Life.

Prior to setting up the platform, Baidu has already entered the Chinese insurance arena.

In September 2017, Baidu obtained a national insurance brokerage licence through its wholly-owned subsidiary Baidu Penghuan Asset Management (Beijing) which purchased a 100% stake in Heilongjiang Lianbao Longjiang Insurance Agency.

In November 2015, Baidu announced a tie-up with global insurer Allianz and Asian investor Hillhouse Capital Group to establish a nationwide digital non-life insurance company in China. In June 2016, it unveiled plans to form an online car insurance venture with China Pacific Property Insurance.


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