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DEREN (002055) signed strategic cooperation agreement with FUNDE Property Insurance Limited Liability Company (hereinafter referred to as “FUNDE P & C”) on May 10, 2017. The two sides are willing to join forces in fields of auto networking, big data services, auto insurance, automotive aftermarket, non-automobile insurance, etc. They will give full play to their advantages and conduct further cooperation in respects of customer service and risk management. By giving auto connectivity and perception, they can establish new pricing model by big data and serve users rapidly and accurately as well as conduct delicacy management and promote overall efficiency. FUNDE P & C is a national property insurance company approved by China Insurance Regulatory Commission and established on May 7, 2012, jointly sponsored by SINO LIFE INSURANCE CO., LTD. and Shenzhen Funde Financial Investment Holdings Limited. The company is headquartered in Shenzhen, with registered capital of RMB 3.5 Billion. FUNDE P & C established a professional and efficient two nuclear operational management system and integrated service platform in the information style by the mode of centralized management, differentiated authorization, which has high customer service level and strong risk control ability.
The second change of the commercial auto risk rate is coming, with the increasing of labor cost and auto parts prices as well as rising channel expenses caused by fierce competition, an increasing number of insurance companies face the pressure and challenge of rising comprehensive cost of auto insurance business. It is clearly difficult to cope with the increasingly competitive market only by channel changes and price wars. Insurance companies need to shift from sales first to refined management operation. Therefore, UBI（Usage-Based Insurance） based on auto networking becomes the main focus of insurance companies.
In view of the mature UBI application and domestic periodic results in the overseas of DEREN, and after multi-directional contrast and try and comprehensive understanding and carefully evaluating auto networking product, technology, team and project application experiences and others of DEREN, FUNDE P & C determined to cooperate with DEREN and carried out all-around further cooperation. Both management hope to apply the leading Internet technology in foreign countries, mature auto networking products and professional big data analysis ability provided by DEREN in the management operation process of insurance company. Both sides have the confidence and determination to jointly create a UBI model suitable for the development of
Both auto networking technology and product of DEREN are from its subsidiary, Meta System S.p.A. (hereinafter referred to as “Meta”), while
The cooperation between the company and FUNDE P & C will be beneficial to the wider development and promotion of the company's auto networking business in the domestic auto insurance application field. The two companies will combine and develop together to promote the complementary integration and resource sharing of advantageous resources, further expand the new profit growth point of auto networking and become the leader in the digital insurance era.
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