fbpx

SOS Ltd. Announces Partnering with Zhonglu P&C Insurance

QINGDAO, China, Dec. 29, 2020 /PRNewswire/ -- SOS Limited (NYSE: SOS) (the "Company" or "SOS") announced today that it entered into a strategic cooperation agreement with Zhonglu Property And Casualty Insurance Co, Ltd  ("Zhonglu ") to cooperate in the area of  big data precision marketing, insurance product promotion and big data intelligent analysis.

Currently, SOS has a nationwide membership base of approximately 20 million. It currently works with more than 100 offline rescue service providers, banks, voice service robots, 100 24-hour customer service hotlines, and the national rescue service hotline 952122, etc. The core infrastructure of SOS insurance marketing and service supply chain is built on big date, blockchain-based technology, cloud computing, AI, satellite, and 5G network, etc. 

Zhonglu is a leading full-licensed nationwide property and casualty insurance provider in China, providing the following insurance products and services: motor vehicle insurance, residential property insurance, business property insurance, engineering insurance, liability insurance, cargo transportation insurance, ship insurance, accident insurance, short-term health insurance, etc. In the last five years, Zhonglu has written insurance policies over 3 trillion RMB.  It currently has a marketing and service network of 3 subsidiaries,14 central branches and 24 branches, with a full coverage of major cities in Shandong Province, China.

On December 28,2020, SOS and Zhonglu entered into a strategic partnership agreement to create the synergy and sharing in sales channels, branding and technology for insurance marketing and services. Based on the parties' projection, during next five years, through the strategic cooperation and mutual promotion of online channels from both sides, such as APP, service robots, etc, this strategic partnership will create a total of 10-20 million new members for both parties, with 3 million in 2021, 7 million in 2022, and 10 million in 2023, and add  sales of RMB 5.1 billions respectively for each side.

SOS Chairman Yandai Wang commented, "as we still face market uncertainty and ongoing disruptions from the pandemic, I am confident that this strategic partnership between SOS and Zhonglu will make both parties more resilient and risk-tolerant, and achieve 1+1>2."

About SOS Limited

SOS Limited, through its operating subsidiary, SOS Information Technology Co., Ltd. ("SOS") is a high-technology company providing a wide range of services to its corporate and individual members, including marketing data, technology and solutions for emergency rescue services. SOS transforms digital technology into data-driven operations through the research and development of big data, cloud computing, Internet of Things, blockchain and artificial intelligence.

We have created a SOS cloud emergency rescue service software as a service (SaaS) platform with three major product categories: basic cloud, cooperative cloud, and information. This system provides innovative marketing solutions to clients such as insurance companies, financial institutions, medical institutions, healthcare providers, auto manufacturers, security providers, senior living assistance providers, and other service providers in the emergency rescue services industry.

SOS has obtained a national high-tech enterprise certification and the title of "big data star enterprise," awarded by Gui'an New District Government. Staying on the forefront of digital technology innovation, the Company has registered 32 software copyrights and 2 patents. For more information, please visit: http://www.sosyun.com/

About Zhonglu Property and Casualty Insurance Co.,Ltd

Zhonglu Property and Casualty Insurance Co., Ltd is a leading full-licensed P&C Insurance company in China. Through its operating subsidiaries and branches, Zhonglu provides the following insurance products and services: motor vehicle insurance, family property insurance, enterprise property insurance, engineering insurance, liability insurance, cargo transportation insurance, ship insurance, accident insurance, short-term health insurance, etc. In the last five years, Zhonglu has provided more than 3 trillion yuan of insurance protections, and paid more than 100 million yuan of taxes, its claim settlement rate, customer service satisfaction rate, and the second-generation solvency risk management assessment score are all above the industry average. At present, Zhonglu has achieved full coverage of major cities in Shandong Province, China, with 3 subsidiaries,14 central branches and 24 branches, since 2018, Zhonglu has been expanding nationwide. For more information, please visit: https://www.zhlic.com.cn/ 

Forward-Looking Statements

Certain statements made herein are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate," "believe," "expect," "estimate," "plan," "outlook," and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements include timing of the proposed transaction; the business plans, objectives, expectations and intentions of the parties;, SOS's estimated and future results of operations, business strategies, competitive position, industry environment and potential growth opportunities market acceptance of our products; the ultimate impact of the current Coronavirus pandemic, or any other health epidemic, on our business, our research programs, healthcare systems or the global economy as a whole; our intellectual property; our reliance on third party organizations; our anticipated financial and operating results, including anticipated sources of revenues; our assumptions regarding the size of the available market, benefits of our product offering, product pricing, timing of product launches; management's expectation with respect to future acquisitions; statements regarding our goals, intentions, plans and expectations, including the introduction of new products and markets; and our cash needs and financing plans and etc. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. SOS may not realize its expectations, and its beliefs may not prove correct. Due to known and unknown risks, our actual results may differ materially from our expectations or projections. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Additional information concerning these and other factors that may impact our expectations and projections can be found in our periodic filings with the SEC, including our Annual Report on Form 20-F for the fiscal year ended December 31, 2019. SOS's SEC filings are available publicly on the SEC's website at www.sec.gov. SOS disclaims any obligation to update the forward-looking statements, whether as a result of new information, future events or otherwise.

Cision View original content:http://www.prnewswire.com/news-releases/sos-ltd-announces-partnering-with-zhonglu-pc-insurance-301198935.html

Copyright

© PR Newswire

Taihecap Named Best Private Equity Adviser by Trip...
After Brexit, EU eyes China deal
 

By accepting you will be accessing a service provided by a third-party external to https://chatpips.com/

 
     
 

Broker Search

Latest Spot Rate

 
19 January 2021
Canadian dollar dips on mixed data - MarketPulseMarketPulse Home/FX/Newsfeed Share 0 The Canadian dollar is down slightly in the Monday session. Currently, USD/CAD is trading at 1.2759, up 0.22% on the day. Short squeeze boosts US dollar The week end...
19 January 2021

19 January 2021
Aussie dips below 0.77 line - MarketPulseMarketPulse Home/Central banks/COVID-19/FX/News events/Newsfeed/Technical analysis Share 0 The Australian dollar has started the new trading week with slight losses. AUD/USD is currently trading at 0.7681, dow...
18 January 2021
Quiet start to the week - MarketPulseMarketPulse Home/Central banks/COVID-19/News events/Newsfeed/Treasuries Share 0 A quiet start to the week, with the US bank holiday meaning trading is likely to remain extremely thin throughout the session. Europe...
18 January 2021
Oil slips while gold ticks higher - MarketPulseMarketPulse Home/Commodities/COVID-19/Metals/News events/Newsfeed/Oil/Technical analysis Share 0 Oil seeing more profit-taking We may be seeing a little profit-taking in oil prices after a remarkable run...
How It Works | About | Contact | Contributors | Privacy Policy | Advertise
© 2009 - 2021 ChatPips. All Rights Reserved. Terms of Use: The content on this website is solely for educational and informational purposes and is not a substitute for official documentation of the original owners. Daily economic news is provided by third-party website. This site is not operated by, sponsored by, endorsed by, or affiliated with any parties in any way. The website owner, the authors, the publishers, and all affiliates of ChatPips.com assume no responsibility or liability for your trading and investment results. You should always check and confirm with several sources with your licensed financial advisor and tax advisor to determine the suitability of any investment before making your final decision. Your continued usage and browsing of information on this website constitute your agreement to this Terms of Use. If you do not agree, please do not proceed to use this website. Brokers Directory: The companies license information were obtained from respective local jurisdiction. All other company and/or product names are trademarks and/or registered trademarks of their respective owners.