Overview of Baowang
Headquartered in Shenzhen, Shenzhen Baowang E-commerce Co., Ltd. (“Baowang” or the "Company"), was founded in 2004 by a group of elite oversea returnees, primarily engaged in the provision of database, software and internet services. Being of the key projects supported under the state high-tech development plans, the 863 Program and the Torch Plan, it is one of the three software suppliers recommended by the China Insurance Regulatory Commission to boost the high tech-driven development of the insurance intermediary industry. It is also the only company that has been granted a National High-Tech Enterprise Certification in China's insurance industry so far.
On July 29, 2010, CNinsure Inc. (“CNinsure”) (Nasdaq: CISG), which is the only Asian insurance intermediary company listed on the mainboard of major stock exchanges, invested RMB 84million on acquisition of Shenzhen Baowang E-commerce Co., Ltd.. Upon acquisition, CNinsure plans to invest RMB500 million within three years to forge a leading insurance e-commerce platform that facilitates one-stop product and price comparison and online transaction processing services and provides customers with the largest online user community and the most comprehensive online showcase of insurance products. Based on the online operation, CNinsure also aims to build the largest and most professional independent professional call center in China to offer offline consulting and after-sale services 24 hours around the clock.
With a decade of development, CNinsure has become a diversified financial services group offering a wide range of financial products and services encompassing property and casualty insurance, life insurance, insurance adjusting service, insurance brokerage service, consumer credit products, wealth management products, health management service and automobile-related services. With more than 40,000 sales agents and 47 affiliated professional insurance intermediary companies, CNinsure's distribution and service network reaches China's 23 provinces serving more than a million customers nation-wide as of 30 September, 2011. Its compelling strength in traditional insurance distribution and financial service businesses allows it to continuously stay ahead among its competitors in the insurance and financial service industry.
Baowang’s reinforced e-commerce platform and call centre will be integrated into CNinsure’s extensive traditional sales and service network to create a third-party financial and insurance product trading and service platform that consists of a tri-dimensional network of internet, telephone and ground operations.
Our Core Values
1) Mission: Facilitate easy access to tailor-made insurance policy for every single customer.
2) Vision: To become China's largest insurance e-commerce platform.
3) Value: Simple, Tolerance, Innovation, Sharing, Pursuit of excellence
- Simple: Being plain, diligent, candid and free from grandiose manner. Avoid extravagant and wasteful spending and focus resources on driving the company’s business growth.
- Tolerance: Being magnanimous. In view of the diversity in today’s society, we should be broadminded and adapt the Company to the constantly changing market.
- Innovation: the rapidly advancing internet industry calls for broadmindedness towards newly emerging trends and constant innovation to meet different customers’ needs in order to strengthen the core competency and outcompete its competitors.
- Sharing: sharing leads to long-term cooperation relations which helps attract, retain and motivate talents to entrench our competitive advantages.
- Pursuit of excellence: relentless pursuit of high standard operation and customer-oriented approach. Fully unleash the power of its advantages and strengths and make best use of all resources available.
4) Core Competencies
- Comprehensive services: tridimensional service network that consists of online insurance e-commerce platform, call center and ground operation.
- Purchasing power: incomparable negotiations and purchasing power with insurance companies given CNinsure’s large business scale.
- Talent and expertise: a well-structured team with rich experience and ability in research and development, website design, business management and sales and marketing.
- Brand: good brand awareness as evidenced by its reputation as the most visited independent insurance e-commerce platform in China.
- Strategy: take swift actions to capitalize on changing market trends and consumer consumption habits to gain early-mover advantages in the insurance industry.
- Mode: provides the most comprehensive insurance product, price and service comparison services and forge the strongest insurance services platform.
- Capital: Leverage the capital advantage from CNinsure’s investment of RMB500 million to boost the development of InsCom.
Address8-13 F Nanfeng Building,
No.52 Shuiyin Rd., Yuexiu District,
Guangzhou, China 510075