China Grand Auto Launches One-Stop Car Insurance on eBaoCloud
SHANGHAI, May 11, 2017—China’s largest car service provider, China Grand Automotive Services Co. (Grand Auto Services) and eBaoTech Corporation (eBaoTech), a leading digital solutions provider for the global insurance industry partnered up to launch a Cloud-based auto insurance platform that seamlessly integrate car sales and services. eBaoCloud will be made available at all of Grand Auto Services’ sales outlets, driving the latter’s strategic transformation from a “car seller” to a “full lifecycle auto service provider”.
The Shanghai-based passenger car dealer and auto service provider has established itself as a leader in the Chinese auto industry. As of June 30 2016, it had 670 retail outlets covering 27 provinces, autonomous regions and municipalities throughout China.
“Grand Auto Services is at a crtical turning point. We’re in the middle of a transformation from ‘car sales’ toward a two-pronged strategy that places equal emphasis on ‘sales and services’,” said Xin Li, General Manager of Branding and Operation, Grand Auto Services. “Furthermore, branching out into car insurance will help expand the company’s business coverage to include after-sales services. It’ll make Grand Auto Services a truly one-stop car service provider, transforming it from the ‘largest’ to the most ‘competitive’ player in the field. In the future, Grand Auto Services will provide car owners with comprehensive insurance and financial services, such as health, life insurance, on top of auto insurance,” he added.
Based on a native cloud architecture, eBaoCloud is an open API platform for connected insurance. It provides micro services around insurance products and policies. It is a connectivity and enablement platform for traditional channels, digital channels, insurers and FinTech startups.
Jiejun Chen, Senior Manager of Insurance Unit, Grand Auto Services added, “As a one-stop platform covering insurance sales, claim and renewal services, eBaoCloud is an ideal tool to fill the insurance service gap in Grand Auto Services’ business structure, strengthening its connection with car owners through after-sales operations. Also, it saves customers the trouble of going through dozens of possible options to choose the best suitable insurance services. They only need to select insurance products that really suit their needs based on a shortlist prepared by the company. Whenever they need to make a claim, all they need to do is to contact Grand Auto Services, and the company will take care of it, saving them the hassle of filing a claim themselves. Improved customer satisfaction will translate into increased customer loyalty, laying a solid foundation for Grand Auto Services’ continued success.”
“We’re proud to announce the partnership with Grand Auto Services to build the first dealership insurance cloud service platform in the car industry,” Dr. Woody Mo, CEO and President of eBaoTech noted, “Digital technology is blurring the boundaries between different insurance products, and insurance has penetrated various aspects of people’s lives, making ‘cloud +’ ecosystem the norm for an increasing number of insurance businesses. Our mission at eBaoTech is to make insurance easy by bringing all parties together through technology. As a pioneer of ‘internet +’ and an innovator, Grand Auto Services will make car insurance easier for its customers leveraging eBaoTech’s technical strength, providing them with a unique experience that is different from all other car insurance services.”
China Grand Automotive Services Co.
China Grand Automotive Services Co. (Grand Auto Services) is the largest passenger car and luxury car sales and service group, the largest auto financing and leasing service provider, and the No. 1 used car dealer in China. It has established itself as the leader in the passenger car dealership and service market, and is widely noted for its unrivaled business scale and exceptional innovation capabilities. In 2016, the company logged an operating income of about RMB135.4 billion, and its sales hit 825,000 units. As of June 30 2016, it set up a nationwide car sales network covering 27 provinces, autonomous regions and municipalities. Its 670 retail outlets include 609 car dealerships, of which four were dedicated to ultra-high-end brands, 148 to luxury brands and 431 to mid-market brands, in addition to 57 other marques. http://www.chinagrandauto.com/cn/
eBaoTech was founded in year 2000 with a mission to “make insurance easy”. Today, with business in more than 30 countries globally, serving over a hundred carriers and numerous agents, brokers, and other ecosystem players, eBaoTech has become a global leader in insurance technology.
eBaoTech offers two groups of solutions: eBao Cloud and eBao Software. eBao Cloud provides nearly real time capability of technology adoption for insurance industry. While eBao Software offers more traditional on premise implementation of software products for insurers and large brokers/agencies to optimize operation and support business growth. Digital insurance is the central theme in the coming years and eBaoTech is well positioned to be a partner and enabler for insurance industry to accelerate technology adoption and move to digital.
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