ZhongAn Online AI Full-Link Insurance Platform

📌 Background

Since 2025, ZhongAn Online has integrated AI across the entire insurance chain of underwriting, pricing, and claims. In 2026, it continues to deepen dynamic pricing and claims automation, replacing manual nodes with models. In 2025, the company achieved total gross written premiums of RMB 35.735 billion and underwriting profits of RMB 1.412 billion, a year-on-year increase of 42.5% (based on the 2025 annual report). There are nearly 220 active AI platform robots, with over 2 billion large model calls completed throughout the year (disclosed by the company).

👤 Target Customers

Individual and corporate insurance policyholders; platform fees are extracted from service fees and value-added service fees within insurance premiums.

💰 Revenue Streams

1) Insurance commissions: Commissions extracted proportionally based on insurance premiums, with total premiums reaching RMB 35.735 billion in 2025 (per company financial reports); 2) Value-added data services: Risk control and data services provided to partners, charged on a per-call or subscription basis; 3) Dynamic pricing subscriptions: Annual subscription fees for advanced features of the dynamic pricing model; 4) Claims automation output: Project-based fees for exporting claims automation systems to industry peers (opportunity item; public figures for this revenue are not yet available).

🧮 Cost Structure

1) Large-scale cloud computing and storage costs; 2) AI model R&D and training expenses; 3) Maintenance costs for claims automation systems and risk control personnel.

🛡️ Moat

Full-link AI models and massive insurance business data, platform brand and regulatory licenses, and an established ecosystem partnership network.

🔑 Keys to Success

• End-to-end AI models covering underwriting to claims
• User experience-driven mobile insurance application process
• Ecosystem with deep partnerships across multiple insurance companies

⚠️ Risks

• Business model adjustments driven by regulatory policy changes
• Data privacy compliance risks
• System failures leading to claims processing delays

🏢 Cases

• ZhongAn Online achieved total gross written premiums of RMB 35.735 billion in 2025, driving profitability across the entire chain with AI.

📊 SWOT Analysis