Joining Hands in the AI Ecosystem to Explore the New Blue Ocean of Global Risk Protection
KIC Invited to Baozhun Niu’s 10th Anniversary
By Justin Zhang | Executive Director – China Market
On January 16th, Baozhun Niu’s 10th Anniversary & Insurance AI Innovation Summit, themed “Building a Full-Stack Insurance AI Ecosystem to Lead the New Era of Scenario-Customized Insurance”, was successfully convened in Beijing. As Africa’s leading direct insurance institution and an industry benchmark with 20 years of experience in deepening its presence in the overseas insurance market, Klapton Insurance Company Limited (hereinafter referred to as “KIC”) was invited to the summit and officially entered into a strategic alliance with Baozhun Niu. The two parties will carry out in-depth collaboration across multiple dimensions, including overseas reinsurance cooperation, insurance technology R&D, risk control capability empowerment, and innovative field research, to jointly explore the new market of risk protection for China’s overseas interests and inject new momentum into the intelligent transformation of the global insurance industry.
Since its establishment, KIC has always adhered to the strategic positioning of localized operation and globalized services. Leveraging its direct insurance and reinsurance licenses in the African market, profound accumulation from 20 years of continuous operation, as well as three localized service networks established in Kenya, Côte d’Ivoire and Zambia, KIC has built a professional underwriting team, mature underwriting capabilities and a sound overseas service system. It has accumulated rich experience especially in the fields of risk protection for overseas businesses of Chinese-funded enterprises and coordination of cross-regional insurance services. This strategic cooperation with Baozhun Niu is an important measure for KIC to deepen the integration of “insurance + technology” and expand its global business layout, and more importantly, a strategic choice made by both parties based on complementary advantages and consistent values.
As a pioneer in scenario-customized insurance and a leading enterprise in insurance AI technology, Baozhun Niu’s full-stack AI ecosystem, cultivated over a decade of dedicated efforts, forms precise complementarity with KIC’s overseas market resources and underwriting experience. In accordance with the strategic cooperation consensus, KIC will rely on its own resource advantages and risk management experience in the overseas reinsurance sector, combined with Baozhun Niu’s independently developed full-chain AI tools such as intelligent insurance customization system, graph risk control engine and claims insight engine, to jointly optimize risk identification, underwriting efficiency and claims service quality of overseas businesses. For instance, Baozhun Niu’s “Zhijian · Graph Risk Control Engine” can help KIC build a more three-dimensional risk profile of cross-border clients; the “Chengxi · Claims Insight Engine” can provide intelligent decision support for KIC’s cross-regional claims settlement; while KIC’s localized service networks and overseas risk data will offer real-scenario support for the iteration of Baozhun Niu’s AI models, achieving deep integration of technology and business.
The core significance of this cooperation lies in breaking the dual challenges of “technical barriers” and “geographical restrictions” in overseas insurance services. On the one hand, with the help of Baozhun Niu’s full-stack AI technology, KIC will further improve the accuracy of risk control and service efficiency in its overseas businesses, reduce the operating costs of cross-regional insurance businesses, and provide more efficient and scenario-tailored risk protection solutions for overseas projects of Chinese-funded enterprises. On the other hand, relying on KIC’s mature layout and direct insurance qualifications in the African market, Baozhun Niu’s scenario-customization capability will be extended to overseas scenarios, filling the industry gap of “inadequate localized services and delayed risk response” in the protection of Chinese enterprises’ overseas interests, and promoting the transformation of China’s overseas interest risk protection from “passive compensation” to “active prevention”.
Upholding the cooperation principles of “compliance with laws and regulations, equality and mutual trust, mutual benefit and win-win results, and innovative development”, KIC and Baozhun Niu will establish an efficient collaborative mechanism. The two parties will adopt a “headquarter-to-headquarter” communication model to ensure the efficient advancement of overseas insurance projects, joint R&D of insurance technology, and exploration of innovative scenarios. This cooperation not only covers traditional advantageous areas such as China Overseas Interests (COI) insurance, engineering insurance, and liability insurance, but also focuses on the innovative application of AI technology in cross-border insurance scenarios. The two sides will jointly explore risk protection models for emerging fields such as overseas operation of autonomous vehicles and cross-border healthcare, and develop incremental markets with personalized customized products and technology empowerment.
KIC Executive Director Justin Zhang stated that Baozhun Niu’s 10-year practice of driving insurance inclusiveness through technology is highly consistent with KIC’s philosophy of “empowering through professionalism and serving the world”. Under the national policy guidance of “Artificial Intelligence Plus” and financial services supporting the real economy, the strategic cooperation between the two parties is not only an accurate grasp of the development trend of the integration of “insurance + technology + industry”, but also a positive response to the demand for risk protection of China’s overseas interests. In the future, KIC and Baozhun Niu will deepen their collaboration, give full play to their respective core advantages in overseas resources, technology R&D and scenario implementation, jointly build a new cross-border insurance service ecosystem, escort the “going global” of Chinese-funded enterprises, and at the same time promote the global insurance industry towards a more intelligent, precise and inclusive direction, realizing mutual benefit and win-win results in terms of business growth and industry value enhancement for both parties.