[ET Net News Agency, 10 August 2020] Daiwa Research lifted its target price for ZhongAn
Online P&C Insurance (06060) to HK$47 from HK$26 but downgraded its rating to "hold" from
"outperform" as its share price has doubled since 24 March.
The research house expects ZhongAn to benefit from rising online insurance sales post
the pandemic and the integration of FinTech with many insurance scenarios, which is an
ongoing process.
In product design, Daiwa said ZhongAn launched over 10 personalised clinic policy series
packages with an aim to offer customised product experience for various customer groups.
In the underwriting process, using its AI underwriting system, ZhongAn offers customised
medical insurance coverage based on specific underwriting information provided by the
users. In claims settlements, through direct connection with medical databases and based
on intelligent medical semantic analysis, it has significantly reduced labour costs for
data entry and structure-based analysis.
Riding on the tailwind of online user migration, we expect health insurance to drive
Zhong An's overall premium growth. (KL)