Wkbins

Wukongbao, officially Beijing Wukongbao Technology Co., Ltd., is an insurance technology platform established in August 2016. The company was founded by Chen Jie, who serves as CEO, alongside co-founders Yang Jing and Gao Yong. Chen Jie brings a wealth of experience from his time at Jingdong (JD.com), where he was instrumental in developing the company's financial and insurance businesses. This background in a major e-commerce and tech environment provided a solid foundation for launching a direct-to-consumer insurance platform.

The firm operates as a third-party insurance service provider, focusing on creating customized insurance products tailored to the needs of families. Its business model centers on leveraging technology to streamline the insurance process, from product design and user acquisition to claims processing. Wukongbao partners with various insurance companies to underwrite its products, which it then distributes through its online platforms and to-B channels. The company generates revenue through commissions and service fees from these partnerships.

Wukongbao's core service involves offering a range of life and health insurance products, including critical illness, medical, and accident insurance. A key aspect of its strategy is the use of data analytics and artificial intelligence to assess risk, personalize offerings, and engage with customers. The platform aims to make insurance more accessible and user-friendly for the average consumer in China. The company has secured significant financial backing, including a Series C funding round in 2021, which has enabled its expansion and technological development.

Keywords: Insurtech, online insurance, health insurance, life insurance, customized insurance, insurance platform, financial technology, family insurance, B2B2C, direct-to-consumer