Shenzhen Shouhui Technology

Shenzhen Shouhui Technology Group Ltd., operating under the parent company Shouhui Group, is a key player in China's online insurance brokerage market. The company was founded in January 2015, initially as Shenzhen Muchenglin Technology Co., Ltd., by Guang Yao, Han Liwei, and Xu Han. Guang Yao, the current CEO, brought his experience as a senior product director at Tencent to the venture, a background shared by CTO Han Liwei. The company's genesis was reportedly inspired by Guang Yao's personal challenge of navigating the complex insurance market to buy a policy for his child.

Shouhui Group functions as an online intermediary for life and health insurance products, earning commissions from insurance companies for policies sold through its platforms. The business operates a multi-platform strategy to reach different client segments. Its primary direct-to-consumer platform, "Xiaoyusan" (meaning "little umbrella"), offers customized insurance products directly to individuals. The company also runs "Kachabao," a platform empowering insurance agents, and "Niubao 100," which collaborates with business partners to expand distribution. While Xiaoyusan is the most recognized brand, the B2B-focused Niubao 100 platform generated the largest share of the group's insurance transaction service revenue in 2024.

The company's business model involves identifying customer needs and negotiating with insurance and reinsurance companies to create and exclusively distribute customized products. Its product offerings focus on long-term life and health insurance, including popular products like the "Chaojimali Critical Illness Insurance" and "Qingtianzhu Term Life Insurance." To enhance its service, Xiaoyusan has incorporated technology such as an AI-powered consultant named "Jing Jing" to generate policy recommendations and an algorithm-based claims system for faster processing. The firm has established strategic partnerships with over 50 insurance carriers, including major names like China Life, Ping An, and PICC.

Shouhui Group has a significant funding history, completing multiple investment rounds. After an angel round in 2015, it secured Series A funding later that year, a Series B round in 2017, and a Series C round in December 2020 from investors including Matrix Partners China, Tasly, and Gopher Assets. The company's valuation grew substantially through these rounds, reflecting strong investor confidence. In May 2025, Shouhui Group successfully launched its initial public offering (IPO) on the Hong Kong Stock Exchange, raising approximately US$25 million.

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