A strategic partnership between SunCar and SAIC Maxus aims to transform the auto insurance landscape in China by providing innovative e-insurance solutions.
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| SunCar and SAIC Maxus join forces to create a new era of auto insurance in China, offering enhanced services and a seamless customer experience. |
Beijing, China, August 20, 2024:
SunCar Technology Group, a leading provider of cloud-based B2B auto services and e-insurance solutions in China, has entered into a strategic two-year partnership with SAIC Maxus Automotive Sales & Service Co., Ltd. This collaboration marks a pivotal moment for SunCar as it expands its reach beyond the electric vehicle market to cater to the broader automotive industry.
Through its wholly-owned subsidiary, Shengshi Dalian Insurance Agency Co., Ltd., SunCar will deploy its advanced online platform to optimize auto insurance management for SAIC Maxus' extensive dealership network across China. By digitizing insurance processes, the partnership aims to revolutionize the customer experience, enhance operational efficiency, and drive growth for both companies.
SAIC Maxus, a prominent commercial vehicle manufacturer and a subsidiary of SAIC Motor, will benefit from SunCar's expertise in insurance technology. The partnership is expected to generate significant revenue for SunCar, with an estimated 100 million RMB (approximately US$14 million) in the first year alone.
Ye Zaichang, Chairman and CEO of SunCar, expressed his enthusiasm for the collaboration, stating, "We are thrilled to partner with SAIC Maxus, a leading force in the automotive industry. This move signifies a major step forward in our mission to digitize insurance services and improve the overall customer experience. By leveraging our innovative technology, we are confident in our ability to deliver exceptional value to SAIC Maxus and its customers."
SunCar's cloud-based platform connects drivers with a wide range of auto services and insurance options through a vast network of sales partners. The company has solidified its position as a market leader in B2B auto services and e-insurance for electric vehicles.
This tie with SAIC Maxus demonstrates SunCar's commitment to expanding its market share and becoming a comprehensive automotive services provider in China.