NEW YORK ,
Aug. 1,
2024 /PRNewswire/ -- SunCar Technology Group
Inc. ("SunCar"; NASDAQ: SDA), an innovative leader in cloud-based
B2B auto services and auto e-insurance in China, is pleased to announce the formation of
a new business partnership with the Inner Mongolia branch of China
Continent Property & Casualty Insurance Co., Ltd ("China
Continent Insurance"). China Continent Insurance is the only
subsidiary of China Reinsurance (Group) Corporation (SEHK: 1508)
that specializes in non-life primary insurance. This partnership
marks a significant addition to SunCar's existing collaborations
with over 20 branches of China Continent Insurance across multiple
major cities and provinces in China.
This expansion contributed to a remarkable increase in service
sales, with a more than 30% rise in the first half of 2024 compared
to the same period in 2023, underscoring the strength and success
of SunCar's continuing efforts to expand its partnerships.
Highlights of the Partnership:
Innovative Settlement Methods: SunCar
Technology Group and China Continent Insurance are utilizing
service package deals in addition to traditional settlement
methods. This approach enhances cost predictability and
significantly boosts customer satisfaction, while also providing
SunCar with the opportunity to achieve higher-than-expected service
profits.
Diverse Service Offerings: The partnership
has expanded SunCar's service offerings to include telecom data
packages, airline and train ticket vouchers, and audio-visual
membership vouchers, in addition to traditional car services like
car washing, chauffeur, and rescue services. This comprehensive
range of services is designed to meet the diverse needs of
customers, providing them with a more satisfying and holistic
experience.
Strategic Growth and Future
Collaborations: The expanded service offerings and
innovative collaboration models lay a robust foundation for future
business partnerships and sustained growth. SunCar is committed to
continuously enhancing its services and exploring new avenues for
collaboration with its partners, including China Continent
Insurance.
"We are thrilled to deepen our partnership with China Continent
Insurance," said Ye Zaichang, Chairman and CEO of SunCar Technology
Group. "This collaboration reflects our commitment to delivering
exceptional services and our commitment towards innovating and
expanding our offerings. We look forward to continuing our growth
trajectory and setting new benchmarks in customer satisfaction and
business performance."
About SunCar Technology Group Inc.
Originally founded in 2007, SunCar is transforming the customer
journey for auto services and auto insurance in China, the largest passenger vehicle market in
the world. SunCar develops and operates cloud-based platforms that
seamlessly connect drivers with a wide range of auto services and
insurance coverage options through a nationwide network of sales
partners. As a result, SunCar has established itself as the leader
in China in the B2B auto services
market and the auto eInsurance market for electric vehicles. The
Company's multi-tenant, cloud-based Platform empowers its
enterprise clients to access and manage their customer database and
offerings optimally, and drivers gain access to hundreds of
services from tens of thousands of independent providers in a
single application. For more information, please visit
https://suncartech.com.
Contact Information:
SunCar:
Investor Relations: Ms. Hui Jiang
Email: IR@suncartech.com
Legal: Ms. Li Chen
Email: chenli@suncartech.com
U.S. Investor Relations
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: matthew@strategic-ir.com
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SOURCE SunCar Technology Group Inc.