China’s largest online-only insurer, ZhongAn, has partnered with Boston-based biotech company Orig3n in a move that brings new healthtech solutions to its 500 million Chinese customers.
Having previously raised $1.5 billion during its oversubscribed IPO on the Hong Kong stock exchange in late 2017, ZhongAn was the first online-only insurer in the region and primarily offers products and solutions for the lifestyle consumption, consumer finance, health, auto, and travel markets.
“We had been looking to complement ZhongAn’s product suite with health tech solutions to meet evolving consumer demands and identified Orig3n as the ideal partner due to its technology and industry-leading mobile platform,” explained Liu Haijiao, President of Life Sciences at ZhongAn.
ZhongAn will now offer a suite of DNA tests to its customers while establishing a new laboratory with Orig3n in Shanghai that focuses on the application and innovation of healthcare technologies.
“We are very excited to have ZhongAn as a strategic partner in China,” said Robin Y. Smith, Chief Executive Officer of Orig3n. “With our strong knowledge base and IP and ZhongAn’s brand awareness and extensive reach with consumers, we are confident that together we will make a significant impact in the PRC.”
Haijiao added, “We look forward to partnering with Orig3n to provide innovative new products for our customers and the broader China market.”