- Jul 27, 2020
- Executive Spotlights
CEO of AllianzJD: New Business Models Will See New Opportunities though Technology Restructuring
by Ling Cao
“Many new business models are being created in older industries which can see new opportunities though technology restructuring.” Chunjun Xu, CEO of AllianzJD, gave a speech entitled “Using Digital Technology to Create Supply Chains for Insurance Services” at the China Internet Conference held from July 23rd to July 24th .
He said, “Consider scenarios as the foundation, data as the core, leverage product R&D capability as building blocks, and top it off with precise accessibility and customer service capabilities. We will create supply chains for insurance services, which will find a new fit in the industry.”
Supply chain capabilities will provide high quality services to clients. During JD’s 618 Grand Promotion, AllianzJD received RMB 300 million in insurance premium revenue, up 31% y-o-y. Electronics and home appliance insurance sales increased 360% y-o-y. AllianzJD also expanded its healthcare insurance offerings. During the epidemic, the company began to include COVID-19 insurance in its healthcare insurance in just two days, and has helped JD frontline employees in upgrading their insurance plans.
“Procedure service and management will be the direction of future development,” Xu added. In his view, clients who buy insurance are really buying security. Going forward, AllianzJD will leverage technologies such as big data, 5G, IoT, and cloud computing to improve their alert systems and lower the accident rate as much as possible.
AllianzJD is a joint-venture of JD and Allianz, the largest insurance company of Europe base in Munich, Germany.