Source: SunCar
The partnership began in early 2024 and has shown exceptional momentum in automotive insurance brokerage services. Premium volume surged from an initial $400,000 in January 2024 to approximately $40 million by year-end, marking a hundredfold increase across 48 Chinese cities. With over 2 million of our partner’s electric vehicles currently on the road in China, our newly developed e-insurance system is tailored to streamline the insurance renewal process, ensuring seamless coverage for this growing market. This rapid scaling demonstrates both the strong market demand and the effectiveness of SunCar’s service delivery model.
The Company’s AI-powered infrastructure has been instrumental in optimizing service delivery and resource allocation. SunCar’s advanced insurance renewal system now serves over 2 million owners of our partner’s electric vehicles, showcasing the Company’s technological capabilities and market reach. This digital transformation sets new standards for efficiency and customer service in the automotive sector.
“As artificial intelligence reshapes the automotive industry, SunCar continues to pioneer innovative solutions that address the evolving needs of vehicle owners,” said Ye Zaichang, Chairman and CEO of SunCar Technology Group Inc. “Our expanding partnership with this leading EV manufacturer strengthens our position in China’s rapidly growing electric vehicle market while demonstrating our commitment to technology-driven service excellence.”
Read the full article: https://ir.suncartech.com/news-releases/news-release-details/suncar-technology-expands-major-partnership-global-ev-leader
