Chinese e-commerce company Alibaba.com will provide consulting services on product liability insurance for its enterprise clients in collaboration with AIU, a unit of American International Group.
Alibaba reportedly has over 20 million enterprise clients from 220 nations. Through cooperation with AIG, it will be able to provide consulting services on product liability insurance and professional insurance buying suggestions to its clients and help them learn about the insurance procedures. The parties will also hold professional forums to provide detailed information on import and export risk solutions to help Chinese clients know about the legal environment of foreign countries so as to better increase their awareness of risks.
Zeng Xiaoman, a vice president with AIU Insurance's Shanghai office, said only 4% of Chinese online traders are covered by product liability insurance. Therefore, AIU's cooperation with Alibaba will undoubtedly increase domestic companies' awareness of risks and boost Chinese products' competitiveness in the international market.