Tencent, PICC Formed Strategic Partnership For Financial Insurance Services
The People's Insurance Company (Group) of China and Tencent recently signed a strategic cooperation agreement in Beijing, under which the two parties will use their advantageous resources to implement multi-dimensional, multi-level, and multi-angle cooperation.

According to the agreement signed by the two parties, they will take the digital transformation of PICC as a starting point. Based on Tencent's cloud computing, big data, AI, security, and user connectivity and PICC's advantages in traditional insurance, financial intermediation, comprehensive finance, and offline branches, the two parties will implement in-depth cooperation to provide comprehensive, diversified, and professional financial insurance services.

Liao Jianmin, chairman of PICC, said that the IT system of financial industry needs to transform from management-oriented to customer-oriented and they hope the cooperation could be an opportunity to realize it. With Tencent's advanced Internet, cloud computing technology, and strong customer reaching ability, the two parties will enhance their in-depth cooperation in information technology and financial business innovation to improve PICC's IT construction ability and level and accelerate its digital operation transformation.

Ma Huateng, chairman and CEO of Tencent, said that Tencent and PICC made active exploration in various sectors and Tencent is willing to play its advantages to enhance its support to digital transformation of financial and insurance business scenes. Based on the needs of PICC, Tencent will provide a big data model for the full business cycle as well as full process solutions to help PICC achieve a leap in the insurance market.

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