American International Assurance has reached a cooperative agreement with Alipay, the Internet payment subsidiary of the Chinese B2B e-commerce group Alibaba, and the two will jointly develop an e-commerce insurance sales channel for online shopping customers.

This new online payment service will initially promote itself among AIA and Alipay's active members and potential customers. Users who want to buy insurance products can login to AIA's website and pay with their Alipay accounts. This new service will cover all of AIA's operating regions across China.

At present, insurance products that are available on AIA's website include short-term accident insurance and travel insurance. AIA stated the cooperation with Alipay aims to provide a convenient and safe payment channel for online shopping customers in China.

Commenting on the cooperation with AIA, Alipay stated that Alipay always attaches great importance to providing quality services with cooperative partners. As one of the earliest foreign-funded insurance companies in China, AIA's advanced service ideas and professional products will meet the related demands of users of Alipay, a subsidiary of the Alibaba Group.