What’s Happening
Chinese smart EV manufacturer XPENG has revealed a series of strategic partnerships with eight high-profile insurance companies in China. Included in the partnerships are industry leaders such as PICC Property and Casualty Co Ltd, Ping An Property & Casualty Insurance Co of China Ltd, and China Pacific Property Insurance Co Ltd. These alliances are intended to pave the way for a smart insurance service program and associated products that deliver amplified insurance coverage for EV owners.
Why It Matters
This move places XPENG at the forefront of a new insurance paradigm for autonomous vehicles. By leveraging the resources and expertise of established insurers, XPENG aims to devise insurance programs tailored for smart vehicles that possess ADAS (Advanced Driver Assistance System) capabilities. The broader goal here is to support and accelerate the adoption of autonomous driving technology, making it widely available to the general public.
Key Points
XPENG Motors has unveiled a sophisticated intelligent online insurance service system that supervises the entire procedure from quote solicitation to claims processing. Thanks to the backing of its insurance allies, XPENG has succeeded in setting up this cutting-edge service system. The company reveals that nearly 90% of XPENG car owners have embraced online insurance, and the satisfaction rate for intelligent claims processing is an impressive 98%.
The newly introduced system is key in optimizing the delivery of new vehicles, refining user experiences, and garnering valuable consumer feedback. As of now, the intelligent insurance claims service has benefitted approximately 40,000 car owners.
Chairman and CEO of XPENG, He Xiaopeng, stated that their company, being a leading innovator in autonomous driving technology in China, requires the backing of suitable policies, regulations, and the insurance industry to pioneer technological advancements.
Bottom Line
XPENG Motors is determined to intensify its cooperation with various insurance entities to explore and formulate insurance product systems specifically designed for autonomous driving technology and vehicles. This dedication underlines the company’s commitment to stimulate the smart automotive industry’s growth and expedite the integration of autonomous driving into societal infrastructure.
