Cheche Technology has created a unique ecosystem with powerful, self-reinforcing network effects. As of June 30, 2022, Cheche Technology had facilitated a broad range of auto insurance transactions covering over 4,000 vehicle makes with approximately 100 insurance carriers, 400 third-party platforms, and 820,000 referral partners in its ecosystem.
Cheche Technology has leveraged its technology capabilities, extensive data sets and understanding of China’s insurance industry to develop and launch two cloud-based SaaS solutions for insurance carriers and intermediaries: Sky Frontier and Digital Surge. Digital Surge is an intelligent one-stop SaaS product that helps insurance intermediaries enhance operating efficiency and meet evolving regulatory requirements. Sky Frontier is an AI-based, SaaS analytics engine that helps insurance carriers optimize underwriting and pricing strategies based on market data and proprietary insights. Through its unique SaaS offerings, Cheche Technology is well-positioned to capture significant opportunities resulting from the accelerating digitalization of the auto insurance market in China.
Cheche Technology expects to use proceeds from the Proposed Transaction to accelerate technology development and new market entry while also continuing to invest in growth across existing markets.
Cheche Technology is a leading auto insurance technology platform, with a nationwide network of around 110 branches licensed to distribute insurance policies across 24 provinces, autonomous regions and municipalities in China.
Prime Impact is focused on partnering with experienced management teams building innovative, data-centric technology or technology-related companies in key Asian markets with a focus on the Greater China market.