QINGDAO, China, Dec. 29, 2020 /PRNewswire/ -- SOS Limited (NYSE:
SOS) (the "Company" or "SOS") announced today that it entered into
a strategic cooperation agreement with Zhonglu Property And
Casualty Insurance Co, Ltd ("Zhonglu ") to cooperate in the
area of big data precision marketing, insurance product
promotion and big data intelligent analysis.
Currently, SOS has a nationwide membership base of approximately
20 million. It currently works with more than 100 offline rescue
service providers, banks, voice service robots, 100 24-hour
customer service hotlines, and the national rescue service hotline
952122, etc. The core infrastructure of SOS insurance marketing and
service supply chain is built on big date, blockchain-based
technology, cloud computing, AI, satellite, and 5G network,
etc.
Zhonglu is a leading full-licensed nationwide property and
casualty insurance provider in China, providing the following insurance
products and services: motor vehicle insurance, residential
property insurance, business property insurance, engineering
insurance, liability insurance, cargo transportation insurance,
ship insurance, accident insurance, short-term health insurance,
etc. In the last five years, Zhonglu has written insurance policies
over 3 trillion RMB. It
currently has a marketing and service network of 3 subsidiaries,14
central branches and 24 branches, with a full coverage of major
cities in Shandong Province,
China.
On December 28,2020, SOS and
Zhonglu entered into a strategic partnership agreement to create
the synergy and sharing in sales channels, branding and technology
for insurance marketing and services. Based on the parties'
projection, during next five years, through the strategic
cooperation and mutual promotion of online channels from both
sides, such as APP, service robots, etc, this strategic partnership
will create a total of 10-20 million new members for both parties,
with 3 million in 2021, 7 million in 2022, and 10 million in 2023,
and add sales of RMB 5.1
billions respectively for each side.
SOS Chairman Yandai Wang commented, "as we still face market
uncertainty and ongoing disruptions from the pandemic, I am
confident that this strategic partnership between SOS and Zhonglu
will make both parties more resilient and risk-tolerant, and
achieve 1+1>2."
About SOS Limited
SOS Limited, through its
operating subsidiary, SOS Information Technology Co., Ltd. ("SOS")
is a high-technology company providing a wide range of services to
its corporate and individual members, including marketing data,
technology and solutions for emergency rescue services. SOS
transforms digital technology into data-driven operations through
the research and development of big data, cloud computing, Internet
of Things, blockchain and artificial intelligence.
We have created a SOS cloud emergency rescue service software as
a service (SaaS) platform with three major product categories:
basic cloud, cooperative cloud, and information. This system
provides innovative marketing solutions to clients such as
insurance companies, financial institutions, medical institutions,
healthcare providers, auto manufacturers, security providers,
senior living assistance providers, and other service providers in
the emergency rescue services industry.
SOS has obtained a national high-tech enterprise certification
and the title of "big data star enterprise," awarded by Gui'an New
District Government. Staying on the forefront of digital technology
innovation, the Company has registered 32 software copyrights and 2
patents. For more information, please visit:
http://www.sosyun.com/
About Zhonglu Property and Casualty Insurance Co.,Ltd
Zhonglu Property and Casualty Insurance Co., Ltd is a leading
full-licensed P&C Insurance company in China. Through its operating subsidiaries and
branches, Zhonglu provides the following insurance products and
services: motor vehicle insurance, family property insurance,
enterprise property insurance, engineering insurance, liability
insurance, cargo transportation insurance, ship insurance, accident
insurance, short-term health insurance, etc. In the last five
years, Zhonglu has provided more than 3
trillion yuan of insurance protections, and paid more than
100 million yuan of taxes, its claim
settlement rate, customer service satisfaction rate, and the
second-generation solvency risk management assessment score are all
above the industry average. At present, Zhonglu has achieved full
coverage of major cities in Shandong
Province, China, with 3
subsidiaries,14 central branches and 24 branches, since 2018,
Zhonglu has been expanding nationwide. For more information, please
visit: https://www.zhlic.com.cn/
Forward-Looking Statements
Certain statements made herein are "forward-looking statements"
within the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
"anticipate," "believe," "expect," "estimate," "plan," "outlook,"
and "project" and other similar expressions that predict or
indicate future events or trends or that are not statements of
historical matters. Such forward-looking statements include timing
of the proposed transaction; the business plans, objectives,
expectations and intentions of the parties;, SOS's estimated and
future results of operations, business strategies, competitive
position, industry environment and potential growth opportunities
market acceptance of our products; the ultimate impact of the
current Coronavirus pandemic, or any other health epidemic, on our
business, our research programs, healthcare systems or the global
economy as a whole; our intellectual property; our reliance on
third party organizations; our anticipated financial and operating
results, including anticipated sources of revenues; our assumptions
regarding the size of the available market, benefits of our product
offering, product pricing, timing of product launches; management's
expectation with respect to future acquisitions; statements
regarding our goals, intentions, plans and expectations, including
the introduction of new products and markets; and our cash needs
and financing plans and etc. These forward-looking statements
reflect the current analysis of existing information and are
subject to various risks and uncertainties. As a result, caution
must be exercised in relying on forward-looking statements. SOS may
not realize its expectations, and its beliefs may not prove
correct. Due to known and unknown risks, our actual results may
differ materially from our expectations or projections. All
forward-looking statements attributable to the Company or persons
acting on its behalf are expressly qualified in their entirety by
these factors. Other than as required under the securities laws,
the Company does not assume a duty to update these forward-looking
statements.
Additional information concerning these and other factors that
may impact our expectations and projections can be found in our
periodic filings with the SEC, including our Annual Report on Form
20-F for the fiscal year ended December 31,
2019. SOS's SEC filings are available publicly on the SEC's
website at www.sec.gov. SOS disclaims any obligation to update the
forward-looking statements, whether as a result of new information,
future events or otherwise.
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SOURCE SOS Limited