Boston-based biotech firm Orig3n has reportedly teamed up with online insurance juggernaut ZhongAn Online Property and Casualty Insurance to bring healthtech solutions to Chinese consumers, according to a press release.
ZhongAn, the “first and largest online-only insurance company in China,” primarily offers insurance products and solutions for lifestyle consumption, consumer finance, health, auto, and travel. However, with Orig3n’s support it will now be able to provide healthcare solutions such as DNA tests to its 500 million strong consumer base.
The two companies will also set up a laboratory in Shanghai which focuses on innovating and applying healthcare technologies. Setting the lab up in Shanghai also allows the firms to easily provide “Chinese consumers with personalized, efficient and convenient healthcare solutions.”
Here’s what Liu Haijiao, President of Life Sciences at ZhongAn, had to say about the partnership:
“We had been looking to complement ZhongAn’s product suite with health tech solutions to meet evolving consumer demands and identified Orig3n as the ideal partner due to its technology and industry-leading mobile platform. We look forward to partnering with Orig3n to provide innovative new products for our customers and the broader China market.”
As for Orig3n, here’s what its CEO, Robin Y. Smith, had to add:
“We are very excited to have ZhongAn as a strategic partner in China. With our strong knowledge base and IP and ZhongAn’s brand awareness and extensive reach with consumers, we are confident that together we will make a significant impact in the PRC.”
Photo: Abriga Media