# Shanghai Baocheng Network Technology Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/shanghai-baocheng-network-technology

- Industry: Financial Services
- Headquarters: Shanghai, China
- Website: www.okchexian.com
- Total disclosed funding: $13M
- Latest round: Series A (Jul 14, 2016)
- Investors on record: 4

## About

Shanghai Baocheng Network Technology Co. specializes in innovative mobile-based auto insurance solutions, leveraging technology to enhance risk management and pricing for vehicle owners in China.Founded in 2014, Shanghai Baocheng Network Technology Co. is based in Shanghai, China. The company focuses on mobile auto insurance solutions and has successfully completed three deals. Its latest funding round was a Series A, raising CNY 80 million on July 14, 2016, from investors including IDG Capital, Ideate Investments, JD.com, and Yunqi Partners. The company is founded and led by Shi Qi, who is also the CEO.OK?? specializes in offering mobile-based auto insurance solutions, leveraging advanced telematics and data-driven methodologies to deliver personalized pricing and risk management. Their core product, the '??UBI??' (Mobile UBI Engine), integrates vehicle connectivity technology to monitor driving behavior and provide insights into risk profiles. The company also introduced the first insurance scoring product in China, named 'OK??' (OK Driving Value), which quantifies driving behavior into measurable indicators, transforming traditional pricing models. OK?? primarily targets individual vehicle owners and drivers within the Chinese market, focusing on enhancing customer engagement through real-time data analysis and personalized offerings.The revenue model for OK?? is structured around direct-to-consumer transactions, where clients purchase insurance products tailored to their driving profiles and behaviors. Clients engage in subscription-like agreements for ongoing insurance coverage, with potential partnerships within the automotive industry to enhance customer value. Pricing plans are associated with flagship services such as the '??UBI??' and 'OK??,' which provide ongoing benefits based on driving habits and risk assessments, aligning with the company's mission to innovate within the auto insurance landscape in China.In July 2016, Shanghai Baocheng Network Technology Co. raised CNY 80 million in Series A funding to support its growth initiatives. The company plans to further develop and launch new insurance products that integrate advanced data analytics, aiming for these innovations within the next two years. Additionally, there are strategies to expand into international markets, particularly targeting Southeast Asia by 2025 to enhance their customer base. The recent funding will be utilized to enhance product development and marketing efforts, ensuring that the company can effectively penetrate these new regions.

## Funding rounds

- Series A, Jul 14, 2016, $12M — IDG Capital, Yunqi Partners, JD.com, Ideate Investments
- Angel, Oct 14, 2014, $0.8M — IDG Capital, Yunqi Partners

## Investors

- IDG Capital (https://capitalatlas.ai/funds/idg-capital) — Angel, Series A
- Yunqi Partners (https://capitalatlas.ai/funds/yunqi-partners) — Angel, Series A
- JD.com — Series A
- Ideate Investments (https://capitalatlas.ai/funds/ideate-investments) — Series A