Puyi Inc's Comment on Sales, Marketing and Customers
AIFU and its subsidiaries primarily operated claims adjusting services for insurance companies until divesting this business in January 2025. The subsidiaries maintain strategic partnership agreements with most major insurance companies to distribute life, property, and casualty insurance products and provide claims adjusting services at the corporate headquarters level. Additionally, contracts are established at provincial, city, and district branch levels of insurance companies, each with independent authority. These contracts specify the scope of authority, pricing, and fee rates, generally lasting one year with options for renewal and potential modifications.
The insurance agency business is conducted mainly through AIFU and its subsidiaries in China, which have obtained required licenses and permits from PRC government authorities. These include business licenses from the State Administration for Market Regulation (SAMR) and insurance distribution and broker licenses from the National Financial Regulatory Administration (NFRA) or its predecessor. Maintaining and renewing these licenses is essential for ongoing operations in China.
Puyi Inc’s Comment on Sales, Marketing and Customers
AIFU and its subsidiaries primarily operated claims adjusting services for insurance companies until divesting this business in January 2025. The subsidiaries maintain strategic partnership agreements with most major insurance companies to distribute life, property, and casualty insurance products and provide claims adjusting services at the corporate headquarters level. Additionally, contracts are established at provincial, city, and district branch levels of insurance companies, each with independent authority. These contracts specify the scope of authority, pricing, and fee rates, generally lasting one year with options for renewal and potential modifications.
The insurance agency business is conducted mainly through AIFU and its subsidiaries in China, which have obtained required licenses and permits from PRC government authorities. These include business licenses from the State Administration for Market Regulation (SAMR) and insurance distribution and broker licenses from the National Financial Regulatory Administration (NFRA) or its predecessor. Maintaining and renewing these licenses is essential for ongoing operations in China.
Sources:
Puyi Inc’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
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