Klover InsurTech

About Klover InsurTech

Shanghai Weiyou Information Technology Co., Ltd., operating under the brand Klover InsurTech, is a technology-focused insurance brokerage firm based in Shanghai. The company was founded in 2015 by a team of experienced professionals from the internet technology and financial insurance sectors. Since its inception, the firm has secured strategic investments from notable institutions, including Gaorong Capital and Jingwei Venture Capital. Klover InsurTech established itself as the first internet insurance platform to obtain China's National Insurance Brokerage License.

The core of the business is a digital insurance services platform that leverages cloud computing, big data, and blockchain technologies. This platform is designed to offer streamlined, transparent, and cost-effective insurance products and related services. The primary market focus is on the auto insurance and after-sale services sector in China, serving both individual consumers and small and medium-sized enterprises (SMEs). The company's business model centers on providing one-stop insurance services where all processes and data can be verified and tracked, enhancing transparency and credibility for all parties involved.

Klover InsurTech's flagship product is a mobile application known as "又一单" (Youyidan), a B2B tool tailored for the business development needs of SMEs in the auto aftermarket. Key features of the app include the ability to receive quotes from multiple insurers simultaneously, generate a simple quotation based on a license plate number, and obtain underwriting results within seconds. In 2021, the company announced a strategic cooperation with ZW Data Action Technologies to jointly develop a cost-efficient insurance platform based on blockchain technology, aiming to expand beyond auto insurance into other product types.