Zhongan Insurance is the first Internet insurance unit in China, established by Ant Financial, Tencent and Ping An of China. Zhongan Insurance's business processes are all online, and it does not have any branches nationwide. Underwriting and claims settlement are conducted entirely through the Internet. The president of Zhongan is Chen Jin (former president of China CITIC Bank Credit Card Center).

Extended reading: How to buy insurance, which one is better, and step-by-step instructions to avoid these "pitfalls" of insurance