Alibaba and Tencent Chairmen Invest in China's Ping An Insurance - TMCnet's Insurance Technology eNews

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Featured Articles » Australian Online Insurer Upgrades Capabilities » Report: Canadian Insurance Market to Focus on Technology in 2015 » Certifi to Deliver Improved Billing and Payment Management Through SaaS William Platform   Sponsored by: Interactive Intelligence   Top Stories » Almost Half of Americans Don't Realize They Must Report Health Insurance Status on 2014 Tax Returns   From The Expert Corner December 04, 2014 Alibaba and Tencent Chairmen Invest in China's Ping An Insurance By Peter Bernstein Senior Editor There have been a lot of reports recently that the financial services industry and the insurance industry in particular are ripe for disruption thanks to the increasing use of the Internet as the vehicle for delivery of new and innovative services that can provide insurance customers a better user experience. This is a global phenomenon. An example of Internet company interest in online insurance can be seen in the recent announcement that none other than the founders of Chinese Internet giant Alibaba Group Holding Ltd and another huge Chinese Internet service, Tencent Holdings (News - Alert) Ltd, are among a consortium of investors who purchased stakes in Ping An Insurance Group Co of China Ltd. The transaction, HK$36.5 billion (US$4.7 billion) was revealed November 30th. It is being characterized as one of the largest Hong Kong share offerings of the year. As reported in the Chinese financial news magazine Caijing, Alibaba Executive Chairman Jack Ma was one of Ping An's new backers along with Tencent Chairman Pony Ma...Read More    Featured Videos Interaction Mobilizer    Featured Resources » The Value and the Future of the Insurance Contact Center » How Insurers Can Use Collaboration for a Competitive Advantage   Featured Channels » Account Receivable Management » Business Process Automation » CaaS » Cloud Contact Center » Contact Center Solutions   Insurance Technology is Your Source for the Latest Insurance & Technology News and Information   Sign Up For FREE    |    Visit Site    |    Free Magazine Subscription   Advertise With Us   General advertising Info: Click here      Become a TMCnet columnist! Become a TMCnet columnist! Want to contribute your expertise to a growing audience of technology professionals? Become a writer, blogger or columnist for the TMCnet Web site and this newsletter. Contact TMCnet Group Editorial Director, Erik Linask, at elinask@tmcnet.com for details.

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