It is learned on February 3 from Blue Whale Finance that according to Tianyancha data site, BYD’s proposed purchase of 3.6 billion yuan for Yi’an Property Insurance Co., Ltd. was in place on January 31. It is reported that BYD will acquire 100% equity of Yi’an Property & Casualty Insurance this time.
A few days ago, BYD responded to the outside world that the acquisition of Yi’an Property & Casualty Insurance is in progress, and specific information will be released later. Prior to this, BYD had already begun preparations to enter the insurance industry, initially wading into the field of insurance brokers. In March 2022, BYD Insurance Brokers Co., Ltd. was approved to be established.
New energy car companies such as Tesla, Xpeng, NIO, and Li Auto are also actively setting up insurance broker companies. Although the pace of layout is different, it is obviously a major trend to lock in the insurance field and enrich the automotive aftermarket services.
From the perspective of car manufacturers, without obtaining an insurance license or an insurance broker license, based on the need to provide continuous services, they need to cooperate with third-party insurance companies. There is a profit flow. If they directly get involved, they can strive for more profit margins.
Furthermore, when automakers get involved in insurance, they can also extend their own industrial chain, optimize every link in the industrial chain, discover new profit points, and increase user stickiness through the services and products of the automotive “aftermarket”.