SOS Ltd. Announces Partnering with Zhonglu P&C Insurance

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QINGDAO, China, Dec. 29, 2020 /PRNewswire/ — SOS Minimal (NYSE: SOS) (the “Corporation” or “SOS”) declared currently that it entered into a strategic cooperation agreement with Zhonglu Property And Casualty Coverage Co, Ltd  (“Zhonglu “) to cooperate in the place of  big details precision marketing, insurance plan products marketing and significant facts smart analysis.

Now, SOS has a nationwide membership base of roughly 20 million. It now works with more than 100 offline rescue services suppliers, banks, voice services robots, 100 24-hour purchaser services hotlines, and the countrywide rescue support hotline 952122, and many others. The core infrastructure of SOS insurance policy internet marketing and assistance provide chain is built on major date, blockchain-based technologies, cloud computing, AI, satellite, and 5G network, and many others. 

Zhonglu is a foremost full-certified nationwide house and casualty insurance policy service provider in China, delivering the next insurance merchandise and expert services: motor motor vehicle insurance plan, residential residence insurance coverage, enterprise property insurance, engineering coverage, liability insurance coverage, cargo transportation insurance policies, ship insurance policy, accident insurance policy, limited-phrase overall health coverage, etc. In the previous 5 yrs, Zhonglu has written insurance policy procedures over 3 trillion RMB.  It at the moment has a internet marketing and assistance community of 3 subsidiaries,14 central branches and 24 branches, with a full coverage of important towns in Shandong Province, China.

On December 28,2020, SOS and Zhonglu entered into a strategic partnership settlement to make the synergy and sharing in sales channels, branding and technology for insurance internet marketing and providers. Dependent on the parties’ projection, for the duration of next 5 decades, as a result of the strategic cooperation and mutual advertising of on line channels from each sides, these as Application, assistance robots, and so on, this strategic partnership will build a total of 10-20 million new users for both parties, with 3 million in 2021, 7 million in 2022, and 10 million in 2023, and add  gross sales of RMB 5.1 billions respectively for each aspect.

SOS Chairman Yandai Wang commented, “as we nevertheless confront industry uncertainty and ongoing disruptions from the pandemic, I am assured that this strategic partnership involving SOS and Zhonglu will make each events additional resilient and chance-tolerant, and achieve 1+1>2.”

About SOS Constrained

SOS Confined, by its operating subsidiary, SOS Data Engineering Co., Ltd. (“SOS”) is a higher-technology organization delivering a wide selection of companies to its company and person users, like promoting info, engineering and alternatives for crisis rescue providers. SOS transforms digital technology into knowledge-pushed functions by way of the investigate and development of massive info, cloud computing, Internet of Things, blockchain and artificial intelligence.

We have developed a SOS cloud crisis rescue services software as a assistance (SaaS) platform with three big product classes: essential cloud, cooperative cloud, and info. This process offers modern advertising answers to purchasers this kind of as insurance businesses, monetary establishments, clinical institutions, health care providers, vehicle suppliers, stability suppliers, senior dwelling guidance companies, and other support companies in the emergency rescue companies marketplace.

SOS has received a nationwide significant-tech organization certification and the title of “large details star business,” awarded by Gui’an New District Governing administration. Being on the forefront of electronic technology innovation, the Enterprise has registered 32 software program copyrights and 2 patents. For far more facts, make sure you go to: http://www.sosyun.com/

About Zhonglu Assets and Casualty Insurance plan Co.,Ltd

Zhonglu Assets and Casualty Insurance policy Co., Ltd is a foremost entire-certified P&C Insurance policy organization in China. Via its functioning subsidiaries and branches, Zhonglu gives the pursuing insurance plan products and solutions: motor automobile coverage, family residence insurance policy, organization assets insurance coverage, engineering insurance policy, liability coverage, cargo transportation coverage, ship insurance, incident insurance, brief-term health insurance, and so forth. In the very last 5 a long time, Zhonglu has delivered more than 3 trillion yuan of coverage protections, and paid out extra than 100 million yuan of taxes, its assert settlement level, customer support satisfaction rate, and the 2nd-technology solvency possibility administration assessment score are all earlier mentioned the sector common. At current, Zhonglu has obtained whole protection of important metropolitan areas in Shandong Province, China, with 3 subsidiaries,14 central branches and 24 branches, considering the fact that 2018, Zhonglu has been growing nationwide. For additional information and facts, be sure to go to: https://www.zhlic.com.cn/ 

Forward-Wanting Statements

Particular statements built herein are “forward-hunting statements” within the which means of the “safe harbor” provisions of the Personal Securities Litigation Reform Act of 1995. Ahead-seeking statements may well be identified by the use of words this sort of as “anticipate,” “imagine,” “anticipate,” “estimate,” “program,” “outlook,” and “undertaking” and other related expressions that predict or show long term occasions or developments or that are not statements of historic matters. Such ahead-on the lookout statements consist of timing of the proposed transaction the company strategies, objectives, expectations and intentions of the events, SOS’s estimated and future benefits of operations, company approaches, competitive placement, business natural environment and potential development prospects current market acceptance of our goods the ultimate affect of the present-day Coronavirus pandemic, or any other wellbeing epidemic, on our company, our analysis systems, healthcare units or the global economic system as a full our mental assets our reliance on 3rd social gathering organizations our anticipated economic and operating outcomes, such as anticipated sources of revenues our assumptions relating to the size of the obtainable market place, positive aspects of our product supplying, products pricing, timing of product launches management’s expectation with regard to potential acquisitions statements concerning our targets, intentions, designs and anticipations, which includes the introduction of new solutions and marketplaces and our funds requirements and funding programs and and many others. These ahead-on the lookout statements mirror the present-day evaluation of current information and facts and are matter to many dangers and uncertainties. As a end result, warning must be exercised in relying on ahead-seeking statements. SOS might not realize its expectations, and its beliefs may well not establish right. Because of to recognised and unidentified challenges, our true outcomes may perhaps vary materially from our anticipations or projections. All forward-seeking statements attributable to the Business or people performing on its behalf are expressly competent in their entirety by these variables. Other than as essential underneath the securities legislation, the Corporation does not think a duty to update these forward-looking statements.

Added info relating to these and other elements that might impact our expectations and projections can be identified in our periodic filings with the SEC, together with our Annual Report on Form 20-F for the fiscal 12 months finished December 31, 2019. SOS’s SEC filings are out there publicly on the SEC’s web page at www.sec.gov. SOS disclaims any obligation to update the forward-searching statements, whether as a consequence of new facts, foreseeable future situations or otherwise.

Source SOS Minimal

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