Chinese sports events operation company Irena and sports insurance company Baozhun Niu announced to co-establish a sports insurance company called Baozhun Sports in Beijing on September 16. 

Irena authorized Baozhun Sports as its exclusive insurance supplier to cater to the insurance needs of all the events operated by Irena and its affiliated companies and Irena’s sports businesses. These events include NBA Global Games China, Volleyball Super League, China Open. Some sports stadiums across the country and professional sports teams/clubs are also covered by Baozhun Sports. 

Baozhun Sports also signed strategic partnerships with a dozen of companies at the event, including CPIC Allianz Health Insurance, Guoren P&C, China Merchants Life Insurance, Pinetree, BAIC Men’s Volleyball Club, Shareip, Lingdian Wudong, Yashe Sports, Jieteng Tiyu, Biosteel and others. 

Baozhun Sports claims that they have completed design and innovation for insurance products covering seven areas including sports events, sports training, sports venues, team activities, clubs, athletes and athletes services. 

Baozhun Niu is an insurance company established in 2015 with a registering capital of CNY2.19m, describing itself as a insurance platform that combines insurance technology and big data to provide tailor-made insurance products to clients. Sports is one of the areas they offer services to. 

The Founder and CEO of Baozhun Niu, President of the newly founded Baozhun Sports, Ms. Chao Xiaojuan, says that they have been following the development of the sports industry and hope to increase their business in this area; by partnering with Irena, they hope to utilize both sides’ advantages to create a super platform for sports and insurance. 

Reference: Yutang Sports