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DavidShield Forays Into Chinese Insurance Market

To provide relocation insurance and international travel services for Chinese citizens travelling abroad

DavidShield has tied up with People’s Insurance Company of China (PICC), a government company, to enter into the Chinese insurance market – reported Globes Online.

DavidShield is expected to provide relocation insurance and international travel services for Chinese citizens travelling abroad.

DavidShield and PICC, Property and Casualty Company, have inked a ten-year co-operation agreement through a joint collaboration, in which DavidShield will own 25%. The joint venture will introduce a pilot in Beijing through 2012. Henceforth, the companies have planned to expand in China.

Alon Ketzef, CEO of DavidShield, said: “For DavidShield, the joint venture, if successful, could be a great leap forward. For us, the scale is great. The numbers here are very, very ambitious.”

The agreement intends to provide an insurance solution for three target segments in China which are: relocation insurance for government and company employees who reside outside China; establishment of Chinese-speaking health and medical services for Chinese contractors working in other countries; and international travel insurance for Chinese tourists.