Last week Chen Lin resigned as CEO of loss-making insurtech Zhong An Online according to a report from
21st Century Business Herald. The startup was originally a joint venture between Alibaba’s Ant Financial, Tencent and Ping An. In 2017 the company listed on the Hong Kong stock exchange.
Its current market capitalization is $3.64 billion, with the stock price 80% down from its 2017 high.
Zhong An was perhaps the first corporate to deploy blockchain at scale. On various e-commerce platforms in China, users can take out micro-insurance to cover the cost of
shipping returns. The company has issued billions of policies logged on its blockchain.
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