Promise and Problems

(Beijing) – When three companies who are household names in China announced they would cooperate to form a company offering insurance services on the Internet, excitement naturally was the order of the day.

Last year, Alibaba Group, Tencent Holdings and Ping An Insurance Group announced they would form Zhong An Online Property Insurance Co., which would sell insurance policies and settle claims online. In February, the regulator gave the green light for limited business to go ahead.