Ant Insurance unveils privacy-preserving auto insurance tech

Providers like PICC, Ping An, and CPIC have already adopted this type of tech.

China-based online insurance brokerage platform, Ant Insurance, has unveiled new technology for auto insurance driven by privacy-preserving computing. 

Developed in collaboration with Chinese insurers, this technology utilises Ant Group's SecretFlow framework to deliver personalised policies and streamline operational efficiency. 

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Insurance providers like PICC, Ping An, and CPIC have already adopted this technology for new energy vehicles (NEVs), with plans to extend it to conventional fuel vehicles.

This model considers both vehicle attributes and driver records, enhancing data integrity and confidentiality while reducing risks for insurers. The result is customised policies that, on average, offer savings of several hundred RMB for car owners.