This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

CNinsure To Establish First Of Its Kind Independent E-Commerce Insurance Platform In China

Stocks in this article: CISG

GUANGZHOU, China, March 26, 2011 (GLOBE NEWSWIRE) -- CNinsure Inc. (Nasdaq:CISG) ("CNinsure" or the "Company"), a leading independent insurance intermediary company operating in China, today announced that it expects to invest a total of RMB500 million from 2011 to 2013 to build up its e-commerce insurance platform for the sales of commodity-type insurance products, such as auto insurance, accident insurance, travel insurance and homeowner property insurance.

CNinsure anticipates to launch a price comparison website in the fourth quarter of 2011, which will provide price quotes across multiple insurance carriers, product comparison and recommendation, online transaction processing, and nationwide customer services. It will be the first independent e-commerce insurance platform that offers those functions in China.

The estimated investment will be RMB100 million, RMB200 million and RMB200 million, respectively, in 2011, 2012 and 2013. Approximately 80% of the investment will be spent on marketing and advertising, and approximately 20% on the construction of the IT infrastructure and call center. CNinsure expects that its e-commerce insurance business will become profitable in 2014.

Commenting on the strategic investment in the e-commerce insurance platform, CNinsure's chairman and chief executive officer, Mr. Yinan Hu, stated, "The recent upsurge of B2B and B2T sales model has transformed people's consumption behavior pattern in China. According to a report released by the China Internet Network Information Center, among the 457 million netizens in China in 2010, 161 million are online shoppers, representing a growth of 48.6% from the previous year. Online shopper ratio has increased to 35.1% from 28.1% a year ago. Statistics from iResearch also show that online sales volume has increased 89.4% to RMB498 billion in 2010. The era of e-commerce insurance will soon arrive. In order to grasp the opportunity and maintain our competitive edge in insurance distribution, it has become a pressing task for us to launch our own e-commerce insurance platform and establish strong brand awareness at the earliest possible time through making investment in an expedited manner."

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,648.61 +291.74 1.68%
S&P 500 2,046.96 +34.07 1.69%
NASDAQ 4,722.2550 +77.9430 1.68%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs