On August 6, Tesla Insurance Brokers Co., Ltd. was established with a registered capital of 50 million yuan. The registered address is China (Shanghai) Pilot Free Trade Zone . The legal representative is Tesla’s global vice president and Zhu Xiaotong, the person in charge of Greater China, the company’s business scope is a licensed project: insurance brokerage business. The company is wholly-owned by Tesla Motors Hong Kong Limited.
An insurance broker company refers to an insurance intermediary institution established in accordance with the law. On the one hand, it represents the interests of the insured, designs insurance plans for the insured, and negotiates and reaches an insurance agreement with the insurance company. On the other hand, it solicits business for insurance companies and collects commissions from insurance companies. In the reinsurance market, reinsurance business is arranged for the ceding company and reinsurance commission is charged to the ceding company. In daily work, insurance brokerage companies can also provide policyholders with disaster prevention and loss prevention, risk assessment, risk management, insurance consulting or advisory services, etc.
Naijatechnews.com learned that Tesla CEO Elon Musk once said that the core of competition in the insurance industry is the accuracy of information, and Tesla is building a great company like a large insurance company.
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