Cheche Group Business Summary

Cheche Group Inc. (CCG) operates as a leading independent insurance technology platform in China, primarily generating revenue through transaction-based commissions and recurring service fees. The company’s business is divided into two core segments: Insurance Transaction Services, which facilitates auto insurance policies through a nationwide network of over 100 insurers, and Software-as-a-Service (SaaS) & Technical Services, which provides digital infrastructure like the "Digital Surge" and "Sky Frontier" platforms to insurance carriers and intermediaries. Cheche has strategically pivoted toward the New Energy Vehicle (NEV) sector, establishing embedded insurance partnerships with major manufacturers like Volkswagen and FAW Bestune to capture the growing electric vehicle market. In the competitive landscape, Cheche competes directly with other insurtech and digital brokerage firms such as Huize Holding Ltd, Roadzen Inc., Zhibao Technology, and SelectQuote, maintaining a dominant position as China’s largest independent platform for digital auto insurance by written premiums. The company was founded by Lei Zhang, who serves as Chairman and CEO and previously held leadership roles at CloudPower Technology and Datang Capital. The executive leadership team includes Chief Financial Officer Wenting Ji, formerly the CFO of Quhuo Limited and Xiaoyezi Music Technology; Chief Operating Officer Yanjun Liu, a veteran of Anbang Insurance Group; and Chief Technology Officer Jianxiang Zhou, who has overseen the company’s technical architecture since 2015. Cheche’s strategic direction is further supported by a board featuring Huichuan Ren, a former President of Ping An Group, and Shengwen Rong, a senior finance leader at ByteDance. The company maintains a robust institutional investor base that includes high-profile firms such as Renaissance Technologies, Goldman Sachs, Nomura Holdings, and UBS Group, reflecting its significant role in the digital transformation of the Asian insurance market.