ZhongAn hires more data analysts than actuaries
ZhongAn has been hiring more data analysts than actuaries as the Chinese online insurer seeks to expand. The company is in the process of hiring more than 100 data analysts, compared with around 20 actuaries, though it claims these personnel will work together. The company claims that its actuaries work on more traditional lines of risk, such as motor and healthcare, while the data analysts will focus on the firm's forward-looking policies, including those covering smartphones and drones.

HONG KONG -- As the hottest initial public offering in Hong Kong so far this year, China's first and largest pure-play online insurer, ZhongAn Online P&C Insurance, is plowing millions of yuan into next-generation technology to ensure it stands tall next to its three shareholders -- Jack Ma Yun's Ant Financial, Tencent Holdings, and Ping An Insurance Group.

The venture, crystallized in the subsidiary known as ZhongAn Technology established in July 2016, will help the company turn a profit and cement its position as China's insurtech leader, according to Chief Operating Officer Wayne Xu Wei. Xu said the project was top priority, along with the expansion of product offerings over the next five years.