FANH - Fanhua Announces Strategic Partnership with Baidu AI Cloud for Application of Large Model in Insurance Distribution | Benzinga
GUANGZHOU, China, June 03, 2024 (GLOBE NEWSWIRE) -- FANHUA Inc. (NASDAQ:FANH) (the "Company" or "FANHUA"), a leading independent technology-driven financial services provider in China, today announced that it signed a strategic cooperation agreement ("Agreement") with Baidu AI Cloud to jointly develop "Du Xiaobao", an AI-Powered insurance sales assistant application equipped with professional service capabilities. This initiative aims to drive the digital and intelligent transformation of the insurance industry, providing insurance agents with a more intelligent and convenient sales experience.
Pursuant to the Agreement, the parties will combine their respective resources to jointly develop and operate "Du Xiaobao." Fanhua will provide servers, insurance knowledge data, a product development team, and an expert team, while Baidu will offer large model dialogue, model refining capabilities, and financial model middleware technical support. Baidu will also help upgrade traditional insurance marketing support tools in areas such as language processing, emotional expression, and logical reasoning. This collaboration will enable insurance agents to better respond to market dynamics and customer needs, thereby improving sales efficiency and service quality.
The "Du Xiaobao" project is expected to commence beta testing with seed users in June 2024, followed by the official launch of version 1.0 in July 2024. This initial version will utilize intelligent dialogue to provide insurance sales agents with comprehensive support across multiple scenarios, including insurance knowledge Q&A, product consultation, professional development, marketing, and intelligent customer management. The aim is to create a digital personal assistant for every insurance sales agent, leveraging AI technologies such as large models.
Commenting on the collaboration, Mr. Yinan Hu, co-founder, Vice Chairman and Chief Executive Officer of Fanhua said, "We are excited about the strategic partnership with Baidu. As a leading global AI company, Baidu has made ...