Chinese News App Toutiao Seeks Lead for Its Insurance Business
Liao Shumin
DATE:  Dec 22 2018
/ SOURCE:  yicai
Chinese News App Toutiao Seeks Lead for Its Insurance Business Chinese News App Toutiao Seeks Lead for Its Insurance Business

(Yicai Global) Dec. 21 -- Toutiao is recruiting for an employee to lead the design and planning of its insurance business as the news app run by Bytedance Technology moves into the expanding market.

The Beijing-based company is offering a monthly salary to the selected candidate of between CNY20,000 (USD2,900) and CNY40,000, the Economic Observer reported.

Three emerging Chinese internet companies -- Toutiao, Meituan Dianping and Didi Chuxing -- have each entered the insurance sector and obtained the relevant licensing. Bytedance's Fujian subsidiary also bought Beijing Huaxia Insurance Brokers in June, according to the National Enterprise Credit Information Publicity System.

Both Toutiao and Meituan secured insurance broking permits, while Didi's Zhonganfengshang is an agency that sells insurance products, collect expenses, investigate losses and claim settlement of relevant insurance businesses and others. 

Didi also quietly introduced serious disease insurance on its ride-hailing app with a coverage of up to CNY240,000 (USD34,815.6) and a monthly fee of less than CNY20 (USD2.90).

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Keywords:   Toutiao