UIB Group Limited operates as an insurance brokerage company in China. The company has operations in 32 provincial and municipal branches and 53 sub-branches. Its distribution network reaches approximately 1,800 counties across China. The company services clients of approximately 233,000 educational institutions and approximately 100 million students. Products and Services The company markets and distributes insurance products. The insurance products, focused on meeting the insurance needs of its customers, are underwritten by insurance companies in China. In conjunction with distributing these products, including School Liability Insurance, Student Safety Insurance, and Teacher Medical Supplementary Insurance, the company also provides certain insurance-related services to its customers as a value added service. The insurance products UIB distributes, which are primarily underwritten by People’s Insurance Company (Group) of China (PICC), Ping An Property, China Pacific Property and China Continent Property & Casualty, are as follows: School Liability Insurance School Liability Insurance is designed to protect educational institutions against financial claims on physical or financial losses of students, teachers or others caused by negligence of schools. Purchasers of this product are educational institutions. This product provides a guaranteed benefit to schools in the event of death or disability of registered students as a result of an accident due to misconduct or negligence, or a reimbursement of medical expenses to the insured in connection with an accident during the coverage period, which usually is one year. This product requires only a single premium payment for each coverage period. Furthermore, UIB also offers free risk management consulting services to the insured to reduce the school risk profile. Student Safety Insurance Student Safety Insurance has a term of one year and provides coverage for injury and illness due to accident and supplementary medical treatment and hospitalization insurance. It also provides additional coverage of medical and hospitalization expenses for those that want to supplement the social welfare coverage. It consists of three or four policies, including Student and Pre-school Child Accident Insurance, Student and Pre-school Child Fixed Term Life Insurance, Student and Pre-school Accident Medical Insurance, and Student and Pre-school Child Hospitalization Insurance. This product requires only a single premium payment for each coverage period. Purchasers of this product are individuals, such as students’ parents. Teacher Medical Supplementary Insurance Teacher Medical Supplementary Insurance has a term of one year and provides faculty and staff additional coverage of medical and hospitalization expenses for those that want to supplement the social welfare coverage. It also covers expenses incurred due to an accident. This product requires only a single premium payment for each coverage period. Purchasers are retired teachers and school staff, who can choose from two sets of coverage. Vehicle Insurance UIB distributes both standard automobile insurance policies and supplemental policies, which it refers to as riders, to schools, faculty and staff. The standard automobile insurance policies UIB distributes have a term of one year and cover damages caused to the insured vehicle by collision and other traffic accidents, falling or flying objects, fire, explosion and natural disasters. In addition, the typical automobile insurance policies also contain the standard third party liability insurance policies, which cover bodily injury and property damage caused by an accident involving an insured vehicle to a person not in the insured vehicle. The riders cover additional losses, such as liability to passengers, losses arising from vehicle theft and robbery, broken glass and vehicle body scratches. Other Value-added Services The company, in addition to the distribution of insurance products, assists its customers in various activities, such as policy term negotiation, damage assessment and claim settlement. The company is the provider of risk management services to 26 provincial and municipal education administrative departments. Customers The company distributes School Liability Insurance to institutional customers, Student Safety Insurance and Teacher Medical Supplementary Insurance to individual customers, and Vehicle Insurance to both institutional and individual customers. As the only risk management consultant to 26 provincial and municipal education administrative departments, UIB can directly access customers in schools. As of December 31, 2008, UIB’s customer base includes approximately 22 million individuals and 233,000 institutions. Competition The company’s competitor is HuaYu Insurance Broker Co., Ltd. History UIB Group Limited was founded in 2001.
uib group ltd
(UIBGF:OTC Markets Group Inc - No Information)
Room 1906 19th Floor C Yihe Yangguang Plaza
12 East Tucheng Road Chaoyang District
Phone: 86 10 6448 9408
Fax: 86 10 6448 9408--
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