Wedoany.com Report, On March 11, China's XAG and Ping An Property & Casualty Insurance Co., Ltd. (Ping An P&C) held a strategic cooperation signing ceremony in Shenzhen. Building upon seven years of collaborative foundation, the two parties will further deepen the integration of agricultural technology and insurance, explore new pathways for risk protection in smart agriculture, and jointly establish new benchmarks for industry services.
This cooperation will accelerate the research, development, and implementation of innovative insurance products. The two parties plan to launch a series of customized insurance offerings, including agricultural drone battery insurance, overseas machine damage insurance, and extended warranty services, filling the gaps in risk protection throughout the entire lifecycle of drones. This initiative will not only comprehensively enhance user experience but also improve the backend service system for agricultural drone exports, helping Chinese brands expand into overseas markets more robustly.
Witnessed by representatives from both sides, including Gong Jiaqin, Co-founder and Senior Vice President of XAG; Li Kaifeng, Vice President and Head of China Business at XAG; Shi Hequn, Deputy Party Secretary of Ping An P&C; and Wu Bin, Party Secretary and General Manager of Ping An P&C Guangdong Branch, Tang Xiaomin, Vice President and Head of Service Center at XAG, and Ji Junmei, General Manager of the Government Insurance Department within the Group Business Group of Ping An P&C, formally signed the strategic cooperation agreement on behalf of their respective organizations.
From "Coverage" to "Peace of Mind"
Enhancing the After-Sales Service Experience for Agricultural Drones
Since 2019, XAG and Ping An P&C have continuously expanded the depth and breadth of protection around drone scenarios. The coverage has gradually evolved from basic insurance types like drone third-party liability insurance and pilot accident insurance to a comprehensive product matrix including hull insurance and employer's liability insurance.
In the early stages of the agricultural drone industry's development, XAG pioneered the "All-Risk Protection for Product Accidental Loss" after-sales model, aiming to make maintenance costs more transparent and reduce user burden. However, as the industry's user base gradually expanded, the drawbacks of this "all-inclusive" model became apparent: difficulty in determining liability, unclear rights and responsibilities, long repair cycles, and rising credit risks, ultimately leading to increased rather than decreased after-sales costs for users, which rose year by year. This model has become inadequate to support the industry's healthy long-term development, urgently requiring innovative insurance service models to break the deadlock.
In 2022, XAG and Ping An established an exclusive partnership, launching the "Anxin Bao" (Peace of Mind Protection) value-added protection plan for accidental repairs of core components of agricultural drones. This service enables one-click claim reporting, systematic liability determination, and expedited claim settlement. Repair costs are clear and transparent, users do not need to make advance payments, and claim efficiency is significantly improved. More importantly, the clear division of rights and responsibilities also guides users to take better care of their equipment, forming a positive flywheel effect: "the more careful users are -> the lower the claim rate -> better premiums and costs -> continuously improving service experience."
The upgrade from the "all-inclusive" to the "peace of mind" after-sales service model not only provides strong support for agricultural production to move towards higher quality, efficiency, and safety but also has accumulated valuable practical experience and a solid foundation of trust for this deep strategic cooperation.
Technology Nurtures Insurance
XAG Empowers Agricultural Insurance Risk Reduction
XAG's intelligent agricultural robots are also nurturing Ping An's agricultural insurance service capabilities, injecting technological momentum into risk reduction. Ping An P&C Guangdong Branch has purchased multiple XAG P200 agricultural drones, deploying them in institutions across cities like Zhanjiang, Huizhou, Chaozhou, and Zhaoqing. These intelligent robots, integrating spraying, spreading, lifting, and aerial surveying functions, are proving effective on the front lines of agricultural insurance risk control.
They conduct pest and disease control in farmland, reducing insurance losses caused by pests and diseases at the source; they perform rice seeding and topdressing operations, avoiding damage to seedlings from traditional machinery; they lift agricultural materials and fertilizers up mountains, solving the pain point of "difficult transportation for mountain orchards" and ensuring timely delivery of disaster prevention materials.
The deployment of these XAG agricultural drones promotes the further implementation of Ping An P&C's agricultural insurance service system. Exploring a shift from the traditional "post-loss compensation" model to a new model of "precise prevention and control beforehand, rapid intervention during events," using technological means to reduce farmer losses and claim rates, is a practical footnote to this cooperation between the two parties.
As the cooperation deepens, XAG and Ping An P&C will fully leverage their respective advantages to explore deeper integration in areas like smart agriculture and digital finance. In the future, the two parties will focus on diversified scenarios in smart agriculture, providing users with more economical and reliable products and services, jointly leading the sustainable development of the industry, and safeguarding the process of rural revitalization and agricultural modernization.
