Zhibao Technology Inc. (NASDAQ: ZBAO) introduced a new online insurance product that covers individual drone operators. The offering, created in partnership with Sichuan Fanmo Technology Co., Ltd., provides coverage for drone damage, third‑party liability, and operator liability, with annual premiums starting at CNY 395 (US$57) for full‑value protection. Customers can customize coverage limits and purchase policies through Zhibao’s PaaS platform, which activates coverage within 15 minutes of payment.
The product is designed for rapid, digital deployment. Policies are issued instantly via the mobile app, and claims can be filed through a streamlined four‑step online process. The partnership with Fanmo, a leading drone‑hardware provider, gives Zhibao access to a large base of registered drones and enables seamless integration of policy management into existing drone ecosystems.
The launch aligns with China’s 15th Five‑Year Plan, which identifies the low‑altitude economy as a key pillar for 2026‑2030. China’s registered drone fleet grew from 1.27 million at the end of 2023 to over 1.7 million by the end of 2024, and the low‑altitude market was valued at CNY 500 billion (US$72 billion) in 2023, with projections of CNY 3.5 trillion (US$507 billion) by 2035. By targeting individual operators, Zhibao seeks to capture a segment that has been largely underserved by traditional B‑channel insurers.
Zhibao’s recent financials show a mixed picture. For the fiscal year ended June 30 2025, the company posted a net loss of RMB 62.0 million (US$8.7 million) and an operating loss of RMB 53.5 million (US$7.5 million), with an operating margin of –19.3 % compared to a 5.5 % margin the prior year. Revenue, however, grew 51 % to RMB 276.9 million (US$38.7 million). The new drone‑insurance line is part of a broader strategy to diversify revenue beyond brokerage services and to leverage Zhibao’s embedded‑insurance platform across new verticals.
Management highlighted the strategic significance of the launch. Chief Operating Officer Xiaowei Le said, “The successful launch of our C‑end drone insurance product is a pivotal step in our strategic positioning within the low‑altitude economy.” Chief Executive Officer Botao Ma added, “We are leveraging our strengths in the individual and small‑ and medium‑enterprise segments to help F+More provide more comprehensive and scalable services.” The company also announced the deployment of ten new AI agents to enhance underwriting and claims processing, underscoring its commitment to an intelligence‑driven business model.
The product’s introduction positions Zhibao to compete more directly with InsurTech firms that focus on B‑channel distribution. While the company faces headwinds from a negative operating margin and a need to invest in AI and digital infrastructure, the low‑altitude market’s rapid growth and government support provide a strong tailwind. If the new offering gains traction, it could become a significant revenue driver and help offset current profitability challenges, reinforcing Zhibao’s long‑term growth trajectory.
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