Chinese insurers invest in car-sharing platforms
China Pacific Insurance has made an investment in Atzuche, a mobile app allowing individuals to rent out their idle vehicles. The Shanghai-based 3-year-old startup has raised a total of $105.21 million since inception. The same China Pacific Insurance, whose subsidiary China Pacific Property Insurance is planning to launch a digital auto insurer in partnership with Baidu. Bottom Line: China Pacific Insurance is following the footsteps of Ping An, which invested in a similar company called Baojia.