AIFU

What AIFU does

AIFU Inc. (NASDAQ: AIFU), formerly Fanhua Inc. and later AIX Inc., is a Cayman Islands-incorporated holding company founded in 1998 in Guangzhou, China, and headquartered in Shenzhen. As of 2025 the company had 594 employees. Historically the company operated an AI-driven independent financial services platform distributing life and property & casualty insurance products on a commission basis through 67 insurance company partners, 275 institutional third-party channels connected via an MGA platform, 539 sales outlets across 24 provinces, and 69 service outlets across 31 provinces. Underlying platforms include the AIX Platform, RONS Open Platform, Baowang (baoxian.com, offering 300+ flagship products from 30+ insurers), and the Du Xiaobao L2 generative AI model co-developed with Baidu Smart Cloud. The 2024 product mix was participating insurance 40.3%, whole life 24.6%, annuity 29.0%, critical illness 2.6%, and long-term care 1.9%, with life insurance commissions accounting for 92.6% of total commission and fee revenue in 2025.

In December 2024 AIFU completed a strategic share exchange with BGM Group Ltd., transferring RONS Technology and Xinbao Investment (valued at approximately US$140 million) to BGM in exchange for ~72% of BGM's equity, effectively repositioning the AI-enabled insurance platform under a separate listed entity while leaving AIFU with a healthcare and pharmaceutical stake. AIFU generates revenue primarily through transaction-based commissions on insurance premiums distributed through its online and offline channels, supplemented by professional services revenue from a 2,457-person in-house claims adjusting operation that contributed RMB 222.1 million (US$30.6 million) in H1 2024. Marketing relies on investor relations, social media (Twitter/X, Facebook, Instagram, LinkedIn), press releases distributed via Globe Newswire, and quarterly earnings calls. Following a Nasdaq minimum bid price notice in February 2025, the company executed a 1-for-20 reverse stock split in June 2026.

In June 2026 AIFU signed a non-binding MOU to acquire Peakleap Ventures Limited, an industrial AI company with computer vision and intelligent predictive maintenance capabilities for solid waste recycling and resource recovery, marking a strategic pivot toward a dual-engine model combining Industrial AI with Digital Finance. The company was previously ranked 19th in Best's Review's Top 20 Global Brokers 2024 edition and has paid approximately US$268.3 million in cumulative dividends since its 2007 NASDAQ IPO.

Name

AIFU

Legal name

AIFU Inc.

Website

https://ir.aifugroup.com

Company type

Public

Founded year

1998

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

AIFU Inc. (NASDAQ: AIFU) is a Cayman-incorporated financial services holding company that distributes life and P&C insurance in China through insurer partnerships, an agent network, and AI-enabled platforms including Du Xiaobao, serving middle-class families and intermediary agents.

Ownership category

akta.pro rank

Product category

Insurance Distribution and Financial Services

NAICS

Insurance Agencies and Brokerages (524210), Claims Adjusting (524291)

SIC

Insurance Agents, Brokers & Service (6411), Services-Computer Programming Services (7371)

akta.pro industry

PRIMARYHDAAAGAH

Financial Services Personalization (Banking, Investing, Insurance)

Hardware, Technology & Telecom/Artificial Intelligence & Machine Learning/Recommender Systems & Personalization

SECONDARYBPAEAHAJ

Responsible AI, AI Governance & Compliance Services

Business & Public Services/IT & Digital Services (Managed Services, Systems Integration)/Data, Analytics & AI Services

SECONDARYHDAEANAF

AI Observability, Monitoring & Evaluation Platforms (Drift, Quality, Safety)

Hardware, Technology & Telecom/Enterprise Platforms & Databases/Artificial Intelligence Platforms for Enterprise

Keywords

• Insurance distribution platform
• AI insurance technology
• Life insurance products
• Claims adjusting services
• Independent financial services

Headquarters

HQ city

Guangzhou

HQ country

China

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Insurance Commission Revenue: Commissions from insurance companies for distribution of insurance products, calculated as a percentage of premiums paid by customers. For long-term life insurance products, entitled to receive initial commissions and renewal commissions as policyholders continue to pay renewal premiums.
2. Claims Adjusting Services: Revenue from claims adjusting business, including auto insurance claims adjusting services. Net revenues of RMB222.1 million (US$30.6 million) for first half 2024.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

AIFU operates an AI-driven independent financial services platform in China that distributes life, property and casualty insurance products from 67 insurance company partners to individual consumers and SMEs through a hybrid online-offline model. The company earns commission revenue by connecting insurance carriers with customers via its AIX Platform, Du Xiaobao AI model, RONS Open Platform, Baowang (baoxian.com) online portal, and a national network of 539 sales outlets and 275 institutional MGA channels. Supplementary offerings include professional claims adjusting services delivered by 2,457 in-house adjustors.

Product overview

AIFU Inc. operates as an AI-driven independent financial services platform in China, offering a multi-product ecosystem centered on the AIX Platform. The platform encompasses proprietary AI technology (Du Xiaobao), insurance distribution platforms (RONS Open Platform, Baowang), health management services (AIX BluePlus), and a comprehensive range of life and property & casualty insurance products. The company connects insurance companies with agents and customers through technology-enabled services including automated underwriting, claims processing, and intelligent customer engagement. In 2024, AIFU announced a strategic partnership with Baidu AI Cloud and launched the Du Xiaobao L2 AI model. The company is currently undergoing strategic transformation with plans to expand into industrial AI through a proposed acquisition of Peakleap Ventures Limited.

Differentiator

Problem solved

Functional benefit

Brands

• RONS Open Platform: Digital and intelligent technology platform for financial and insurance industries
• Du Xiaobao
• Baowang (Baoxian.com)
• AIX BluePlus

Products and services

• AIX Platform Core AI-driven technology infrastructure connecting financial institutions, service providers, agents, and insurance intermediaries with automated underwriting, claims processing, risk management, and intelligent customer engagement capabilities. Serves as the foundation for AIFU's independent financial services ecosystem in China.
• Du Xiaobao AI Model AI-powered intelligent platform for insurance distribution, co-developed with Baidu Smart Cloud. The L2 model represents the first AI model in China's insurance industry, providing sales agents with intelligent assistance for customer engagement, smart marketing, product recommendations, and client education.
• RONS Open Platform Digital and intelligent technology platform for the financial and insurance industries, specializing in insurtech innovations and providing technology solutions for independent insurance distribution. Operated by AIFU's wholly-owned subsidiary RONS Intelligent Technology (Beijing) Co., Ltd.
• Baowang (Baoxian.com) Professional integrated online and offline insurance trading and service platform offering comprehensive risk protection solutions for individuals, families, and small to medium-sized enterprises through technology, products, and services integration. Currently offers over 300 flagship products from more than 30 insurance companies at www.baoxian.com.
• AIX BluePlus Health Management One-stop health and wellness service platform under AIFU established in 2010, providing health management services through partnerships with over 110 top domestic medical, wellness, and financial institutions, serving more than 50,000 clients annually. Includes medical testing, health management, and cell therapy services.
• Life Insurance Products Distribution

Quantifiable outcome

• 67 insurance company partners as of December 2025
• +2 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability8 records

Feature3 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Peakleap Ventures LimitedcoreStrategic or Co-development Partner · 11 June 2026Non-binding MOU signed for proposed acquisition of Peakleap Ventures Limited, a company specializing in industrial AI solutions for solid waste recycling and resource recovery sector. Proposed transformation into dual-engine ecosystem powered by 'Industrial AI + Digital Finance'. Target company has core technologies including computer vision and intelligent predictive maintenance.
• BGM Group Ltd.coreStrategic or Co-development Partner · 27 December 2024Strategic share exchange transaction completed December 2024. AIFU transferred intelligent insurance platform (RONS Technology and Xinbao Investment) valued at ~US$140 million to BGM in exchange for 69,995,661 BGM Class A ordinary shares. Upon completion, AIFU holds approximately 72.0% of BGM's equity interests. Partnership aimed at driving growth in AI insurance and healthcare sectors.
• BGM Group Ltd.coreStrategic or Co-development Partner · 29 November 2024Strategic transaction agreement signed November 2024 with BGM Group Ltd. (Nasdaq: BGM), a leading global provider of premium pharmaceutical products and services. AIFU transferred equity interests of RONS Technology and Xinbao Investment to BGM, valued at approximately US$140.0 million.
• Shanghai Biotecan Pharmaceuticals Co. Ltd.minorStrategic or Co-development Partner · 6 September 2024AIX BluePlus (wholly-owned subsidiary) signed strategic cooperation agreement with Shanghai Biotecan Pharmaceuticals for cutting-edge medical testing, health management, cell therapy, and other modern high-end medical and health management services. Biotecan is a pioneer in clinical molecular diagnostics in China.
• Baidu AI CloudcoreTechnology or Integration · 3 June 2024Strategic partnership with Baidu AI Cloud for application of large model in insurance distribution. Co-developed 'Du Xiaobao' L2, the first AI model in the insurance industry, launched for trial operation. Partnership focused on intelligent transformation within financial services industry.

Scale indicators9 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• SelectQuote, Inc. U.S. listed (NYSE: SLQT) insurance distribution and consumer-facing platform connecting consumers with life, auto, home, and health insurance from multiple carriers via agent and digital channels—directly comparable to AIFU's commission-based insurance agency model, although operating in the U.S. market.
• ZhongAn Online P&C and Health Insurance: Hong Kong-listed (6060.HK) Chinese online insurer using AI, big data, and ecosystem partnerships for mass distribution of P&C and health insurance—matches AIFU's China-centric, AI-driven insurance distribution model with the additional feature of also underwriting risk.
• EverQuote, Inc. U.S. Nasdaq-listed (EVER) insurance marketplace that connects consumers with insurance providers via AI-driven customer acquisition and matching technology—closely analogous to AIFU's Baowang (baoxian.com) platform on the model of using technology to drive insurance lead conversion.
• MediaAlpha, Inc. U.S. NYSE-listed (MAX) customer acquisition platform powering vertical search and lead-generation for insurance carriers—comparable to AIFU's AI-driven customer matching and smart marketing layer for insurance distribution, although MediaAlpha focuses on the technology layer rather than broker commissions.

Regional players

• LexinFintech Holdings Ltd. Nasdaq-listed (LX) Chinese consumer finance and InsurTech platform serving underbanked borrowers with embedded financial products—directly comparable in regulatory environment, U.S.-listed Cayman structure, and the model of technology-enabled financial product distribution in mainland China.
• Waterdrop Inc. NYSE-listed (WDH) Chinese InsurTech platform combining crowdfunding-style mutual aid with online health and life insurance distribution—shares the China/AI/insurance distribution focus with AIFU but emphasizes crowdsourced mutual protection rather than agent-led distribution.

Emerging players

• Bestow Inc. U.S.-based, venture-backed digital life insurance agency using data, APIs, and AI to distribute term life policies online—shares AIFU's digital-first life insurance distribution focus, but operates with full-stack carrier partnerships rather than agent-led distribution.

Broad incumbents

• Huatai Securities / Huatai-PineBridge: Major Chinese financial conglomerate with integrated wealth management, asset management, and insurance intermediary operations; represents the broader incumbent Chinese financial-services ecosystem against which AIFU's independent intermediary model is differentiated.
• Lemonade, Inc. U.S. NYSE-listed (LMND) AI-native insurance carrier using behavioral economics and large language models for customer engagement and claims—shares AIFU's use of AI for customer matching and underwriting signals, but acts as the underwriter rather than as a distribution intermediary.
• Ping An Insurance Group: Hong Kong-listed (2318.HK) Chinese insurance and financial services conglomerate with proprietary digital/AI capabilities including Lufax and OneConnect—overlaps with AIFU in Chinese life and P&C distribution and AI-enabled financial services but at vastly larger scale and as a primary carrier.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/AIXINC_
• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/aixinc2024
• Instagraminstagram.com/aix_inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries4 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AIFU