Junling Technology Secures Tens of Millions of Yuan in Series A Funding Led by Sherpa Healthcare Partners

On October 22, VCBeat (WeChat ID: vcbeat) learned that Junling Technology had completed a Series A financing round worth tens of millions of yuan, with Sherpa as the investor. The funds raised in this round will be primarily used for the company’s in-depth expansion in the health insurance sector, including talent recruitment, technological research and development, and market expansion.

Junling Technology positions itself as a third-party insurtech and risk control services company. Focusing on commercial health insurance, it integrates high-quality medical service providers through product and service innovation, establishes an intelligent operations and risk control platform, and builds a three-dimensional service network encompassing “medical care, pharmaceuticals, and information.” This enables the company to provide one-stop product and risk control solutions for insurance companies and related stakeholders.

To date, Junling Technology has established strategic partnerships with more than 35 insurance and reinsurance companies and platforms, achieving a year-on-year doubling of its B2B and B2C customer base and helping partners attain a 90% online service rate. The company has developed over 130 insurance products and plans, including high-, mid-, and low-end medical expense insurance for both the general population and specific groups, customized employee benefit plans for enterprises, and fixed-benefit cancer and critical illness insurance.

In terms of innovating and productizing health management services, Junling Technology has established a service product portfolio across four key dimensions: “Assisted Diagnosis Insurance,” “Prevention Insurance,” “Health Promotion Insurance,” and “Rehabilitation Insurance,” connecting with nearly 2,000 pharmaceutical and health management service institutions. Additionally, Junling Technology pioneered the industry’s first comprehensive, itemized claims processing for medical insurance, accumulating nearly ten million records of commercial medical insurance data. Notably, in 2020, Junling Technology was recognized as one of China’s Top 100 InsurTech Companies by VBInsight.

Regarding the details of this round of financing, VCBeat (WeChat ID: vcbeat) conducted an exclusive interview with Ms. Qian Peihua, Founder and General Manager of Junling Technology, to analyze from multiple perspectives why Junling Technology has attracted capital favor.

Since 2020, amid the impact of the COVID-19 pandemic, public health awareness has significantly improved, and greater attention has been paid to health risks. The health insurance industry has demonstrated robust growth momentum in recent years. Data from the China Banking and Insurance Regulatory Commission (CBIRC) shows that in the first quarter of 2020, the health insurance business generated RMB 264.1 billion in gross written premiums, a year-on-year increase of 21.6%. A review of statistical data over the past five years reveals a compound annual growth rate (CAGR) of approximately 30% for health insurance.

From the perspective of the health insurance value chain, product development, sales, underwriting, claims processing, and healthcare management are mutually supportive components. Therefore, integrating operational and technological capabilities across the entire business chain is essential to enhancing operational efficiency and user experience in health insurance, thereby facilitating sustained and healthy business growth. For most insurance companies, the challenge lies not in addressing isolated issues, but in achieving a comprehensive upgrade of overall health insurance business operations.

In response to this, Junling Technology’s solution is to design a full-process operational risk control system centered on “health insurance + health management.” The first step is to productize health management services. Junling Technology carefully selects high-quality service providers, leverages their service capabilities, and then integrates these services into insurance coverage products through R&D of service offerings, liability design, and pricing assessment.

In commercial insurance risk control technology services, Junling Technology provides one-stop solutions that span from front-end customer service to back-end claims data risk management. The front end features an integrated platform for customer service, claims processing, medical care, and health management; the back end leverages claims data, big data analytics, and artificial intelligence to progressively establish a risk control system for commercial health insurance.

The productization and digitization of services, combined with a data-driven risk control system, enable Junling Technology to establish a closed-loop ecosystem of “health insurance + health management.” This facilitates the sustainable operation of insurance policies, supports partners in rapidly building underwriting and operational capabilities for health insurance, and reduces upfront investment and losses. Meanwhile, policyholders benefit from the convenience of integrated health management and claims services, enjoy a superior health management experience, and receive precisely coordinated medical care arrangements.

Among the founding team, Ms. Qian Peihua, Founder and General Manager, graduated from Wuhan University with a major in Finance and Insurance. With nearly 30 years of experience in the insurance industry, she has held positions at multiple insurance companies, including PICC, Ping An Life, and Ping An Health. She possesses extensive management expertise in company establishment, strategic planning, sales promotion, and internet marketing.

Zhang Yujie, Deputy General Manager, graduated with a law degree from Southwest University of Political Science and Law. She has nearly 15 years of experience in the insurance industry, having held positions at multiple insurers including Ping An Health Insurance and CPIC-Allianz. She possesses extensive expertise in product development, strategic planning, and operational analysis.

Cheng Hong, Deputy General Manager, graduated from Fudan University with a major in Software Engineering. He has nearly 15 years of experience in the insurance industry and has previously held positions at technology companies such as Ping An Technology and WeDoctor. He possesses extensive expertise in project management, claims risk control, and system planning.

“Our team possesses extensive experience in the research and development as well as operational risk control of health insurance products. We have mastered localized product R&D capabilities and gained expertise in adapting internationally advanced health and medical insurance business management systems to local markets,” said Ms. Qian Peihua. “Since entering the market in late 2016, we have accumulated collaborative experience with five major property & casualty, life, and health insurers, as well as internet-based insurance companies, through more than three years of practical engagement. This has significantly enhanced our team’s overall capabilities and cohesion.”

Sherpa was founded in 2018. Its founders previously worked together at a leading Chinese venture capital firm, where they established and led the healthcare investment team in 2011, overseeing healthcare investments and managing healthcare funds. United in purpose and resilient through challenges, the Sherpa team has forged ahead with determination. Today, Sherpa has become an influential venture capital institution in China’s healthcare sector.