YSX Tech Company LTD (NASDAQ:YSXT) announced two cooperation agreements designed to expand its digital transformation services within China’s insurance industry.
The company signed a Technical Services Cooperation Agreement with Guangzhou Hengzhun Insurance Appraisal Co., Ltd. focused on insurance claims adjustment services. Through the partnership, YSX plans to introduce digital technologies such as AI-based image recognition, drone-assisted disaster evaluation, and blockchain-based evidence storage to streamline risk analysis and claims processing.
In a separate move, YSX subsidiary Xinjiang Yishengxin Network Technology Co. Ltd. entered into a two-year Technical Cooperation Framework Agreement with Tanbao Network Technology (Guangzhou) Co. Ltd. The collaboration will center on developing AI-powered insurtech solutions, including remote vehicle claims assessment tools and platforms for risk detection.
Tanbao Network, established in 2017, specializes in technologies related to video communication data processing and financial data analytics using artificial intelligence. The partnership is intended to combine Xinjiang Yishengxin’s client base and distribution channels with Tanbao Network’s AI expertise.
As part of the agreement, the companies will establish a dedicated coordination team and maintain regular communication channels. Planned activities include technical workshops, product demonstrations and client-focused events. Individual projects will be governed by additional agreements outlining operational procedures and commercial terms.
“These two partnerships represent a significant step forward in our ’Technology + Service’ strategy,” said Jie Xiao, Chairman and CEO of YSX.
YSX provides operational and technological solutions for insurance companies and brokerages across China through its variable interest entity structure. The company focuses primarily on automotive insurance after-sales services and digital infrastructure, with a service network covering vehicle safety, roadside assistance and maintenance.