BGM Group Establishes "Duxiaobao Management Committee" to Accelerate AI Strategy and Drive Intelligent Transformation in the Insurance Industry

Rhea-AI Summary

BGM Group (Nasdaq: BGM) has established the 'Duxiaobao Management Committee' to accelerate its AI strategy in the insurance industry. The committee appointed Li Yuqing as Duxiaobao CEO, alongside several vice presidents including Li Jun, Ren Yong, Zhou Xin, and Tan Yinghua.

The committee brings together industry experts with diverse backgrounds: Li Yuqing, former senior executive at Didi Chuxing; Li Jun, an insurance technology expert; Ren Yong, with 15 years of insurance intermediary experience; Zhou Xin, former Alibaba product expert; and Tan Yinghua, a Microsoft MVP.

The initiative aims to leverage AI technology to transform insurance operations, focusing on automating policy transactions and enhancing operational efficiency. This strategic move is designed to allow insurance brokers to focus on core business areas while reducing manual transaction handling.

Positive

• Strategic expansion into AI technology sector
• Appointment of experienced leadership team with strong tech and insurance industry backgrounds
• Focus on operational efficiency and cost reduction through AI automation

Negative

• None.

CHENGDU, China, Feb. 19, 2025 /PRNewswire/ -- BGM Group Ltd. (Nasdaq: BGM) announced the establishment of the "Duxiaobao Management Committee," which will be fully responsible for the management and decision-making of the "Duxiaobao" ecosystem. This move signifies BGM Group's strategic entry into the field of artificial intelligence, aiming to accelerate the transformation of the insurance industry into the smart era through AI technology.

The Duxiaobao Management Committee consists of industry leaders such as Xin Chen, Li Yuqing, Ge Peng, Zhao Qi, Ren Yong, Li Jun, Zhou Xin, and Wang Hui. The committee has appointed Li Yuqing as the CEO of Duxiaobao, with Li Jun, Ren Yong, Zhou Xin, and Tan Yinghua as Vice Presidents. Mr. Li Yuqing, formerly a senior executive at Didi Chuxing Science and Technology Co., Ltd., brings extensive experience in managing internet platforms and will oversee Duxiaobao's overall operations and expansion in the blue-collar worker service market. Mr. Li Jun, an expert in information technology, digitization, and intelligent systems within the insurance sector, will lead the development and optimization of the technical architecture. Mr. Ren Yong, with 15 years of insurance intermediary experience and 5 years as CEO of a US-listed company, will oversee the Baowang business division. Mr. Zhou Xin, a former product expert from Alibaba Group Holding Limited, who led the development of the health code project, will drive the rapid transformation of Duxiaobao into intelligent avatars. Xin Chen, an outstanding young talent of the Post-90s Generation and formerly an algorithm engineer at Shenzhen Dajiang Innovation Technology Co., Ltd. and Geely Automobile Holdings Limited, has a keen vision for the future of  the AI era. Tan Yinghua, a Microsoft Most Valuable Expert and a pioneer in AI entrepreneurship and investment, will be responsible for AI application innovation and mergers and acquisitions.

Mr. Xin Chen, CEO of BGM Group, expressed warm congratulations and high hopes for the establishment of the management committee. Xin Chen stated: "The establishment of the Duxiaobao Management Committee is a significant milestone for BGM Group in the field of AI. We believe that, with the members' rich industry experience and profound professional backgrounds, Duxiaobao will play a leading role in the intelligent transformation of the insurance industry. AI is a key driving force in reshaping industry productivity. We look forward to Duxiaobao, under the leadership of Mr. Li Yuqing, promoting the deep integration of technology and business, bringing new business models and efficiency improvements to the insurance industry."

Newly appointed Duxiaobao CEO Mr. Li Yuqing expressed a strong commitment and dedication to the appointment. Li Yuqing stated: "I am honored to join BGM Group and serve as the CEO of Duxiaobao. The intelligent transformation of the insurance industry is a tremendous opportunity and a challenging task. I will lead the team to fully leverage my experience in internet platform operations to maximize the application of Duxiaobao's intelligent technology. Our goal is to use advanced technology to innovate and optimize business processes, enhance operational efficiency, and empower the team, ultimately saving time investment and reducing costs for insurance brokers. By not having to handle policy transactions manually, insurance brokers can focus on more core and challenging business areas, achieving 'automating simple tasks and refining expertise for complex ones.' We are committed to promoting the AI-driven transformation of the company, delivering a more precise and efficient service experience for our customers."

About BGM Group Ltd

BGM Group Ltd. has a strategic focus on the technology fields of AI application, intelligent robots, algorithmic computing power, cloud computing, and biopharmaceuticals.

In terms of AI application implementation, the group relies on big data mining and AI Agent technology, and utilizes the two platforms of Du Xiao Bao and Bao Wang to provide comprehensive and professional AI solutions and intelligent robot services for insurance companies, insurance brokers, and consumers. Its services cover multiple key scenarios such as sales and marketing, underwriting assessment, claims processing, and customer service. The group is capable of analyzing consumer data, building consumer profiles, accurately predicting insurance needs, and providing highly customized services for consumers.

In the field of biopharmaceuticals, the group's biopharmaceutical division mainly produces oxytetracycline API, crude heparin sodium, and licorice preparations, which are widely supplied to the global animal husbandry, pharmaceutical, and drug retail markets. The group deeply integrates AI-assisted decision-making into every link of production and manufacturing, achieving supply chain optimization, process efficiency improvement, and market trend prediction. This provides scientific decision-making basis for the management and offers high-quality products and precise services for consumers.

Forward-looking Statements

This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates", "target", "going forward", "outlook" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

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SOURCE BGM Group Ltd

FAQ

What is BGM's new Duxiaobao Management Committee and its purpose?

The Duxiaobao Management Committee is BGM's newly established body responsible for managing the Duxiaobao ecosystem, focusing on implementing AI technology in the insurance industry to drive intelligent transformation.

Who are the key executives appointed to BGM's Duxiaobao initiative?

Li Yuqing was appointed as CEO, with Li Jun, Ren Yong, Zhou Xin, and Tan Yinghua serving as Vice Presidents. Each brings specific expertise in technology, insurance, and AI sectors.

How will BGM's Duxiaobao affect insurance broker operations?

Duxiaobao aims to automate policy transactions, reducing manual handling and allowing insurance brokers to focus on core business areas, ultimately improving operational efficiency and reducing costs.

What is BGM's strategy for AI implementation in insurance?

BGM's strategy focuses on using AI to innovate and optimize business processes, enhance operational efficiency, and enable automated policy transactions while maintaining human expertise for complex tasks.