Baige Online’s MaaS revenue jumps nearly 5.8 times through August

Internet insurance technology services provider Baige Online Digital Technology Co. Ltd. (2672.HK) announced on Sunday that revenue from its Model-as-a-Service (MaaS) business reached about 47.4 million yuan ($7.06 million) in the first eight months of this year, up 579.8% from just 7 million yuan a year earlier, as commercialization of the service accelerated.

The company says its MaaS platform is built on a self-developed AI risk control and decision-making large model. It packages capabilities including risk identification, precise pricing, intelligent underwriting and claims risk control into standardized services, charging enterprise customers based on usage. The services are designed to help customers achieve digital transformation, reduce costs and improve efficiency.

Customer coverage continued to expand during the period, while delivery capabilities of its model services improved. Its service invocation volume exceeded 7.5 million during the eight-month period.

Baige Online said the rapid growth in revenue and invocation volume reflected stronger usage of its model services among enterprise customers. It added that the business had moved from the pilot validation phase into large-scale commercialization.

Baige Online’s shares opened higher on Monday before reversing course and falling more than 35% at one point in morning trade. The stock closed at HK$37.3 by the midday break, down 34.45%, but still more than double its June IPO price.

By Lee Shih Ta

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