Taikang Life teams with Taobao to insure online shops

Taikang Life Insurance Co, the country's fourth largest life insurer, signed a deal with Taobao on Tuesday to sell insurance policies to Taobao's online sellers.

The move, according to industry experts, is a further integration of financial enterprises and Internet companies in exploring the online financial market.

There are more than 7 million online shops in Taobao, with employees exceeding 10 million. Most of them are in their 20s without social insurance protection, thus creating a huge demand for life insurance.