Alipay rolls out nose print recognition technology for cats and dogs as part of its newly launched medical insurance offering for pets.
Alipay's first-ever pet identity recognition solution will help support their insurance offering which covers multiple common diseases and injuries.
Online payment firm claims that nose print recognition technology has a 99 percent success rate identifying animals, according to a «Caixin» report, with similar uniqueness to that of human fingerprints. More adoption of the technology is expected across pet healthcare, urban pet management and other services.
Pet Insurance
Alipay's insurance offering was rolled out in partnership with China Continent Property & Casualty Insurance. and online-only insurer ZhongAn Online P&C Insurance. The products are priced between 199 yuan and 700 yuan ($28.50-100) per year.
Alipay is not alone in the online pet insurance market within Greater China with «One Degree» most notably recently obtaining a digital license in Hong Kong. Founded in 2016 by an ex-J.P. Morgan banker, the insurer has a focus on medical coverage for pets through partnerships with major veterinary clinics in the city.
