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SunCar Technology Group Inc. CEO Meets the President of Starr Strategic Holdings

NEW YORK, Sept. 08, 2023 (GLOBE NEWSWIRE) --  SunCar Technology Group Inc. (“SunCar” or the “Company”) (Nasdaq: SDA), a leading provider of digitalized enterprise automotive after-sales services and online auto insurance intermediation service in China, announced that SunCar’s CEO, Mr. Ye recently met with X. Rick Niu, the President of Starr Strategic Holdings, LLC. Starr Strategic Holdings, LLC is the division of Starr Insurance Companies dedicated to serving the insurance and investment needs of Asian and other emerging market companies and individuals doing business in the U.S.

Mr. Ye and Mr. Niu discussed the business landscape and opportunities for cooperation in the insurance market in China. With SunCar’s proven strengths in providing both insurance intermediation and after-sales services to insurance companies, they believe a business relationship between the two entities would be mutually beneficial.

About SunCar Technology Group Inc.

Originally founded in 2007, SunCar is transforming the customer journey for car insurance and aftermarket services in China, the largest passenger vehicle market in the world. SunCar develops and operates online platforms that seamlessly connect drivers with a wide range of automotive services and insurance coverage options from a nationwide network of provider partners. As a result, SunCar has established itself as the leader in China in the B2B automotive after-sales services market and the online insurance market for electric vehicles. The company’s multi-tenant, cloud-based platform empowers its enterprise clients to optimally access and manage their customer database and offerings, and drivers gain access to hundreds of services from tens of thousands of independent providers in a single application.

Forward-Looking Statements

This press release contains information about the Company's view of its future expectations, plans and prospects that constitute forward-looking statements. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of products and services, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property. The Company's encourages you to review other factors that may affect its future results in the Company's annual reports and in its other filings with the Securities and Exchange Commission.

Contact

SunCar:

Investor Relations: Ms. Hui Jiang

Email:IR@suncartech.com

Legal: Ms. Li Chen

Email: chenli@suncartech.com