NEW YORK, June 10, 2026 (GLOBE NEWSWIRE) -- Lucas GC Limited (NASDAQ: LGCL) ("Lucas" or the "Company"), an artificial intelligence (the "AI") technology-driven Platform-as-a-Service (the "PaaS") company whose technologies have been applied to the human resources and insurance industry verticals, announced today that it had received two invention patents related to Agentic AI application in the insurance business.
Lucas received the "Artificial intelligence-based robot automation process for independent insurance sales agents method and system" with Patent No.: ZL 202310158569.X from China, and "Blockchain-based credential vault system" with Patent No.: HK40088280 from Hong Kong.
The China online insurance market size in terms of gross written premiums value is expected to reach over US$986 billion by 2029 at a compound annual growth rate (CAGR) of 6.9%, according to Research and Markets, while the general insurance market size in Vietnam in terms of gross written premiums value is projected to grow at a CAGR of 7.0%, reaching US$4 billion by 2029, according to GlobalData.
"Integrating the patented agentic AI technologies into Lucas' large language model (LLM) resulting in significant cost reduction and efficiency improvements for our insurance clients. We intend to apply the technology in the insurance business in both China and ASEAN (Association of Southeast Asian Nations) countries where we intend to expand our business, in line with our strategy to expand our sales outside China. From 2023 to 2025, Lucas spent over US$70 million in R&D representing over 14% of our total revenue. As a technology company, we intend to continue to invest heavily in R&D in order to further solidify our technical leadership in the Asian markets. The technologies we have developed in the U.S. and China can be re-deployed into other fast-growing markets such as the ASEAN markets so that we don't have to reinvent the wheel," said Howard Lee, Chairman and CEO of Lucas GC Limited.
About Lucas GC Limited
With 24 granted U.S. and Chinese patents and over 75 registered software copyrights in the AI, data analytics and blockchain technologies, Lucas GC Limited is an AI technology-driven Platform as a Service (PaaS) company whose technologies have been applied to the human resources and insurance industry verticals. For more information, please visit: https://www.lucasgc.com/.
Forward-Looking Statements
Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements." The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the uncertainties related to market conditions. Any forward-looking statements contained in this press release speak only as of the date hereof, and Lucas GC Limited specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.
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