Alibaba, Tencent, Baidu, and Rakuten total a whopping $478B in aggregate public market cap. And over the past several years, all four Asian tech giants have made major inroads into the multi-trillion dollar insurance industry by way of partnerships, joint ventures, investments, and acquisitions. Rakuten, for example, acquired AIRIO Life Insurance in September 2012, which it has since rebranded Rakuten Life Insurance Co.