BEIJING, Oct. 27, 2021 /PRNewswire/ -- Waterdrop Inc.
(NYSE: WDH) ("Waterdrop" or "the Company"), a leading technology
platform dedicated to insurance and healthcare service with a
positive social impact, has taken a leading position in the
government-backed health insurance product (known as "Huiminbao") market, one of the fastest
growing government-backed commercial health insurance products in
the Chinese insurance industry in recent years. Through its
expansion into cities such as Beijing, Zibo and Dezhou, Waterdrop has
further effectively carried out its socially responsible mission of
building out comprehensive medical protection systems across the
country by offering local residents coverage on high medical
costs.
Huiminbao products are characterized by strong inclusive
benefit, low financial threshold, and wide protection coverage.
Middle to low-income residents, particularly seniors and the
elderly, could therefore benefit from a great peace of mind from
the products' low premiums and high sum-insured.
Since this year, Waterdrop has expanded its Huiminbao offerings
and has secured a leading position in the Chinese market. Waterdrop
will also leverage its platform in providing comprehensive services
including medical crowdfunding, insurance marketplace and
healthcare and pharmaceutical services to benefit the wider
public.
On July 26, "Beijing Huiminbao"
was launched, which offered medical coverage to residents of up to
RMB 3 million per year for only an
annual premium of RMB 195. Since
debuting on the Waterdrop platform, the product has insured over 3
million customers. Beijing Huiminbao is jointly directed by the
Beijing Municipal Medical Insurance Bureau and the Beijing Local
Financial Supervision and Administration and supervised by the
Beijing Supervisory Bureau of the CBIRC.
On September 6, "Zibo Huiminbao
2021" was launched, which is the first universal commercial
supplemental medical insurance in Shandong Province. Waterdrop is the operating
platform, under the guidance of Zibo Medical Insurance Bureau and
supervision of Zibo Banking and Insurance Supervision Branch. The
number of insured exceeded 200,000 on the first day of operation
and has since grown to nearly 1,000,000.
On October 13, "Dezhou Huiminbao"
was launched, with over 100,000 subscribers on the first day. With
Waterdrop as the operating platform, the product is guided by the
Dezhou Municipal Medical Insurance Bureau, supervised by the Dezhou
Banking and Insurance Supervision Branch, with PICC P&C as the
main underwriter.
Waterdrop's participation in the Huiminbao market further
enriches the company's product ecosystem and will help the company
deliver the benefits of insurance to more consumers who need it
most.
Yang Guang, General Manager of
Waterdrop Insurance Marketplace, said that the positioning of
Waterdrop in the Huiminbao market is a "one-stop shop" insurance
technology platform covering product design, platform
establishment, retail sales, pharmaceutical benefit management, and
patient services etc.
About Waterdrop Inc.
Waterdrop Inc. (NYSE: WDH) is a leading technology platform
dedicated to insurance and healthcare service with a positive
social impact. Founded in 2016, with the comprehensive coverage of
Waterdrop Insurance Marketplace and Medical Crowdfunding, Waterdrop
aims to bring insurance and healthcare service to billions through
technology. For more information, please visit
www.waterdrop-inc.com.
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SOURCE Waterdrop Inc.