General Manager Yin Xiaosong of Allianz China Life and his team visited Waterdrop (WDH.US) to deepen strategic cooperation in AI and product innovation.

On August 21, Yin Xiaosong, Director and General Manager of Dehua AnGu Life Insurance Co., Ltd., Xiao Ping, Assistant General Manager, Chief Information Officer, and Chief Operating Officer, Zhang Yue, Head of the Innovation Business Department, Cui Zhenxi, Head of the Sales Support Office of the Health Insurance Business Department, and Zhao Mengdi, Head of the Shandong Branch Integrated Business Department, visited Waterdrop Inc. (WDH.US). Waterdrop's founder and CEO Shen Peng, Waterdrop Insurance General Manager Ran Wei, and others jointly received the delegation. Both parties stated that in the future, they will jointly explore and continuously deepen cooperation in product innovation, AI digital collaboration, health management, customer service, and other areas to bring users a richer range of products and higher-quality service experiences.

Photo: Dehua AnGu Life Insurance delegation visits Waterdrop Inc.

Yin Xiaosong introduced that, centering on the concept of "insurance returning to its essence of protection," Dehua AnGu Life Insurance leverages the rich health insurance management experience of its German shareholder Allianz Group, adheres to a "customer-centric" service philosophy, and has worked closely with Waterdrop Insurance to reach deep consensus and drive innovation on the supply side of health insurance products. Together, they have launched several insurance products highly praised by the market, such as Xiao Qin Bao 2, Wuyou Shouhu, and Yisheng Shouhu, all of which fully demonstrate Dehua AnGu's deep insight into customer needs and the integration of health insurance with health management, continuously innovating the concept of insurance "protection" with more warmth. In the future, Dehua AnGu Life Insurance will continue to join hands with Waterdrop Insurance and industry peers to actively fulfill the mission of "insurance for the people," further integrate resources, deepen cooperation, and strive to innovate insurance products and services to create more considerate and warmer insurance solutions.

Shen Peng introduced that Waterdrop closely follows the development trend of technology and inclusive finance, is firmly committed to investing in new productive forces such as AI large models, and continues to deepen innovation on the supply side of products, helping inclusive insurance explore deeper and broader fields. Under the strategic direction of All in AI, Waterdrop has independently developed the "Waterdrop Shuishou Large Model," launched the country's first AI underwriting expert "KEYI.AI," the insurance AI Agent "Waterdrop Shuishou AI Insurance Expert," the AI intelligent customer service "Bao Xiaohui," the "Waterdrop Microfilm" empowering insurance agents to build personal IP, and the AI large model insurance quality inspection solution, among other AI innovative products. These leverage the scale benefits of AI large models to enhance the quality and efficiency of industry services across the upstream and downstream chains, while bringing users a more convenient and efficient service experience.

Photo: Waterdrop and Dehua AnGu Life Insurance teams in discussion

Relying on the advantages of AI technology and big data, in 2024, Waterdrop Insurance launched 174 customized insurance products, with customized products accounting for over 92%. It added 147 elderly-friendly insurance products and 43 products friendly to those with pre-existing conditions; it assisted users in completing insurance claims for those with pre-existing conditions totaling 38.128 million yuan, a year-on-year increase of 129.1%. Waterdrop Insurance insists on user value as the core, continuously refining and iterating, using technology to transform insurance for the elderly and those with pre-existing conditions from "scarce products" to "inclusive products."

Since 2019, Dehua AnGu Life Insurance and Waterdrop have established a close partnership, launching a total of 25 products, with more than 70 technical integrations, and reducing the average product launch cycle to 2 weeks. These include the industry's first medical insurance with no health declaration and guaranteed renewal for 5 years "Quan Yibao·No Health Declaration Medical Insurance," the first long-term income compensation insurance in China for those up to 70 years old "Wuyou Shouhu," the first critical illness insurance in the industry covering three highs and three nodules "Yisheng Shouhu," and the first new long-term disease insurance for the elderly in China covering 10 high-incidence critical illnesses including malignant tumors "Xiao Qin Bao 2," among other innovative insurance products with industry significance. To date, the two parties have provided 36 billion yuan in disease insurance protection for nearly 450,000 customers, building a commercial health protection service matrix for middle-aged and elderly people with social value.

In 2024, Waterdrop Insurance, together with Dehua AnGu Life Insurance and more than ten other insurance companies, jointly established the "Three Good Service Alliance," committing to comprehensively improve user service experience in five key areas: product supply-side innovation, deep collaboration in claims services, joint construction of service response channels, technology empowerment for efficiency, and user information protection.

Photo: Shen Peng and Yin Xiaosong

Both parties agreed that, against the backdrop of an aging population and the upgrading of residents' health protection needs in China, there is a significant supply and demand gap in segmented insurance markets such as silver insurance, disability, and substandard body types. Looking ahead to 2025 and beyond, both sides will focus on the main theme of "deepening and expanding cooperation," continue to leverage their respective strengths, and further deepen strategic collaboration in multiple dimensions, including risk control coordination, closed-loop health management services, AI application exploration, joint marketing, and brand promotion. At the same time, they will further deepen interaction and cooperation at the group level, jointly promote supply-side innovation of insurance products, provide more inclusive and intelligent insurance services for hundreds of millions of customers, and convey the warmth and responsibility of insurance.