On August 21st, a delegation from Taikang Allianz Life Insurance Company Limited, led by Director and General Manager Yin Xiaosong, along with General Manager Assistant, Chief Information Officer, and Chief Operating Officer Xiao Ping, Innovation Business Department Head Zhang Yue, Health Insurance Division Sales Support Manager Cui Zhenxi, and Shandong Integration Business Department Head Zhao Mengdi, visited Waterdrop Inc. (WDH.US). They were received by Waterdrop Inc. Founder and CEO Shen Peng, Waterdrop Insurance General Manager Ran Wei, and other representatives. Both parties expressed their commitment to jointly explore and continuously deepen cooperation in product innovation, AI digital collaboration, health management, and customer service to provide users with richer products and superior service experiences.

Yin Xiaosong introduced that, centered around the concept of "returning insurance to its protective essence," Taikang Allianz Life Insurance leverages the rich health insurance management experience of its German shareholder Allianz Group. Adhering to a "customer-centric" service philosophy, the company has partnered with Waterdrop Insurance to achieve deep consensus and focus on supply-side innovation in health insurance products. They have successively launched multiple market-acclaimed insurance products, including Xiaojinbao 2, Worry-Free Protection, and Easy Life Protection, all of which fully reflect Taikang Allianz's deep insight into customer needs and its philosophy of deeply integrating health insurance with health management to continuously innovate more caring insurance "protection" solutions.

Moving forward, Taikang Allianz Life Insurance will continue to work alongside Waterdrop Insurance and industry peers to actively fulfill the mission of "insurance for the people," further integrate respective resources, deepen cooperation, and strive to innovate insurance products and services to create more considerate and caring insurance solutions.

Shen Peng introduced that Waterdrop closely follows the development trajectory of technology and inclusive finance, firmly investing in AI large models and other new productive forces, continuously deepening supply-side innovation in products, and helping inclusive insurance explore deeper levels and broader fields. Under the strategic direction of "All in AI," Waterdrop has independently developed the "Waterdrop Guardian Large Model" and launched multiple AI innovative products, including China's first AI underwriting expert "KEYI.AI," the insurance sector AI Agent "Waterdrop Guardian AI Insurance Expert," AI intelligent customer service "Bao Xiaohui," "Waterdrop Micro-Video" that empowers insurance agents to build personal IP, and AI large model insurance quality inspection solutions. These leverage the technological scale benefits of AI large models to improve industry service quality and efficiency across upstream and downstream chains while providing users with more convenient and efficient service experiences.

Leveraging AI technology and big data advantages, in 2024, Waterdrop Insurance launched 174 customized insurance products, with customized products accounting for over 92% of the total. It added 147 elderly-friendly insurance products and 43 products friendly to people with pre-existing conditions. The platform cumulatively assisted users in completing insurance claims for people with pre-existing conditions totaling 38.128 million yuan, representing a 129.1% year-over-year increase. Waterdrop Insurance persists in focusing on user value, continuously refining and iterating to use technology to elevate insurance for senior citizens and people with pre-existing conditions from "scarce products" to "inclusive products."

Since 2019, Taikang Allianz Life Insurance has maintained close cooperation with Waterdrop, cumulatively launching 25 products with over 70 technical integrations, shortening the product launch cycle to an average of 2 weeks. These include the industry's first "Full Medical Insurance·No Health Declaration Required Medical Insurance" that requires no health declaration and guarantees 5-year renewability, China's first long-term income compensation insurance "Worry-Free Protection" available to those up to 70 years old, the industry's first "Easy Life Protection" critical illness insurance that covers and compensates for the three highs and three nodules, and China's first long-term disease insurance for the elderly "Xiaojinbao 2" covering 10 high-incidence critical illnesses among the elderly. As of now, both parties have provided nearly 450,000 customers with 36 billion yuan in disease insurance protection, constructing a commercial health protection service matrix for middle-aged and elderly populations with significant social value.

In 2024, Waterdrop Insurance, together with Taikang Allianz Life Insurance and over ten other insurance companies, jointly established the "Triple Excellence Service Alliance," committing to comprehensively enhance user service experience through five major aspects: supply-side product innovation, deep coordination in claims services, joint construction of service response channels, technology-enabled efficiency improvement, and user information protection.

Both parties unanimously believe that against the backdrop of China's deepening population aging and upgrading resident health protection needs, there are significant supply-demand gaps in segmented insurance markets such as senior insurance, disability insurance, and non-standard health insurance. Looking toward 2025 and the longer-term future, both parties will focus on the main theme of "deepening and expanding cooperation," continue to leverage their respective advantages, and further deepen strategic coordination across multiple dimensions including risk control collaboration, closed-loop health management services, AI application exploration, and joint marketing and brand promotion. They will also further deepen interactions and cooperation at the group level, jointly promote supply-side innovation in insurance products, and provide hundreds of millions of customers with more inclusive and intelligent insurance services, conveying the warmth and responsibility of insurance.