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Shuidi company, the largest independent insurance technology platform in China, officially landed on the New York Stock Exchange

The following is the Shuidi company, the largest independent insurance technology platform in China, officially landed on the New York Stock Exchange recommended by And this article belongs to the classification: Industry information.

On the evening of May 7, shuidi company, China’s leading insurance and health services technology platform, successfully landed on the NYSE for IPO, becoming China’s “first share of insurance technology” on the NYSE. After the listing, the stock code of shuidi company is “WDH”, with an initial public offering of 30000000 ADSS at a price of US $12 per share.

The New York Stock Exchange welcomes Waterdrop INC. (NYSE: WDH), today, Friday, April 23, 2021.Photo Credit: NYSE

Founded in 2016, shuidi company currently has two main businesses, namely “shuidi chip”, an online help platform for serious illness, and “shuidi insurance”, a health insurance technology platform. Through an integrated business model, shuidi company provides users with solutions spanning pre disease protection and post disease support. Through network effect, shuidi company can reach users, help fund-raising users to solve the funding gap of serious illness medical treatment, and enhance the awareness of participating donors. Through comprehensive data accumulated in various scenarios, shuidi company can deeply understand users’ behaviors and needs, and then provide users with full life-cycle health insurance and security services with big data and artificial intelligence, And began to expand to the field of medical and health services.

Water drop fund is the pioneer of network serious illness fund-raising service fee, and also the largest personal serious illness help platform in China. Water drop funding is not for profit, it belongs to post illness assistance, but it helps the company reach users through social networks, and awakens donors’ attention to their own body and awareness of universal education security.

As an Internet insurance technology platform, shuidi insurance cooperates with 62 insurance companies to boost inclusive insurance with science and technology. As an insurance platform focusing on Internet health insurance, with strong online service ability and big data insight and analysis ability, shuidi insurance achieves efficient operation efficiency, To provide high cost-effective insurance products and insurance services from underwriting to claims for sinking market users. The commission income of shuidi insurance is the main income of shuidi company. In 2020, the net income of shuidi company will be 3.028 billion yuan, with a year-on-year growth of 100.4%; The commission income was 2.695 billion, accounting for 89.1%.

In terms of the premium scale of health insurance and life insurance in 2020, shuidi is the largest independent third-party insurance platform in China, with more than 14.4 billion yuan of first year premium (FYP) in 2020. As of December 31, 2020, shuidi has served 79.4 million insurance users.

According to iResearch’s data, China’s demand for medical security has not been fully met to a large extent, and the gap is as high as trillions. China’s insurance penetration rate and insurance density are still far lower than those of developed countries. In the current situation of the domestic insurance industry, health insurance is undoubtedly in the “C” position, and life insurance and health insurance have become the main growth drivers of the insurance market. Since 2014, a series of regulatory policies have been issued to promote the development of commercial health insurance from multiple dimensions. In the past few years, the premium of health insurance has maintained a double-digit growth. In 2020, the health insurance premium will increase by 15.66% year on year. In January 2021, the China Banking and Insurance Regulatory Commission and other departments proposed to strive to make the scale of commercial health insurance market exceed 2 trillion yuan by 2025. In April this year, the China Banking and Insurance Regulatory Commission (CIRC) issued a draft for soliciting opinions, clearly proposing to promote the rapid development of inclusive life insurance, and actively develop products with low insurance threshold, affordable price and simple and clear protection responsibility in the face of low-income groups.

With the digitalization of the insurance industry, the iResearch report shows that in 2019, the premium from online channels of China’s life insurance and health insurance accounts for 6.0% of the total market. In 2024, this proportion is expected to rise to 9.7%, with an average annual compound growth rate of 26.1%. For shuidi company, the next development of the whole health insurance and life insurance market means increasing guarantee energy and expanding huge new market increment.

In the past three years, the performance of shuidi insurance has shown an “exponential growth” momentum. As of December 31, 2018, December 31, 2019 and December 31, 2020, the cumulative number of insurance users is about 1.7 million, 8.8 million and 19.2 million, while the first year premium (FYP) generated by shuidi insurance is 972 million yuan, 6.668 billion yuan and 14.426 billion yuan in 2018, 2019 and 2020 respectively.

Long term insurance can not only bring stable and sustainable income for the company, but also establish long-term cooperative relationship and huge development space with users. Since 2019, shuidi company has started to develop long-term insurance business, with the proportion rising continuously. In 2020, the first year premium (FYP) of long-term insurance products is RMB 2.51 billion, with a year-on-year growth of 356%. The proportion of commission income of long-term insurance increased from 0.6% in 2018 to 21.5% in 2020.

The advantages of insurance technology platform in terms of data also continuously help shuidi realize the innovation of insurance product supply. It is learned that at present, most of shuidi’s 200 kinds of insurance products are jointly designed insurance products. For example, in March 2019, shuidi Insurance launched the first “one million medical insurance for the elderly” in China, whose insurance age is up to 80 years old. The accumulated premium in the first year is more than 385 million yuan. Subsequently, insurance products for thyroid, diabetes, hypertension and other groups were launched one after another. At the beginning of this year, shuidi Insurance launched the “shuidi sugar insurance” customized for patients with diabetes mellitus, which can be insured for patients with pre diabetes or type II diabetes, with a maximum coverage of 300000 yuan.

As an insurance technology company, shuidi highlights “advanced technology and differentiated data insight” in its prospectus. After nearly five years of development, shuidi company has gradually formed a set of intelligent system called “shuidi brain”. By taking advantage of the huge advantages of big data, it realizes the basis of big data through collection, analysis and processing, and then enables the landing application through AI capabilities (NLP, OCR, recommendation algorithm, nuclear authentication, etc.), and finally forms intelligent underwriting, intelligent claim settlement, intelligent medical treatment, intelligent management system, etc Risk control and other solutions. At present, shuidi insurance has completed the intelligent online service of underwriting, renewal, refund and surrender, and the realization rate is close to 100%.

Shuidi is also working with its partners to further penetrate into the insurance value chain. Its goal is to provide digital services such as intelligent underwriting and intelligent claim settlement to insurance companies. The technical service revenue will increase from 59 million yuan in 2018 to 194 million yuan in 2020.

Shen Peng, founder and CEO of shuidi company, believes that shuidi is still a health insurance platform in essence. Health insurance is only the beginning and also the entrance of shuidi in the future. In the future, shuidi will continue to expand the supply of insurance products and health services.

It is reported that since the second half of last year, relying on the user accumulation, data insight and payment ability of financing, insurance and other businesses, shuidi has begun to expand into the field of medicine and health management, and has successively tested the business of “shuidi health” and “shuidi good medicine payment”. Shuidi health provides internet medical and health management services for healthy and sick people, Water drop medicine payment mainly provides insurance innovation payment and health management services for patients with diseases. According to the CICC report, in the future, if shuidi can open up the interfaces between the medical and health services and the platforms in the health insurance sector, it is expected to build a one-stop health management platform of “insurance + medicine + innovative payment”, which will provide users with high-frequency health management services, and help to better serve the diseased bodies inside and outside its own ecology, through long-term and continuous interaction with users, Improve user stickiness, user value and brand effect.

In the future strategy, the goal of shuidi company is to create an “insurance + health services” ecosystem, further expand the coverage and participation of users, invest in data analysis and technical infrastructure, deepen the cooperation with medical institutions, open up various medical payment methods, and provide consumers with a wider choice of medical and health services. Read more: the number of global IPOs increased by 44% year on year in 2017, reaching the peak after the financial crisis 2015 review and 2016 prospect of IPO market in mainland China PwC | strong IPO performance of global technology companies in the third quarter of 2015, total IPO volume exceeding 2013 Unicorn technology companies no longer keen on IPO due to private placement Unicorn technology companies no longer keen on IPO due to private placement Q2’s M & a transaction in 2020 amounted to 14.8 billion US dollars. Why are they still listening to music on their iPods? Investment Research Institute: IPO market report in the third quarter of 2019

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