News Life and Health02 Apr 2018

China:Strategic digital insurance partnership formed

| 02 Apr 2018

Global life and health insurer MetLife and digital insurance provider WeSure, has formed a strategic partnership to offer insurance solutions to travellers through the WeSure online insurance platform.

This alliance marries WeSure’s extensive base of one billion monthly active users on Tencent’s mobile social communications platform, WeChat, with MetLife’s global expertise in life and health protection solutions, and enables both parties to collaborate in fields such as big-data analysis, tailor-made and intelligent value-added services to deliver easier to use, more transparent end-to-end protection solutions for Chinese travellers.

WeSure is the insurance agency platform of Chinese Internet services giant Tencent, and started operations last November.

The partnership’s first solution is an aviation accident insurance product which will be provided on the WeSure platform and focus on an optimised customer experience, protection level and price. According to the Annual Report of China Domestic Tourism Development 2017, the number of domestic travellers in China reached 4.5 billion in 2016, with a steady year-on-year growth of 15%.

MetLife has been accelerating its digital footprint through collaboration with well-established online platforms in China to develop new products and services, and this partnership underlines MetLife's determination to improve customer experience through omnichannel options in the digital age.

“MetLife China is dedicated to providing life and health protections through career agency, telemarketing and digital channels and bank partners. The partnership with WeSure is our answer to customers’ needs for simpler, more transparent, fast, and convenient experiences in the digital era,” said Ms Siyi Sun, CEO of MetLife China.

Mr Alan Lau, Chairman and CEO of WeSure, said: “WeSure would like to connect insurance companies and end users. On the one hand, we collaborate with leading insurance companies to develop competitive products and make it simple for users to find quality products. On the other hand, by serving the user via Tencent’s WeChat now and QQ platform in future, we are to deliver more user-driven products and services.” WeChat is a multi-purpose messaging and social media app while QQ is an instant messaging platform.

Sino-US United MetLife Insurance (MetLife China) was incorporated as a joint venture company formed by a subsidiary of MetLife. and state-owned Shanghai Alliance Investment Ltd (SAIL). MetLife offers life and accidental insurance and savings products to individuals over 20 cities in China through its career agency, bancassurance, and direct & digital marketing channels.

 

 

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