Latest virus outbreak prompts Beijing residents to seek infectious diseases insurance

Tencent’s insurance platform WeSure has seen a surging number of Beijing residents take out insurance policies on its platform following an outbreak of COVID-19 cases in the capital over the past week.

From June 13 to June 18, the proportion of insured Beijing users of an insurance plan for specific infectious diseases soared to nearly 40 percent, the highest across the country, data from the Shenzhen-based insurance agency said.

By Thursday, Beijing had reported 603 confirmed domestically transmitted cases in the latest outbreak.

The resurgence of the pandemic has once again catalyzed public demand for insurance, WeSure said.

To better shield users against potential aggregated infection and bring reassurance to policyholders, the insurance offering is designed to protect up to six family members with one contract.

The amount of coverage for each family member is independent of each other, and even if one person makes a claim, the protection for others will remain valid.

A recent study by WeSure and Fudan University found that the novel coronavirus pandemic was a wake-up call for the public on the importance of insurance.

“People are beginning to realize the necessity and urgency of seeking protection via purchasing insurance, but they still have some doubts when making the final decisions.” said Alan Lau, CEO of WeSure.

 “In view of this, insurance companies should think about how to make full use of technology to strengthen user education and develop more customized offerings to embrace this large number of potential users," he added.