WeSure poised to expand insurance coverage after glowing results

WeSure aims to offer more simple, scenario-based insurance products to the masses in the second half, after achieving glowing results since its first product launch last November.

Thanks to its easy-to-understand product designs and illustrations, WeSure has seen rapid business development in the first six months of 2018, with 12.67 million monthly active users.

Data show that every user on the platform has an average of 2.2 policies for their family, with one in five buying insurance plans for themselves as well as their family members through WeSure.

Besides, up to 57 percent of WeSure’s users made repurchases in July and around a third of those with plans covering critical diseases bought health care policies.

For the first time in the industry, WeSure has recently unveiled a term insurance product designed to relieve pressure on the bread-winner of families by combining term insurance and annuity.

The platform also introduced new services like posting monthly insurance reports and giving electronic hongbao, or red packets, containing gift insurance to provide a better experience for users.

The Tencent-affiliated platform seeks to find consumers’ real needs and sore points by positioning itself as a "connector” between clients, products and scenarios, said Alan Lau, chairman and chief executive officer of WeSure.

To provide wider protection for the masses, Lau said that they will keep on selecting and recommending quality services in the latter half by teaming up with leading insurance companies such as the People’s Insurance Company (Group) of China Ltd, Ping An Group and Metlife.