Brokerage's partnership vow

WeSure Internet Insurance, a brokerage affiliated to Internet giant Tencent, vowed to deliver more innovative and inclusive insurance plans by working with partners.

Positioning itself as a “connector” between users, underwriters and other service providers in insurance, the Shenzhen-based company says it is committed to making protection more accessible and affordable.

Its new cancer drugs policy was well received, with many customers buying coverage within a week of the plan’s debut online, making it WeSure's most popular protection plan to date.

The insured population is reported to be mainly between 26 and 40 years old, which means that the post-1980s and 1990s generation are becoming more aware of insurance as a way to safeguard their health.

The new insurance scheme, Yao Shen Bao in Chinese, is the first of its kind to guarantee policyholders’ rights in seeking, obtaining and taking anti-tumor drugs once they are diagnosed with cancer.

Previous private insurance plans in China tended to offer policyholders a large sum of money when they had a critical disease.

“We aim to bring more hope and more chance of recovery to people suffering from cancers, instead of just giving them money,” Alan Lau, WeSure's chairman and CEO, said at an event in Shanghai.

Costing users 1 yuan (14 US cents) or 6 yuan a month, there are two versions, the plan will be a great complement to China’s current basic social security system, according to industry insiders.

Lau said the company hopes to build a multi-level, inclusive medical security system by utilizing the power of the Internet and by encouraging millions of people to join mutual aid plans.

At the event, WeSure allied with Beijing-based startup crowdfunding Qschou in a bid to better serve customers.