WeSure Launches Novel Coronavirus Pneumonia Insurance Covering 15 Million People Against Outbreak of Covid-19

SHENZHEN, China, Feb. 14, 2020 /PRNewswire/ -- Following the 2019 novel coronavirus outbreak ("Covid-19"), WeSure, Tencent's insurance platform, swiftly established an emergency response team to provide real-time information to users, and introduced multiple insurance plans designed to protect those who may be affected.

WeSure's Covid-19 response team was assembled in early January 2020. On January 29, WeSure offered its first Covid-19 coverage, free of charge, to front-line medical workers providing up to 600,000 CNY upon Covid-19 diagnosis. Over 100,000 medical professionals across China signed up for the plan within just one week.

On February 1, WeSure and WeChat Pay partnered up to provide insurance targeting small and medium business owners affected by Covid-19. Any merchants who have been diagnosed with Covid-19 will receive 1,000 CNY a day to offset losses from business disruption.

On February 5, WeSure was the first to open up Covid-19 coverage to all WeChat users with a minimum 10,000 CNY cash compensation. The first of its kind on the market, users can sign up for the universal insurance for free by accessing WeSure's service within WeChat.

"During these critical times, WeSure remains more committed than ever to protecting China's medical workers and the broader public. Our full support is behind the fight against Covid-19," said Mr. Alan Lau, CEO of WeSure. "Our team worked non-stop, many from remote locations while on leave outside of Shenzhen during the Chinese New Year break, to respond with products and services that meet the needs of medical workers, patients and the broader public. In a crisis like this one, Internet has a bigger role to play than ever. Social distancing is critical to curbing Covid-19 spread. With a smartphone in hand, users can sign up for our insurance plans by accessing our Mini-Program inside WeChat, 24/7, wherever they are."

Covid-19 coverage for diagnosed medical workers

Launched on January 29 together with AXA and DingXiangYuan, WeSure's Covid-19 medical worker insurance plan is the first in the market that pays a cash compensation upon diagnosis.

Medical workers at specified primary and secondary public hospitals, treatment centers, and pharmacies are eligible to sign up for WeSure's Covid-19 coverage for free.

Medical workers may submit a claim for up to 100,000 CNY after Covid-19 diagnosis. Family of medical workers may submit a claim for up to 500,000 CNY following death caused by Covid-19.

Through WeSure's Mini-Program on WeChat, the insured users can submit claims online. So far, 50 claims have been settled with cash compensation made to diagnosed doctors and nurses.

WeSure and WeChat Pay partnered up to open up financial aid to over 50 million small business owners

On February 3, WeSure and WeChat Pay introduced a Covid-19 insurance plan that offer financial aid to small business owners affected by the novel coronavirus. Underwritten by PICC, users can apply for the aid from the "Gift Upon Payment" program within WeChat Pay. If the owner or his/her spouse is diagnosed with Covid-19 and admitted for inpatient treatment, they can claim a cash compensation of CNY 1,000 per day for up to 30 days.

The 50 million small-business WeChat Pay users make up a crucial part of China's economy. With people cutting down significantly on outdoor activities, small business owners are among the hardest hit. "Over a million users have signed up for this insurance plan within a week. We hope that our coverage will help partly offset business disruption for small business owners due to Covid-19", said Mr. Lau of WeSure.

Launched China's first free insurance plan with a minimum cash compensation of 10,000 CNY for Covid-19 diagnosis; up to 3 trillion CNY in insurance coverage

On February 5, WeSure launched the country's first Covid-19 insurance plan with a minimum cash payout of 10,000 CNY for confirmed Covid-19 diagnosis. The coverage, available to all Chinese nationals aged 0-65, is underwritten by Taikang Insurance, and offered for free as part of WeSure's philanthropic effort to help those affected. Over 3 million users have signed up for the plan in less than two weeks.

There are two tiers to the insurance plan. The first is available to all Chinese nationals. Users can claim 10,000 CNY in cash upon Covid-19 severe-condition diagnosis. In the case of death due to Covid-19, their family can claim 50,000 CNY.

The second plan provides additional protection for existing WeSure medical plan users. For those that are already insured by WeSure, they can sign up for a coverage that pays out 50,000 to 100,000 CNY, depending on level of severity of the user's Covid-19 condition.

Beside the three dedicated Covid-19 plans covering medical workers, small business owners and the general public, WeSure also expanded coverage of all its existing medical policies to include hospital cash of 100-150 CNY per day for confirmed Covid-19 patients. Across all these insurance plans, WeSure has provided Covid-19 coverage for 15 million users in China in just under two weeks since the outbreak began.

About WeSure

WeSure Insurance Ltd. is Tencent's insurance platform. Leveraging Tencent's strengths of data-driven and social connection, WeSure works with well-known insurance companies to provide users with high-quality insurance services. Users can make insurance purchases, inquiries and claims directly on the firm's vastly popular instant messaging and lifestyle platform, WeChat and QQ.

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SOURCE WeSure