Waterdrop Inc receives the Cailian 2021 China Corporate ESG Best Social Case Award
BEIJING, Oct. 27, 2021 /PRNewswire/ — Waterdrop Inc. (NYSE: WDH) (“Waterdrop” or “the Company”), a leading technology platform dedicated to insurance and healthcare service with a positive social impact, announced that Waterdrop became a finalist for 2021 China Corporate ESG Best Social Case Award organized by leading media organization Cailian.
“Waterdrop’s mission is to bring insurance and healthcare service to billions through technology. Waterdrop uses internet technologies to serve users from lower tier cities who are largely underserved, and to provide these users with inclusive insurance products and healthcare services”, said Shen Peng, Founder and CEO of Waterdrop.
Ye Yingxi, head of ESG Department at Waterdrop, said that social responsibility is embedded in Waterdrop’s DNA. “We originated the business to solve users’ medical payment and healthcare needs, and aim to supplement the social medical insurance system in China“, she said. “We have built a massive social network of protection and support for people, raising awareness of insurance and ultimately providing affordable insurance and healthcare service to users.”
Waterdrop released its first ESG & CSR Report in 2019, according to Ye, the company is currently actively elevating its strategy in the ESG & CSR space. As early as in 2017, Waterdrop established Waterdrop Foundation to carry out its charitable activities, which provides the institutional infrastructure for Waterdrop to further develop its ESG footprint. Ye believes that in addition to financial responsibility, a great company also needs to take multiple social responsibilities.
According to the award organizer Cailian, the award pays tribute to the Chinese companies that have made outstanding contributions to the development of ESG in China. The award represents the industry’s recognition of responsible enterprises and helps spread their influence.
In the first half of 2021, Waterdrop Insurance Marketplace generated first-year premiums (“FYP”) of RMB 9.8 billion. The cumulative number of insurance customers of Waterdrop reached 102.1 million, and the cumulative number of paid insurance users reached 24.9 million. Through Waterdrop Medical Crowdfunding platform, as of June 2021, approximately 372 million people donated RMB 43 billion in aggregate to over 2.1 million patients who have been seeking help to afford significant medical cost, and Waterdrop charges zero fee from this business.
In recent years, Waterdrop also has been actively fulfilling its social responsibilities by operating Waterdrop Charity Foundation, a platform aspiring to improve the social charity infrastructure and social charity funds utilization efficiency through technology. Waterdrop Charity was included in the list of public internet crowdfunding platforms for charitable organizations recognized by Ministry of Civil Affairs of the PRC. By the end of 2020, nearly 44 million donations were generated through Waterdrop Charity, with RMB 846 million cumulatively raised.
About Waterdrop Inc.
Waterdrop Inc. (NYSE: WDH) is a leading technology platform dedicated to insurance and healthcare service with a positive social impact. Founded in 2016, with the comprehensive coverage of Waterdrop Insurance Marketplace and Medical Crowdfunding, Waterdrop aims to bring insurance and healthcare service to billions through technology. For more information, please visit www.waterdrop-inc.com.
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SOURCE Waterdrop Inc.
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