Waterdrop Insurance Marketplace Opens Its First Agency Outlet in Wuhan

BEIJING, Aug. 17, 2022 /PRNewswire/ -- Waterdrop Inc. ("Waterdrop", the "Company" or "we") (NYSE: WDH), a leading technology platform dedicated to insurance and healthcare service with a positive social impact, recently opened its first agency outlet in Wuhan. It will provide local residents with a range of specialized insurance services, such as insurance customization, security risk assessment, policy consulting, and entrusted policy management.

At the end of 2020, China Banking and Insurance Regulatory Commission ("CBIRC") released relevant policies, encouraging insurance practitioners to open outlets in urban communities, counties, and towns.

Over the past few years, Waterdrop Insurance Marketplace has kept exploring the new path that combines online and offline presence. In March 2022, Waterdrop kicked off the recruitment of independent insurance agents nationwide, with the aim to cultivate professional elites who are proficient in digital operations.

Aiming at our independent insurance agents, Waterdrop earlier launched exclusive rules with industry-leading income allocation methods, thereby improving our agent retention rate and providing customers with more professional and qualified services.

Besides, by delving into local communities, Waterdrop's agency outlets in community learn more about customer needs, improve customers' recognition of insurance products, including the product features, the processes for insurance application and claims settlement, as well as the meanings of health declaration and other relevant clauses, thereby assuring customers in purchases.

Li Jia, Waterdrop Vice President in Insurance, said, "the Wuhan agency outlet is one of the first pilot outlets set up by Waterdrop; after the sustainable operation capability is proven, Waterdrop will expand the model into more cities and communities."

Shen Peng, our Founder, Chairman and CEO, commented, "Waterdrop will build a highly-specialized and well-trained professional team, so as to provide clients with customized insurance services through efficient online and deep-going offline operations. The agency outlets in community will enhance the stability and professionalism of insurance practioners, raise the awareness of compliant operation, improve the industry's overall image, and facilitate the high-quality development of the industry."

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 Waterdrop 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.