Ping An Good Doctor and Minsheng Insurance Reached Strategic Cooperation to Create New Values Under "Insurance + Health" Model

Ping An Good Doctor
2019-07-22 15:22 9913

SHANGHAI, July 22, 2019 /PRNewswire/ -- The world leading online healthcare ecosystem platform, Ping An Healthcare and Technology Company Limited ("Ping An Good Doctor", or the "Company"; stock code: 01833.HK), has announced that it had signed a cooperation agreement with Minsheng Life Insurance Company Limited ( "Minsheng Insurance") to create new values under the "Insurance + Health" model by leveraging their respective advantages, so as to achieve upgrade of business models and services for insurance users, and jointly solve the pain points and difficulties insurance users face when they seek medical treatment. Both parties aim to work diligently in the insurance, medical and healthcare industries, and carry out in-depth cooperation in areas such as health management and life enjoyment.

Since late 2016, the former China Insurance Regulatory Commission has proposed to "lead the insurance industry to its fundamental purpose". With a view to guiding the insurance industry back to its fundamental purpose -- protection, various insurance companies, which hold a strong belief that "the insurance industry should focus on providing insurance services", have devoted great efforts to business structure re-adjustment and product transformation, with an emphasis on customer experience and service. Under such industry background, Ping An Good Doctor has actively explored the cooperation model with the insurance industry, so as to assist insurance companies with the transformation of their main business from capital-driven to technology-led, facilitate business transformation and meet the needs of insurance companies in terms of scenario-based, large-scale, personalized and diversified consumption with the help of financial technology.

Ping An Good Doctor, the world leading one-stop healthcare ecosystem platform, empowered by its proprietary artificial intelligence (AI) technology, in-house medical team and external doctors, to provide users with 24/7 one-stop medical healthcare services, such as online consultation services, hospital referrals, appointments, inpatient arrangements, second medical opinions and one-hour medicine delivery.  As of the end of December 2018, there were 265 million registered users and the Company's monthly active users (MAU) reached 54.7 million, making it the largest mobile medical application in China in terms of user scale.

Minsheng Insurance officially commenced operation in 2003 with a registered capital of RMB6 billion. It has dual headquarters in Beijing and Shanghai, and owns subsidiaries such as Minsheng Tonghui Asset Management Company Limited and Tonghui Kangyangyou Company Limited. Believing in the fundamental purpose that insurance is to offer protection, it has established a comprehensive product system comprising various types of insurance such as life insurance, annuity insurance, health insurance and accident insurance, providing users with all-round protection that covers their entire life cycle. As of the end of 2018, Minsheng Insurance registered insurance premium income of more than RMB11.5 billion and total assets of nearly RMB110 billion, making profits for nine consecutive years; it had 25 branches, almost 800 service outlets with more than 40,000 professional practitioners to serve nearly 8 million users.

Source: Ping An Good Doctor
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