Our Mission: We at Waterdrop aspire to bring insurance and healthcare service to billions through technology. (Note: Incorporated in the Cayman Islands)
Overview: We are a leading technology platform dedicated to insurance and healthcare service with a positive social impact. We are the largest independent third-party insurance platform in China in terms of life and health insurance first year premiums, or FYP, distributed in 2020, according to iResearch. Through our medical crowdfunding, mutual aid platforms, and our insurance marketplace, we have built a massive social network of protection and support for people, raising awareness of insurance and ultimately providing insurance and healthcare service to consumers in China.
According to iResearch report, in 2019, the total healthcare service expenditures in China reached RMB7.0 trillion, among which RMB4.7 trillion was not covered by the social medical insurance, commercial insurance, or other supplemental medical protection. With Waterdrop being a trusted brand in China, we are well positioned to capture this market opportunity for insurance and healthcare service. According to a public survey conducted by iResearch, our insurance marketplace and medical crowdfunding platforms rank No. 1 in terms of brand awareness among independent third-party insurance distribution platforms and medical crowdfunding platforms respectively.
As of Dec. 31, 2020, we collaborated with 62 insurance carriers to offer 200 health and life insurance products, majority of which are jointly designed with insurance carriers, leveraging our deep understanding of the consumer demand and actuarial capabilities. Our platform is designed to be mobile-first, digitally-native, and deeply connected with insurance carriers to ensure smooth and friendly user experience throughout the process from underwriting to claim services.
|Industry:||Insurance agents & brokers|
|Address||Block C, Wangjing Science and Technology Park No. 2 Lize Zhonger Road, Chaoyang District, Beijing People’s Republic of China|
|Phone Number||+86 10 5339-4997|
|View Prospectus:||Waterdrop Inc.|
|Revenues||$464.1 mil (last 12 months)|
|Net Income||$-101.7 mil (last 12 months)|
|Price range||$12.00 - $12.00|
|Est. $ Volume||$360.0 mil|
|Manager / Joint Managers||Goldman Sachs (Asia)/ Morgan Stanley/ BofA Securities|
|CO-Managers||ABCI/ China Merchants Securities (HK)/ China Renaissance/ CLSA/ Haitong International/ Futu/ Tiger Brokers|
|Expected To Trade:||5/7/2021|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|