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PR Newswire

Waterdrop Inc. CEO Shen Peng Attends Future China Global Forum 2022

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BEIJING, Oct. 10, 2022 /PRNewswire/ — On October 7, 2022, the Future China Global Forum 2022 was held in Singapore. Mr. Peng Shen, Founder and CEO of Waterdrop, attended the forum via video link and introduced the Company’s operations in Singapore.

Initiated by Singapore’s former prime minister Mr. Lee Kuan Yew in 2010, the Future China Global Forum is an international exchange platform that gathers leaders and experts from political, industrial, business, and academic circles. Themed “Stability Amidst Turbulence”, the 2022 session invited over 30 guest speakers, including celebrities like Lawrence Wong, Singapore’s Vice Prime Minister and Minister of Finance, Liu Shijin, Deputy Director of the Economic Affairs Committee of the CPPCC National Committee and Vice Chairman of China Development Research Foundation, Jia Qingguo, Director of the Institute for Global Cooperation and Understanding of Peking University, Danny Quah, Dean of the Lee Kuan Yew School of Public Policy at NUS, and Li Shimo, founder, and executive partner of Chengwei Capital.

In terms of investment in Southeast Asia, Shen Peng said Waterdrop has been an active player in the Belt and Road Initiative by expanding its presence in the countries along the routes. In 2019, Waterdrop Medical Crowdfunding raises donations through the Internet in collaboration with Singapore local charitable organizations to help people in need.

In 2022, Waterdrop decided to make Singapore an operating and management center for its operations under the Belt and Road Initiative, as Singapore has the geographical location, infrastructure, economic and cultural environment, and a talent pool ideal for Chinese companies to pursue global development.

Shen Peng said, “In their global move, Chinese enterprises should adjust operations to local conditions, and do what they are best at in a new market. Only by focusing on ‘basic skills’ can they serve local people well, win user recognition, build competitive edges and take roots locally.”

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.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. Statements that are not historical facts, including statements about Waterdrop’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in Waterdrop’s filings with the SEC. All information provided in this press release is as of the date of this press release, and Waterdrop does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

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Source: Waterdrop Inc.

PR Newswire

Waterdrop Releases User Family Insurance Report

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BEIJING, Aug. 26, 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 released the User Family Security Report. According to the survey of the users of Waterdrop Insurance Marketplace, the report shows that users’ insurance purchase behaviors are highly associated with families.

Users aged below 30 prefer to purchase insurance for parents

The Report shows that insurance purchasers aged below 30 pay more attention to their parent’s insurance, 49% of whom choose to purchase insurance for parent first.

Mr. Hui Teng, the chief actuary of Waterdrop, commented, “Most of the users aged below 30 were born in the 1990s and are only children. Many families have one child and four parents to support. They urgently need to plan pension and insurance services for themselves and their parents as early as possible.”

Users aged 31-40 prefer to purchase insurance for children

According to the Report, among users of all ages, those aged 31-40 saw the highest proportion, or 17%, when it comes to insurance purchases for children. Most of these users are the backbone of their families. Some of them just become parents, and some have had multiple children, paying more attention to children’s insurance.

But this doesn’t mean they ignore the insurance for themselves. The survey also shows, that 47% of the users aged 30-40 choose to purchase insurance for themselves first, 23% for parents, 17% for children, and 13% for spouses.

Users aged above 40 prefer to purchase insurance for “themselves or spouses” first. On a specific term, 61% of them choose to purchase insurance for themselves, 16% for spouses,14% for parents, and 9% for children.

According to the Report, the biggest number of users who purchase their first commercial insurance for themselves or family members are those aged 25-34, who represent over 31% of the total.

In the mind of users, the top 3 essential insurance coverage for families is “Medical insurance, Critical illness insurance, and Casualty insurance”. Medical insurance and critical illness insurance are the most basic insurance policies. Casualty insurance is also among the most popular entry-level insurance types.

The report also shows that more than 81% of users have three or more family insurance policies.

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.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. Statements that are not historical facts, including statements about Waterdrop’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in Waterdrop’s filings with the SEC. All information provided in this press release is as of the date of this press release, and Waterdrop does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

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Source: Waterdrop Inc.

PR Newswire

Waterdrop Releases the 2020-21 ESG Report – Striving to Provide High-quality and Sustainable Protection to Billions of Families

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BEIJING, Aug. 4, 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 released its “2020-21 Environmental, Social and Governance Report” (the “ESG report” or the “report”). This is the first ESG report published since the public offering of Waterdrop. The report unveils the ESG performance of the Company in the areas of corporate governance, social responsibility, technology and innovation, industry value chain, workplace development, green development, and other topics for 2020-21. It also illustrates how Waterdrop leverages its sophisticated business model and technological innovation to resolve various social issues, thereby achieving its effective business performance and sustainable prospects.

Mr. Peng Shen, Founder, Chairman, and Chief Executive Officer of Waterdrop commented, “Since our inception, ESG has been embedded in our corporate mission and business philosophy. The 2020-21 ESG report unveils our continuous efforts to enhance our ESG capabilities, including the provision of online medical fundraising services to approximately 2.4 million patients with critical illnesses through our Waterdrop Medical Crowdfunding platform, and providing inclusive insurance to more than 100 million users whom over 70% are from Tier-3 or lower-tier cities. The report also demonstrates that Waterdrop has attached great weightiness to its ESG-related efforts. Along with our strict compliance with relevant laws and regulations, we have developed rigorous management systems in corporate governance, compliance operations, supplier management, employee management, and low carbon development. At the same time, we have set up a dedicated Social Responsibility Department which empowers our business competitive advantages and technological innovation to integrate resources from various partners, thereby driving sustainable social value. Going forward, we will continue to make every endeavor to promote ESG, striving to achieve our mission of ‘leveraging internet technologies to make insurance protection more inclusive and accessible to the public, and bringing insurance and healthcare services to billions’.”

Business innovation to provide financial relief for medical treatments and prevent patients with critical illness from being impoverished

In early 2021, the State Council published The Opinions of the CPC Central Committee and the State Council on Deepening the Medical Insurance System Reform, proposing that a medical protection system that centers on basic medical insurance, underpinned by medical aid that includes the mutual development of supplemental medical insurance, commercial health insurance, charitable donations, and mutual medical assistance, should be well-established by 2030. Waterdrop leverages its business strengths to provide a solid supplement to China’s multi-layer medical protection system, thereby offering innovative financial assistance solutions for the medical treatments of the needy.

Pioneered from the health protection model of “Waterdrop Medical Crowdfunding (fundraising for patients with critical illnesses)” and “Waterdrop Insurance Marketplace (life and health insurance)” platforms, Waterdrop has utilized its innovative technologies to provide financial relief for the medical treatments of its users, in particular for the low-income group, the marginalized, and the minority communities, thereby improving the efficiency of emergency medical relief. As of the end of 2021, 394 million caring individuals offered medical financial relief of exceeding RMB48.4 billion to patients with critical illnesses and financial difficulties. Waterdrop has highly regarded individuals not covered by traditional insurance, including the low-income group, the elderly, and people with pre-existing medical conditions. The Waterdrop Insurance Marketplace has thus launched various low-threshold, cost-effective, and inclusive insurance products to satisfy the protection needs of these vulnerable groups, such as “Waterdrop Carefree Thyroid Insurance”, “Waterdrop Elderly Medical Insurance”, etc. Currently, out of the over 100 million users on its platform, about three quarters are located in third-tier or lower-tier cities, highlighting the Company’s efforts to improve the penetration rate of health and medical insurance in China.

The financial pressure from the patients to receive medical treatment that are not covered by national medical insurance is also a social issue the general public faces. Through “Waterdrop Medicine”, the Company has provided comprehensive services including healthcare services and diversified medical payment solutions for patients in need of new drugs for special medical purposes, chronic disease drugs, and rare disease drugs. The results relieved the financial pressure on such patients and enhanced the accessibility and affordability of specific medicine. As of the end of 2021, Waterdrop has assisted over 150,000 patients with critical illnesses saving medical expenses of more than RMB50 million.

It is not sufficient to rely on merely one company or a particular business section to utterly resolve a social issue. Henceforth, Waterdrop has integrated various parties to explore more supplementary channels to address the supply of medical relief funds beyond the national medical insurance. The Company is engaged in the establishment of a multi-layer medical protection system and served as a “supplementary layer” through its Waterdrop Medical Crowdfunding, Waterdrop Charity, and other businesses. In March 2021, Jinyun County Healthcare Security Administration of Zhejiang and Waterdrop launched a project named “Jin Qing Bang” to establish a multi-layer medical insurance and poverty prevention system. 5 months after the launch of “Jin Qing Bang“, the platform has helped reduce the out-of-pocket medical expenses of the needy by more than RMB14 million, equivalent to a per capita reduction of over RMB5,000, or a year-over-year decline in such expenses of about 12%. Waterdrop expects the number of people in poverty caused by diseases to reduce by 77% annually. Waterdrop also contributes the export of its technological capabilities for product design, platform construction, marketing and promotion, pharmacy benefit management, and other patient services to empower Hui Min Bao projects for more than 10 cities in mainland China. More than 12 million people have benefited from the low-threshold and high-protection of Hui Min Bao products launched in various cities.

Technological innovations empower the improvement in operational efficiency and promote the development of the healthcare industry

Since its inception, Waterdrop has been consistently investing in R&D to leverage technology to empower its businesses, improve its operational efficiency, and support its service upgrades. In 2021, its R&D expenses increased by 55.2% year-over-year to RMB 379 million, accounting for 11.82% of total revenues. The increase was mainly attributable to the expansion of its R&D team and the strengthening of its technological competitiveness.

Given its in-depth insights into the healthcare industry, Waterdrop unveiled the “ABDC” strategy (AI + Blockchain + Data = Construction), in 2020. Focusing on the application of technologies such as AI and big data analysis in its businesses, Waterdrop has developed its proprietary intelligent systems and tools, including the claims settlement system, “intelligent calculation” system, risk management system, system related to storage media and computing equipment technology, AI-powered matching system, the CONF medical knowledge map, and the intelligent chatbot system, which has improved its operational efficiency and user experience significantly. The Company also took a major step forward by applying for national patents for its inventions and technological innovations.

Meanwhile, the Company has launched Waterdrop Open Platform 2.0, enhancing its capabilities to empower the digitalization, process management, data analytics, and smart operations of the insurance industry.

For marketing insurance products, the AI-powered matching system can match each user with the most appropriate insurance consultants. This applies to users who speak Cantonese, Sichuan Putonghua, or other dialects, thereby improving the APL efficiency of insurance consultants significantly. For insurance claims, Waterdrop’s intelligent claims system is capable of settling a claim in 8 seconds. This has helped save the consumption of 2.61 million paper documents, and the users’ waiting time for claims settlement. The insured people do not need to repeatedly mail paper documents, and do not have to worry about the long hours and complexity of claims settlement. The big data analysis and the CONF medical knowledge map can help generate more accurate estimates of the funds needed for the medical treatment of fundraisers in the Waterdrop Medical Crowdfunding platform, based on information about their illness categories, treatment methods, and the hospitals they attend.

Leveraging technology to effectively drive charitable social value

In 2018, Waterdrop launched an online fundraising platform called “Waterdrop Charity“, which was later designated by the Ministry of Civil Affairs as one of the online fundraising platforms for charity organizations. Waterdrop Charity has leveraged technology to improve the efficiency of fundraising and fund utilization, providing all-around support for charity organizations. From 2020 to 2021, Waterdrop Charity launched a total of 9,451 projects which cover a wide range of areas including anti-pandemic action, emergency and disaster relief, and rural revitalization, raising a total of RMB833,776,562 from 47,258,209 donators.

During the initial outbreak of the pandemic in 2020, Waterdrop Charity collaborated with over 20 charity organizations and raised more than RMB65 million for the purchase of medical masks, protection gear, and other anti-pandemic supplies. At the same time, Waterdrop Charity joined hands with the China Social Welfare Foundation to launch the “Emergency Response Workers Protection Program”, providing financial relief to frontline medical staff who were infected with or died from Covid-19. Up till now, the program has granted a total of RMB400,000 to four medical workers who contracted the virus, and RMB1 million to the families of two police officers who died on duty, honoring their contribution to the anti-pandemic efforts.

In face of catastrophes, Waterdrop Charity has promptly organized charity projects to integrate the efforts of various parties to distribute relief supplies so that the disaster victims could return to normal life quickly. The Henan Rainstorm Disaster Relief program that Waterdrop Charity launched in 2021 has raised approximately RMB 16.8 million in donations, assisting the transfer and resettlement of more than 209,000 victims. Waterdrop Charity also launched the “Baby Whale Project” to alleviate the financial burden of families whose children suffer from critical illnesses. The project has helped raise more than RMB150 million for the medical expenses of these children from nearly 4.84 million donators, benefiting 1,795 families. Moreover, Waterdrop has initiated the Waterdrop Charity Home program to offer temporary accommodation for patients with critical illnesses and their families during their medical treatment. To date, more than 30 charitable homes have been built in 7 cities across China.

It remains a key focus of Waterdrop to contribute to China’s poverty alleviation and rural revitalization efforts. As a key program to support rural revitalization, the Waterdrop Rural Clinic has built 64 clinics across China, benefiting over 150,000 people in rural areas. Waterdrop is planning to establish 1,000 clinics in 100 counties across the country by 2030, making a greater contribution to rural revitalization and a better China.

Implementing our mission to “put people first and build a better society”

Waterdrop is a company driven by its mission and values. It pursues employee equality and diversity, regarding its employees as partners working for a common cause. Based on this belief, Waterdrop has built an equitable and inclusive workplace with strong growth potential.

Waterdrop promises not to discriminate against employees in recruitment, compensation, training, promotion, and retirement due to differences in gender, race, disability, social class, political affiliation, or any other factors. In 2021, Waterdrop recruited employees from more than 20 ethnic groups, with the proportion of female employees and female managers reaching 46.8% and 28.99%, respectively. Waterdrop also offered customized comprehensive female medical check-up packages, nursing rooms, and breastfeeding leave to its female employees.

For talent training, Waterdrop provides customized training programs for employees in different positions. A comprehensive training system and a variety of training activities are introduced to facilitate all-around growth of every staff, from a new hire to a backbone team member and a leader. In 2021, Waterdrop invested RMB1.69million in employee training, attaining 9,683 participations or an average of 3.3 training sessions for each employee, and achieving a 100% training coverage rate. Meanwhile, Waterdrop has established a clear talent development path and a flexible internal job transfer system for employees’ continued exploration and growth in the suitable positions.

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.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. Statements that are not historical facts, including statements about Waterdrop’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in Waterdrop’s filings with the SEC. All information provided in this press release is as of the date of this press release, and Waterdrop does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor inquiries, please contact:

Waterdrop Inc.
Xiaojiao Cui
IR@shuidi-inc.com

Christensen
In China
Mr. Eric Yuan
Phone: +86-1380-111-0739
E-mail: Eyuan@christensenir.com

In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@christensenir.com

Cision View original content:https://www.prnewswire.com/news-releases/waterdrop-releases-the-2020-21-esg-report–striving-to-provide-high-quality-and-sustainable-protection-to-billions-of-families-301600056.html

Source: Waterdrop Inc.

PR Newswire

Insurance providers can assess customer health risks in real-time using contactless vital sign monitoring solution from NuraLogix

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LAS VEGAS, June 29, 2022 /PRNewswire/ — Insurance providers are now able to evaluate customer health risks in real-time using a revolutionary contactless wellness and vital sign monitoring solution from NuraLogix. 

The application allows insurance providers to quickly perform a customer health check during the online interview process using a web-browser. The NuraLogix technology uses a conventional video camera to extract blood flow information from the face, in a patented process called Transdermal Optical Imaging (TOI™), resulting in more than 30+ medical grade health and wellness measurements.

The NuraLogix technology was available for demonstration at the America’s Health Insurance Plans (AHIP) show in Las Vegas, Nevada from June 21 to 23.

The benefits of integrating a vital sign monitoring system into the insurance evaluation process are numerous: reduced costs of underwriting a policy, no nurses needed to conduct physical examinations or take fluid samples, improved compliance with the terms of lower-cost standard policies to avoid price increases, and more. This technology has also been shown to create a ‘Sentinel Effect,’ reducing fraud and improving the accuracy of questionnaire responses.

The Background

Currently in the insurance industry, providers calculate premiums for users, the amount users pay in exchange for coverage. Insurance premiums are based on a wide variety of factors such as age, gender, risk, type of coverage, location, and more. Providers calculate the likelihood the user will need to use the insurance, for example, younger people are less likely to need medical care, so their premiums are generally cheaper. Integrating the NuraLogix technology into the risk evaluation process allows insurers to calculate premiums using accurate health data of the individual and potentially even provide incentives to get healthier.

About AHIP 2022

America’s Health Insurance Plans (AHIP) is the national association of nearly 1,300 members who provide healthcare insurance to more than 200 million Americans. As a national trade association in the health insurance industry, AHIP lobbies to create a more affordable healthcare system through research and policy. Their conference, AHIP 2022, (Formerly ‘Institute & Expo’) brings together the people, ideas, and solutions that guide greater health.

About NuraLogix

NuraLogix’s technology is based on extensive peer-reviewed research and clinical studies, a fact which differentiates them from their competitors. NuraLogix has conducted multiple clinical studies and published research in many notable publications such as Frontiers in Psychology, Scientific Reports, and the Journal of Natural Sciences (JNS). NuraLogix currently holds 11 patents, with more pending. Their impressive client roster includes Japanese systems integration leader NTT Data; Sanitas, the second largest medical insurance company in Spain; and Lafiya Telehealth, a Nigerian-based health telehealth platform which provides 24/7 virtual healthcare services to residents in remote and rural areas.

To Learn More:

Visit our website:
NuraLogix – https://www.nuralogix.ai/  

Disclaimers:

Note: In the United States, this product is for Investigational Use only. The performance characteristics of this product have not been established.

For Media Inquiries: Chris Lin, Chief Marketing Officer, ChrisLin@nuralogix.ai , Tel: 437-928-2666

PR Newswire

Boost, a regional FinTech firm, becomes first fully digital financier to secure investment grade A1 rating in Southeast Asia

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  • Boost looking to tap on burgeoning digital banking ecosystem within the Southeast Asian region
  • A1 rating for its Malaysian securitised receivables cements firm’s commitment towards the underserved segment securitizes financing portfolio; rating reflects the quality of portfolio underpinned by algorithmic scoring

SINGAPORE, March 22, 2022 — Boost, the leading regional financial technology (FinTech) provider, today announced that its maiden tranche of Senior Class A Medium Term Notes (MTN) has been rated A1 by Malaysia-based, RAM Rating Services Berhad (RAM Ratings) *, the leading and largest credit rating agency in Southeast Asia.

This establishes Boost as the first fully digital regional financier to receive an investment grade A1 rating for its securitised Malaysian receivables. The FinTech giant, which provides services spanning payment services, alternative lending, digital insurance, content services and merchant solutions, is the fintech arm of Bursa Malaysia-listed Axiata Group Berhad. Boost currently operates primarily in Malaysia and Indonesia.

The A1 rating was awarded on the back of a commendable non-performing financing (NPL) rate of less than 3 per cent from funds disbursed to finance Small and Medium-sized Enterprises (SME) customers’ working capital, supply chain and invoice financing to help them grow their businesses.

Commenting on the A1 rating, Sheyantha Abeykoon, Chief Executive Officer of Boost, said, "We are glad to once again, set the standard for an industry which is at a very nascent stage, but has immense potential. The A1 rating of the securitised tranche is a testament of the quality of our financing portfolio and the robustness of our alternative lending platform. Our digital-first solutions are simple and conveniently available to customers, incorporating a comprehensive e-Know Your Customer (eKYC) with a 3-minute digital application journey supported by AI and machine learning tools,"

"We anticipate this rating will help diversify our capital base, enabling us to further support more SMEs. We are wholly focused on our aspiration of championing financial inclusivity, and we are excited at the prospects of serving more SMEs as we move towards becoming a full spectrum regional fintech player," added Abeykoon.

With the ongoing digital acceleration, there lies a greater opportunity to make finance more accessible. The rating exercise further underscores Boost’s capabilities and competencies in accelerating financial inclusion through Boost Credit (formerly Aspirasi) in using robust alternative data scoring frameworks to underwrite credit. Since its inception in 2017, Boost has been striving to leverage on opportunities to further widen its reach and positively impact underserved and unserved segments.

Gurpreet Khera, Chief Business Officer of Boost Credit commented, "The A1 rating is a significant milestone in our journey of building a truly Digital Bank, and a natural progression to provide comprehensive digital financial services for the region. The rating also reflects our commitment to continuously improve our product offerings as we envision a financially inclusive ecosystem in Southeast Asia."

The securitised receivables rating provides reassurance to potential investors about Boost’s operational capability to support such exercise. It also signals to stakeholders that its products have been vetted and meet the requirements for the securitisation exercise under an A1 rating.  The rating is applicable to the Senior Class A Medium Term Notes with a tenure of 30 months, and will be issued by a Special Purpose Vehicle (SPV), Salvare Assets Berhad and reviewed on an annual basis. Boost intends to issue more MTN tranches as it grows its financing portfolio to meet the needs of SMEs.

According to a report by Fitch Ratings, titled "South-East Asia’s Fintech Landscape: Rising Digital Adoption, Large Underserved Market to Fuel Sector Growth", SEA has a population of over 580 million at end-2020, of which more than half were unbanked.

In three short years of operation, Boost Credit has disbursed more than SGD390 million (RM1.2 billion) to SMEs in both Malaysia and Indonesia. Applicants enjoy a 3-minute digital application journey with a quick approval process to meet their financial needs to grow their business.

In July 2021, Boost announced a formal partnership with RHB Bank, Malaysia’s fourth largest, fully integrated financial services group to form a consortium and bid for a digital bank license. The consortium was one of 29 formal applicants received by Malaysia’s central bank, Bank Negara Malaysia (BNM), under the Financial Services Act 2013 and the Islamic Financial Services Act 2013, following a 6-month application period which ended on 30 June 2021. It is anticipated that up to five successful applicants will be granted a license by the first quarter of 2022.

Last year, the Monetary Authority of Singapore (MAS) approved the country’s first digital banking licenses. Four licenses were issued with two each for digital full bank license (DFB) and digital wholesale bank license (DWB). In Indonesia, there are already seven digital banks and another seven are pending licences from the Financial Services Authority (OJK).

*Note for media: Established in 1990 by the central bank of Malaysia and now regulated by the Securities Commission Malaysia as part of the "institutional infrastructure" to support the development of Malaysia’s bond market, RAM has rated more than USD450 billion of bonds issued by over 750 entities.

About Boost

Boost is the fintech arm of Axiata that unifies financial services spanning payments, micro-financing, micro-insurance, cross border content services and merchant solutions. We combine deep fintech, in-house data and AI to meet growing and diverse needs of our customers and merchants across the region, with the aim of becoming a full spectrum fintech player in Southeast Asia. Our businesses are streamlined into four core brands:

Boost Life

The eWallet consumer platform that focuses on consumer lifestyle offerings such as online and offline retail payments, bill settlement, insurance and transportation & transit use cases with new features constantly introduced.

Boost Biz

The merchant business that offers a payment platform for enterprises of all sizes, business tools and digitalisation solutions.

Boost Credit      

Formerly Aspirasi, it houses the micro-financing & micro-insurance business and is a pioneering Digital Alternative financier in Malaysia and Indonesia.

Boost Connect

Formerly Apigate, Boost Connect is a global digital monetization and customer growth payment platform ecosystem provider with innovative products and services.

Users can download Boost from the Google Play Store, App Store or HUAWEI AppGallery.

For more information, check out the website at www.myboost.com.my, newsroom, or follow Boost on Facebook (facebook.com/myboostapp) and Instagram (instagram.com/myboostapp).

PR Newswire

Gefen’s new capability to increase customers share of wallet

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TEL AVIV, Israel, March 3, 2022 — Gefen (ASX: GFN) is introducing a new capability to the platform called "Managed by." The Managed by capability allows agents to retain their ownership over customers – but grant another agent or another department in the Arena access and acting rights on the customer.

Customers are agents’ most valuable asset. The agents protect and nourish them. But agents are limited in their capacity to increase the share of wallet – the customer’s coverage and variety of financial and insurance services managed by them. Each agent specializes and is sometimes licensed to sell and service a particular variety.

Agents can now collaborate on products and services, share commissions and outsource operations – while maintaining full control and visibility to what was done, when and by whom. With all calls, emails and other customer transactions kept on record in one place – the agent does not need to rely on "trust" and can maintain full ownership on their asset.

Furthermore – as the Managed by capability is tightly coupled with Gefen’s GQL AI engine (Genetically Qualitative Learners – the platform’s ability to harness expert intuition into digital decision making) – customers can go into a managed group in bulk (high potential, showed interest in a service, requires retention) based on complex business strategy and goals.

The Managed by capability is now available on all operations, on the web and mobile apps.

For further information, please contact:
Investor & Media Enquiries
Gefen International AI LTD 
Orni Daniel, Co-CEO
info@gefen.online 

PR Newswire

eBaoTech Integrates its InsureMO® with Verisk’s ISO Electronic Rating Content™ for U.S., Boosting Insurers’ Efficiency and Speed to Market

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JERSEY CITY, N.J., Feb. 24, 2022 — eBaoTech Corporation (eBaoTech), a global digital solution provider for the insurance industry, has enhanced its InsureMO® platform with the integration of the latest commercial lines rating information from Verisk. InsureMO® offers the next generation of Verisk’s ISO Electronic Rating ContentTM (ERCTM) to the U.S. market via API.

InsureMO® is eBaoTech’s platform-as-a-service (PaaS) for insurers, MGA’s, brokers, distribution channels, InsurTechs and startups to power and accelerate their innovation and connectivity to the insurance ecosystem. From nimble startups to $7 billion insurers and over 300 global implementations, InsureMO® is a proven digital insurance platform.

"We are excited about the alliance with Verisk. InsureMO® PaaS subscribers can leverage the advantages of a secure, cloud-based internet architecture for high scalability and availability, a rich set of microservices and open APIs, and configuration that supports the sales and service of products based on Verisk’s insurance policy programs," said Martin Crew, general manager, eBaoTech Americas. "I am confident that the alliance will certainly provide value to organizations that use Verisk’s rating information to develop products for the U.S. commercial market."

InsureMO® now offers on-demand capabilities from Verisk that include country and state layers plus ongoing ISO Circular updates. Verisk customers who subscribe to InsureMO® have the ability to access Verisk’s ISO Commercial Lines Program library supported by ERC today, as well as related transaction APIs, enabling them to:  

  • Create their own apps and workflow experiences
  • Embed Verisk product transaction APIs into any app, channel or distribution ecosystem
  • Use InsureMO® SaaS app offerings for a full Verisk policy management capability via out-of- the-box user experience

"This alliance with eBaoTech will help insurers boost efficiency and increase speed to market. By integrating the next generation of ERC – our innovative, cloud-based solution – insurers can benefit from automated updates to our commercial lines rating programs combined with a state-of-the-art rating and policy management solution," said Mark Sheehan, vice president and head of ratings solutions for Verisk.


 About eBaoTech

eBaoTech is a global leading technology provider for the global insurance industry. Our mission from starting in the year 2000 has been and remains to be "make insurance easy". Through hard work and full commitment to customer success, eBaoTech has built a strong client base in over 30 countries/markets, covering property and casualty, life, and health insurances. Furthermore, eBaoTech’s intense and persistent focus on addressing the fundamental pain-points of insurance technologies through deep-tech innovation has yielded significant differentiation in the global marketplace. For more information, please visit the company website at www.eBaoTech.com and the PaaS enablement site at www.InsureMO.com

About Verisk

Verisk (Nasdaq:VRSK) provides predictive analytics and decision support solutions to customers in the insurance, energy and specialized markets, and financial services industries. More than 70 percent of the FORTUNE 100 relies on the company’s advanced technologies to manage risks, make better decisions and improve operating efficiency. The company’s analytic solutions address insurance underwriting and claims, fraud, regulatory compliance, natural resources, catastrophes, economic forecasting, geopolitical risks, as well as environmental, social and governance (ESG) matters. Celebrating its 50th anniversary, the company continues to make the world better, safer and stronger, and fosters an inclusive and diverse culture where all team members feel they belong. With more than 100 offices in nearly 35 countries, Verisk consistently earns certification by Great Place to Work. For more: Verisk.com, LinkedIn, Twitter, Facebook and YouTube. 

Media Contact
Michelle Pantina
551-500-7327
michelle.pantina@verisk.com

Fiona Zhang
+1 (201) 633 6405
Fiona.zhang@ebaotech.com

 

PR Newswire

Waterdrop Inc. to Report Third Quarter 2021 Financial Results on November 30, 2021

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BEIJING, Nov. 24, 2021 — Waterdrop Inc. (NYSE: WDH) ("Waterdrop" or the "Company"), a leading technology platform dedicated to insurance and healthcare service with a positive social impact, today announced that it will report its unaudited financial results for the third quarter ended September 30, 2021, before U.S. markets open on Tuesday, November 30, 2021.

Waterdrop’s management team will hold a conference call on November 30, 2021 at 7:00 AM U.S. Eastern Time (8:00 PM Beijing/Hong Kong Time on the same day) to discuss the financial results. Dial-in details for the earnings conference call are as follows:

United States:

1-323-794-2093

Hong Kong:

852-3008-1527

Mainland China:

400-120-9101

Elite Entry Number:

1432784 #

Please dial in 15 minutes before the call is scheduled to begin and provide the Elite Entry Number to join the call.

A telephone replay will be accessible through 10:00 AM U.S. Eastern Time, December 7, 2021 by dialing the following numbers:

United States:

1-719-457-0820

International:

1-888-203-1112

Hong Kong:

852-5808-3200

Mainland China:

400-120-1651

Access Code:

1432784 #

Additionally, a live and archived webcast of the conference call will be available at the Company’s investor relations website at http://ir.waterdrop-inc.com/.

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.

For investor inquiries, please contact

Waterdrop Inc.
Xiaojiao CUI
IR@shuidi-inc.com

Christensen

In China
Mr. Eric Yuan
Phone: +86-1380-111-0739
E-mail: Eyuan@christensenir.com

In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@christensenir.com

Related Links :

http://www.waterdrop-inc.com

PR Newswire

TIAN RUIXIANG Holdings Ltd Partners with Beijing Puyuan Technology Co., Ltd. to Develop Intelligent Sales and Customer Service Systems

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BEIJING, Aug. 13, 2021 — TIAN RUIXIANG Holdings Ltd (Nasdaq: TIRX) (the "Company"), a China-based insurance broker, announced today it has entered into a strategic cooperation agreement (the "Agreement") with Beijing Puyuan Technology Co., Ltd.("BPTC"), an innovative financial service platform solution provider in China, on August 2, 2021, to develop its intelligent sales and customer service systems.

Pursuant to the Agreement, the Company agrees to give BPTC access to its insurance management platform, and BPTC agrees to provide the Company with customized artificial intelligence development services and assist the Company in building its intelligent customers service and sales systems. The parties may enter into separate service contracts in the future to determine the specific terms and services to be provided under the Agreement.

Mr. Zhe Wang, Chairman of the board of the directors and Chief Executive Officer of the Company, commented, "We are excited to partner with BPTC  as we continue to make progress in our long term strategy of upgrading and optimizing our systems to provide customers with more value-added services. We plan to build our own intelligent sales and customer service system which can help maximize profitability, increase operation efficiency, and improve customers satisfaction. Looking forward, we expect to seize the opportunity presented by the accelerating digital transformation of the insurance industry, and utilize our cooperation with BPTC to deliver more products and  services for our customers."

About Beijing Puyuan Technology Co., Ltd.

Established in February 2019, Beijing Puyuan Technology Co., Ltd. engages in exploring and deepen the practice and application of technology in financial institutions. The founding team of BPTC all graduated from top tier universities in China and aboard including Tsinghua University and Chinese Academy of Sciences. They have many years of working experience in domestic and foreign financial institutions and first-line Internet companies, and have in-depth understanding and practical experience in quantitative trading, artificial intelligence and associated fields. BPTC has built a number of products including the Caiduoyi Wealth Integrated Service Platform, Prism Investment Advising Exhibition System, Prism Smart Wealth Management Robot and Traderslink Quantitative Trading System. BPTC provides wealth institutions with a complete solution from investment research to transaction, from customer acquisition to conversion, which improves the service efficiency of investment advisory services and improves the comprehensive experience of investors. For more information, visit the company’s website at https://www.puyuan.tech/index.

About TIAN RUIXIANG Holdings Ltd

TIAN RUIXIANG Holdings Ltd, headquartered in Beijing, China, is an insurance broker operating in China. It distributes a wide range of insurance products, which are categorized into two major groups: (1) property and casualty insurance, such as automobile insurance, commercial property insurance, liability insurance; and (2) life insurance, such as individual and group life insurances. Additionally, the Company also provides risk management services to institutional customers. For more information, visit the company’s website at http://ir.tianrx.com/.

Forward-Looking Statements

All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review risk factors that may affect its future results in the Company’s registration statement and in its other filings with the SEC.

For investor and media enquiries, please contact:

TIAN RUIXIANG Holdings Ltd
Investor Relations Department
Email: ir@tianrx.com 

Ascent Investor Relations LLC
Tina Xiao
Phone: +1 917-609-0333
Email: tina.xiao@ascent-ir.com 

 

 

PR Newswire

bolttech partners with Tiki to deliver device protection plans for customers

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bolttech’s device protection plans available for devices purchased directly on Tiki’s online marketplace

HO CHI MINH CITY, Vietnam, May 4, 2021 — International insurtech, bolttech, announced its partnership with Tiki, Vietnam’s most trusted e-commerce platform. Through the partnership, bolttech’s device protection plans are available to customers when they purchase a smartphone or tablet on Tiki.

The device protection program with Tiki offers device repair and care services covering accidental and liquid breakage. It includes device replacement for the aforementioned breakage, and includes a convenient doorstep pickup and delivery service.

Mark Simmons, Chief Executive Officer of Device Protection, bolttech said: "Vietnam’s digital revolution is driven primarily by the country’s booming e-commerce industry. We are delighted to partner with Tiki, one of Vietnam’s largest all-in-one e-commerce platforms, to cater to the evolving needs of consumers in Vietnam looking to protect their devices."

In addition to the initial device protection offering, Tiki and bolttech are working to offer other protection and insurance products to Tiki’s customer journeys in the coming months. 

More information about the device protection program can be found here: https://tiki.vn/khuyen-mai/dich-vu-bao-ve-dien-thoai.

About bolttech

bolttech is an international insurtech with a mission to build the world’s leading, technology-enabled ecosystem for protection and insurance. With a full suite of digital and data-driven capabilities, bolttech powers connections between insurers, distributors, and customers to make it easier and more efficient to buy and sell insurance.

Part of Pacific Century Group, bolttech operates in 14 markets across Asia, Europe and the United States.

For more information, please visit www.bolttech.io.

About Tiki

Tiki is a top all-in-one commerce platform in Vietnam, including the no. 1 trusted e-commerce marketplace, TikiNOW Smart Logistics – an integrated supply chain platform, and Tiki Trading – a retail subsidiary.  

Tiki stands for "Tim Kiem" (Searching) and "Tiet Kiem" (Saving), which is also the vision and mission for the business: becoming a destination where Customers can search for anything they want, save their time and budget.

Starting as an online bookstore in 2010, Tiki has become a top trusted multi-selection e-commerce platform for millions of Vietnamese customers.

For more information, please visit www.tiki.vn.

Related Links :

http://www.bolttech.io