WeSure

WeSure is Tencent's insurance platform. Leveraging Tencent's data-driven and social connection, WeSure works with insurance companies to design and deliver customer-centric insurance solutions. Users can do things like make insurance purchases, inquiries and claims directly on the firm's instant messaging and lifestyle platforms, WeChat and QQ.

By being hosted in the WeChat Mini Program ecosystem, a staple for most of the Chinese population, WeSure is able to access a wide pool of people via the social platform. According to the company, their product referral rate is 50%, their satisfaction rate 95.7%, and those that receive referrals are twice as likely to buy.

Today, WeSure has more than 50 million active users on the WeChat platform and has launched products in the health, auto, life and travel spaces, using partnerships to help develop new products, on average, in 1.5-2 months.

In 2018, WeSure launched a first-in-China term life and annuity product to rival the traditional term life product which offers a fixed lump sum payment in an effort to combat the family values problem in China.

The platform is now playing in the space of Vitality with the launch of "WeFit" Health Plan, a discount-reward scheme inviting WeChat's 1.1b monthly active users to save money and get fit.

WeSure's partners include Taikang Insurance, AXA and Metlife.

In November 2020, CEO Alan Lau revealed the company is moving into more complex, long-term policies such as life and wealth management. It has launched a small sales team that leverages AI and digital channels to efficiently amass a customer base. Lau also revealed the company now has around 50m customers out of 100m registered users.