(Yicai Global) Nov. 3 -- Chinese internet giant Tencent Holdings Ltd. [HKG:0700] has officially commenced operations of its first insurance agency platform, WeSure Internet Insurance Ltd. (Wesure), the company said in a press briefing yesterday.
WeSure will work with well-known domestic insurance companies to provide users with high-quality insurance services.
Users can make insurance purchases, inquiries and claims directly through national-level platforms on the firm’s vastly popular instant messaging and lifestyle platform WeChat and its popular instant messaging platform QQ.
The first healthcare product available on the platform is WeMedicare Insurance, developed through cooperation with Taikang Life Insurance Co., covering users for up to CNY6 million in expenses based on a minimum premium of only CNY100. It also provides rapid medical services related to serious illnesses, including deposit-advance services in public hospitals across 36 cities in China.
WeSure chief executive Liu Jiaming has been recently heavily involved in the Tencent’s establishment of China's first Internet bank, WeBank. He holds a double master's degrees in Engineering and Economics from Oxford University. He previously worked at McKinsey & Company, before officially joining Tencent in 2016.
"WeSure is an important means for Tencent to develop its internet-finance ecosystem, and is expected to become a platform facilitating close cooperation with the insurance industry," said Tencent chief executive, Ma Huateng.