China’s second-largest online health insurance mutual platform “Waterdrop Mutual” issued an announcement to its members on the same day, announcing that its mutual plan will be officially terminated at 18:00 on March 31 this year, Reuters reported on March 26.
It is reported that after Ant Group’s Mutual Treasure, “Waterdrop Mutual” has more than 100 million members, and its affiliate “Waterdrop Fundraising” has received $230 million in financing from Swiss Re and Tencent, and is preparing to go public in the United States.
The report cited a study released by the China Banking Regulatory Commission in September last year, which showed that authorities believe that mutual treasure, water drop mutual and other network platforms have a large number of members and are non-licensed operations, the risks involved in the crowd should not be ignored, part of the front fee model platform to form a precipitated funds, there is a risk of running away, if not handled properly, the management is not in place may also lead to social risks.
“Waterdrop mutual aid” Friday in its official website announcement, said the unfortunate diagnosis of serious illness in the platform before the shutdown of members, can continue to launch applications to the platform within 180 days from the date of diagnosis; members account balance, the platform will be launched within 5 days from Friday to refund; also in the mutual protection of members, the protection plan can be changed to optional For members who are still in mutual protection, the protection plan can be changed to “one-year health insurance with a maximum coverage of 500,000 yuan”, and the premium will be borne by the platform.
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