March 31, 2018
Global Life and Health insurer MetLife and WeSure, digital insurance provider owned by Tencent, announced a strategic partnership to offer insurance solutions to travellers through Tencent’s WeSure online insurance platform.
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WeSure Chairman, Alan Lau and Siyi Sun, CEO of MetLife China. (Photo: Business Wire)
This alliance marries WeSure’s extensive base of 1 billion monthly active users on Tencent’s mobile social communications platform, WeChat, with MetLife’s global expertise in life and health protection solutions, and enables both parties to collaborate in fields such as big-data analysis, tailor-made and intelligent value-added services to deliver easier to use, more transparent end-to-end protection solutions for Chinese travellers.
MetLife has been accelerating its digital footprint through collaboration with well-established online platforms in China to develop new products and services, and this partnership underlines MetLife's determination to improve customer experience through omnichannel options in the digital age.
“MetLife China is dedicated to providing life and health protections through career agency, telemarketing and digital channels and bank partners. The partnership with WeSure is our answer to customers’ needs for simpler, more transparent, fast, and convenient experiences in the digital era,” said Siyi Sun, CEO of MetLife China. “Our collective resources and competencies will ensure customers have the right products and services that are easy to access and use.”
The partnership’s first solution is an aviation accident insurance product which will be provided on the WeSure platform and focus on an optimized customer experience, protection level and price. According to the Annual Report of China Domestic Tourism Development 2017, the number of domestic travellers in China reached 4.5 billion in 2016, with a steady year-on-year growth of 15%. The simple, cost-effective solution is a truly differentiated offering in the travel accident insurance segment.
Alan Lau, Chairman and CEO of WeSure, said “WeSure would like to connect insurance company and end users. On the one hand, we collaborate with leading insurance companies to develop competitive products and make it simple for users to find quality products. On the other hand, by serving the user via Tencent’s WeChat now and QQ platform in future, we are to deliver more user-driven products and services.”
Since entering the market in 2004, MetLife China has been committed to providing long-term protection products for customers while operating its business according to strict corporate governance and robust risk management systems. The company continues to see healthy growth, underpinned by solid financial performance including guaranteed solvency capability and a growing track record of customer satisfaction.
About Sino-US United MetLife Insurance Company Limited
Sino-US United MetLife Insurance Company Limited (MetLife) was incorporated as a joint venture company formed by a subsidiary of MetLife, Inc. and Shanghai Alliance Investment Ltd. (SAIL). Supported by the MetLife companies' experience in the insurance industry and SAIL's expertise in the Chinese market, MetLife is committed to provide the trusted and professional insurance solutions to consumers in China. MetLife offers life and accidental insurance and savings products to individuals over twenty cities in China through its career agency, bank partners, direct & digital Marketing. For more information about MetLife, please visit the company's website at www.metlife.com.cn.
SAIL is a state-owned investment company affiliated to Shanghai National Capital Bureau. By fully utilizing its resources and strengths, SAIL is focused on the investment in the financial services and high-tech industries. SAIL contributes to the national economic growth by committing itself to promote industry innovation and development in Shanghai, as well as national growth.
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.