Waterdrop Inc. Releases 2023 ESG Report: Balancing AI Innovation and Social Responsibility

Waterdrop Inc. Achieves "A" ESG Rating with Focus on AI and Social Responsibility

Waterdrop Inc., a leading insurance and health service solutions provider, has released its Environmental, Social and Governance (ESG) Report for 2023, showcasing significant progress in corporate governance, technology innovation, and social responsibility. The company's ESG rating has improved to "A", placing it among industry leaders for the first time 1

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Substantial Investment in AI and R&D

In 2023, Waterdrop Inc. invested RMB 299 million in research and development, demonstrating its commitment to technological innovation 1

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. The company has made significant strides in applying emerging digital technologies to its products and services, with a particular focus on artificial intelligence:

1. Deployed the "Waterdrop Guardian" large language model, specifically designed for the insurance sector, covering various business scenarios including consulting, underwriting, and claims settlement 1

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2. Developed an "AI Insurance Consultant" to enable autonomous real-time communication with users and improve interaction efficiency 1

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3. Created the "Waterdrop Insurance Marketplace*Bangbang" claims service system, which achieved a 99% coverage rate for claims interpretation using "AI + manpower" function by December 31, 2023 1

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Intellectual Property and Innovation Protection

Waterdrop Inc. has shown a strong commitment to protecting its innovation outcomes:

1. Obtained 38 authorized patents, 132 registered trademarks, and completed 20 copyright registrations in 2023 1

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2. Successfully passed the qualification review of "National Intellectual Property Advantage Enterprise" 1

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3. Included in Beijing's first batch of "Demonstration Base for Trade Secret Protection" 1

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Contributions to Multi-tiered Medical Protection System

Leveraging its industry insights and technological advantages, Waterdrop Inc. has made significant contributions to improving healthcare accessibility:

1. Participated in the construction of multi-tiered medical protection systems such as "Jin Qing Bang" and "Hai Hui Bang" 1

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2. By the end of 2023, 1,003 patients had applied for assistance through the "Hai Hui Bang" platform, with total multi-level medical assistance reaching RMB 13.5 million 1

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3. The "Jin Qing Bang" application in Jinyun County, Zhejiang Province, conducted 5.5 million automatic screenings, identified 13,000 patients with high out-of-pocket medical expenses, and facilitated social participation in relief funds totaling RMB 11.5 million 1

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Rural Revitalization and Healthcare Initiatives

Waterdrop Inc. has expanded its efforts to support rural communities and improve healthcare access:

1. Donated Waterdrop Rural Revitalization Insurance to 1,471 villagers in Zhongtanbao Village, Yingxiu Town, Wenchuan County, Sichuan Province, with a total sum insured of RMB 280 million 1

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2. Established 139 rural clinics across 12 provinces through the "Waterdrop Rural Clinics" initiative, benefiting more than 500,000 people 2

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Environmental Initiatives

In line with its commitment to sustainability, Waterdrop Inc. has taken steps to address environmental concerns:

1. Actively responded to the "dual carbon" strategy by advocating for green offices and reducing operational carbon emissions 1

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2. Became a member of the Private Enterprises Green and Low Carbon Development Alliance 1

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Shen Peng, Founder and CEO of Waterdrop Inc., emphasized the company's commitment to providing quality and inclusive insurance and health service solutions while actively practicing sustainable development concepts 1

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. The company's efforts in balancing technological innovation with social responsibility have not only improved its ESG performance but also contributed significantly to the development of the insurance industry and healthcare accessibility in China.