MetLife forms strategic digital insurance partnership with Tencent’s WeSure
In Action Summary
In China, Metlife and Tencent’s digital insurance provider WeSure have joined hands to provide travel insurance to travelers through WeSure’s online insurance platform. The collaboration helps Metlife to go beyond its long-term protection product offerings in China and underlines MetLife’s determination to improve customer experience through omni-channel options for the digital age.
The partnership provides Metlife with access to WeSure’s one billion monthly active users in addition to allowing WeSure members to benefit from Metlife’s life and health products. This partnership also enables both parties to collaborate in fields such as big-data analysis, tailor-made insurance policies, and intelligent value-added services to deliver easier to use, more transparent end-to-end protection solutions for Chinese travelers.
Tencent Insurance Platform WeSure Through WeChat and QQ
In terms of launch status, the first offering is an aviation accident insurance cover with a focus on providing tailored customer experience, protection level, and price.
Siyi Sun, MetLife China CEO said: “MetLife China is dedicated to providing life and health protections through career agency, telemarketing, digital channels and bank partners. This partnership with WeSure is our answer to customers’ needs for simpler, more transparent, fast, and convenient experiences in the digital era. Our collective resources and competencies will ensure customers have the right products and services that are easy to access and use.”
Ultimately, this initiative is yet another example of Tencent flexing its muscles with regard to the insurance industry. Although Tencent has thus far been content to co-operate with insurers, essentially acting as a broker, it is only a matter of time before Tencent establishes its own digital insurer.
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