Waterdrop Inc..
WDH.US | Activities of insurance agents and brokers
Waterdrop Inc. is an online direct-to-consumer (DTC) insurance platform based in China. The company operates primarily as an intermediary, connecting users with insurance products from various insurance companies. Waterdrop facilitates the purchase of insurance policies through its online platform a...Show More
Better Health for All
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Waterdrop Inc.'s core business, encompassing its Huiminbao insurance products, medical crowdfunding platform, and "Waterdrop Blue Ocean" critical illness insurance, provides substantial health benefits. Huiminbao products, such as Beijing Huiminbao, insured over 3 million customers with RMB 3 million annual coverage for a RMB 195 premium, targeting middle to low-income residents and seniors.
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The company's medical crowdfunding platform has cumulatively supported 3.47 million patients with RMB 68.8 billion in donations.
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Additionally, "Waterdrop Blue Ocean" provides critical illness insurance for individuals with pre-existing conditions, covering 193 illnesses.
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The company's operations do not generate revenue from products or activities with negative health outcomes.
Fair Money & Economic Opportunity
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Waterdrop Inc. operates as an online insurance platform and medical crowdfunding service. As the company does not offer lending or debt products to consumers, the KPIs related to fair lending compliance and customer debt burden ratio are not applicable. The company is not regulated as a lender, and there is no history of fair-lending findings. Similarly, since it does not provide debt products, there is no customer debt-to-income ratio to evaluate.
Fair Pay & Worker Respect
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The provided articles do not contain specific, quantitative data points for any of the KPIs under the 'Fair Pay & Worker Respect' value. While mentions the launch of a second employee engagement survey, it does not provide an engagement score or any other measurable outcome required for scoring the 'worker_engagement_score' KPI.
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Other articles are financial reports, general ESG report announcements without detailed content, or inaccessible, and do not detail employee compensation, benefits, safety, or labor relations metrics.
Fair Trade & Ethical Sourcing
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Waterdrop Inc. reported no substantiated forced or child labor incidents in its 2023 ESG Report.
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The company also achieved a 100% signing rate for suppliers' anti-commercial bribery commitment letters.
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Due to its business model as an online insurance and healthcare platform, the company does not procure or trade physical commodities, making fair trade certification, supply chain traceability, and materials risk index not applicable. Similarly, there is no supplier base requiring welfare or sourcing audits for physical goods, and no significant violations were reported, meaning remediation processes were not required.
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Information regarding supplier diversity spend is not available.
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Honest & Fair Business
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The provided articles do not contain specific, quantitative data points for any of the defined KPIs related to Honest & Fair Business. Information includes the appointment of Chen Lin as an independent director
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. Additionally, a class action lawsuit alleging securities fraud and market abuses related to Waterdrop Inc.'s May 2021 IPO was filed
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, but the court dismissed the case, and the appeal was decided in favor of the dismissal on February 6, 2024
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. No evidence was found regarding regulatory fines, transparency index scores, whistleblower policies, financial restatements, audit coverage, ESG controversy scores, complaint resolution times, the percentage of conflict-free board members, anti-corruption policies, or third-party verification of ethical claims.
Kind to Animals
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Waterdrop Inc. is primarily a service-oriented company in insurance and healthcare. For its physical products, such as ROHO candles and Microdrink, the company states they are 100% vegan
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and produced without animal testing.
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CrueltyFreeInvesting.org also lists Waterdrop Inc. as having "No Animal Exploitation".
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This indicates that the company has no animal inputs in its product lines, no animal husbandry or captive operations, no animal-related suppliers, and sources no animal products like eggs, meat, or dairy. Furthermore, no live animals are used in testing, and the company has a policy of producing ROHO products without animal testing.
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The company's operations do not involve animal agriculture or animal-free R&D collaboration. Waterdrop supports Sea Shepherd for marine wildlife conservation,
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but no measurable impact data is available.
No War, No Weapons
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Waterdrop Inc. operates as an online direct-to-consumer insurance platform and provides healthcare services. Its core business activities, including RMB 2.772 billion in net revenue for 2024, are derived from insurance marketplace and digital clinical trial services.
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There is no indication of revenue from arms or defense contracts in the provided information.
Planet-Friendly Business
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Waterdrop Inc. reported total greenhouse gas emissions of 402.22 tons of CO₂ equivalent in 2024.
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, representing a 33.32% year-on-year reduction in operational greenhouse gas emissions.
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The company had no significant environmental compliance violations in 2023.
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Waterdrop has established and is improving a climate change management system by referring to the Task Force on Climate-Related Financial Disclosure (TCFD) framework, systematically screening potential climate risks and integrating climate risk management into its overall risk management system.
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The company completed the UN Global Compact's Climate Ambition Accelerator program, which is for setting science-based emission reduction targets.
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Respect for Cultures & Communities
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No specific, quantifiable evidence was found in the provided articles for any of the KPIs related to 'Respect for Cultures & Communities' for Waterdrop Inc. (WDH.US). The summary of the 2023 ESG Report for WDH.US explicitly states that it 'lacks specific details on cultural sensitivity and community engagement metrics'.
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Information regarding 'Waterdrop Filter' and its partnerships for clean water is not explicitly stated as a company-wide initiative for Waterdrop Inc., an online insurance platform, and is therefore not applicable.
Safe & Smart Tech
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Waterdrop Inc. demonstrates strong performance in preventing algorithmic harms, achieving a 98% relative decline in malicious fundraising risk through its AI recognition functions.
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The company has a formal approach to AI ethics, with its 'Waterdrop Guardian' LLM obtaining algorithm registration with the Cyberspace Administration of China in 2024.
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Waterdrop has also secured significant privacy and security certifications, including ISO 27001, third-level national information security level protection, and the Personal Financial Information Protection Capability Certification.
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,
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Privacy considerations are integrated into its development process, as evidenced by Personal Information Security Compliance Management Measures that run through the entire information processing lifecycle.
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However, the company faced an administrative penalty in August 2023 for conducting insurance business in areas where it lacked branches, indicating a gap in regulatory compliance, despite other efforts such as its Medical Crowdfunding platform being designated a government-approved service and stated compliance with national cybersecurity and privacy laws.
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,
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Zero Waste & Sustainable Products
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Waterdrop's polypropylene (PP) blisters are 100% recyclable, and the company operates a take-back program allowing customers to return blisters to stores for points.
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The company's packaging design achieves a 98% reduction in plastic and CO2 emissions compared to pre-filled beverages, with the plastic for a 12-pack being slightly larger than a bottle cap.
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Waterdrop also demonstrates high material efficiency by refining fruit and plant ingredients to a 28th of their original weight.
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The company has several waste reduction initiatives, including recycling production waste
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and a pledge to collect and recycle one plastic bottle from the environment for each 12-pack sold.
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Customers are informed about blister recycling options.
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No waste disposal violations were reported.
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