WeSure Launches 'Yaoshenbao': A 1-Yuan Anti-Cancer Specialty Drug Insurance Plan with Record-Breaking Conversion Rate Within 7 Days of Launch

VCBeat (WeChat ID: vcbeat) has learned that on April 25, WeSure, Tencent’s insurance platform, partnered with Taikang Online and Magnesium Health (Meixin Jiankang), a subsidiary of Shanghai Pharmaceuticals Group, to launch the “MediGuard·Specialty Anti-Cancer Drug Coverage Plan” (hereinafter referred to as “MediGuard”), which was warmly received by users upon its release.

According to data released by WeSure on May 8, “Yao Shen Bao” achieved an insurance conversion rate four times that of its flagship product, Wei Yi Bao, within just seven days of its phased rollout, making it the most popular hit product since WeSure’s launch.

In 2018, the film *Dying to Survive* reshaped public awareness of cancer and specialized anticancer drugs, while also highlighting that “high costs” and “limited access” to medications have become two prevalent challenges faced by individuals diagnosed with cancer.

As Tencent’s insurance platform, WeSure inherits Tencent’s internet DNA and its positioning as a “connector,” linking users, insurance companies, and pharmaceutical suppliers. By integrating the pharmaceutical supply chain, WeSure launched “Yao Shen Bao” (Drug God Insurance), whose in-kind drug reimbursement model pioneered a new commercial insurance payment paradigm. Simultaneously, WeSure introduced the “Yao Shen Bao Special Drug Coverage Public Welfare Assistance Program,” actively embodying Tencent’s mission and vision of “Tech for Good” through its exploration of charitable insurance initiatives.

Liu Jiaming, Executive Director and CEO of WeSure, Introduces the “Yao Shen Bao” Product

“In recent years, I have continuously received letters from fellow cancer patients sharing their hardships and urging me to advocate for the inclusion of more specialized anticancer drugs in the national social insurance scheme. Many of them had purchased commercial insurance, yet coverage for these specialized anticancer medications remained limited, ultimately leaving them to bear the high costs out-of-pocket. The annual expense, amounting to hundreds of thousands of yuan, was simply unbearable.” As a cancer patient himself, Lu Yong—the real-life prototype for the protagonist in the film *Dying to Survive*—has profound personal insights into the challenges of accessing anticancer drugs.

For cancer patients represented by Lu Yong, medication is life itself; their most urgent wish is to access affordable “life-saving drugs.” However, addressing post-diagnosis medication access is a massive systemic endeavor that requires the concerted efforts of all stakeholders.

On the one hand, the state is accelerating the approval process for specialty anti-cancer drugs, enabling more of these medications to reduce in price and be included in the National Reimbursement Drug List. On the other hand, commercial insurers and mutual aid organizations are continuously strengthening their focus on cancer patients by launching various cancer coverage products. Nevertheless, challenges such as limited reimbursement rates for anti-cancer drugs under national medical insurance, difficulties in reimbursing out-of-hospital medication expenses, and insufficient coverage intensity remain unresolved, leaving a certain protection gap for specialty anti-cancer drugs.

Based on this, WeSure has broken away from traditional insurance product structures by launching “Yao Shen Bao,” an innovative standalone drug coverage plan. This initiative addresses the critical pain points faced by healthy individuals who, upon being diagnosed with cancer, struggle with the affordability, accessibility, and continuity of anticancer medications. The basic version, priced at just RMB 1 per month, covers all 12 high-cost specialized anticancer drugs currently excluded from the social security reimbursement list, providing users with a two-year supply guarantee and related services for these specialized drugs following a cancer diagnosis. The upgraded version offers a three-year medication coverage period, with premiums starting at RMB 6 per month. It covers all specialized anticancer drugs currently approved for introduction in China, and its coverage scope will be automatically updated to include newly approved specialized anticancer drugs in sync with national regulatory approvals.

 WeSure “MediGuard” Product Launch Ceremony

“Yao Shen Bao” offers an exceptional product experience of “social insurance + RMB 1,” serving as an effective supplement and extension to social insurance, thereby providing more inclusive services to millions of families. Meanwhile, its unique product structure enables seamless integration with commercial health insurance and crowdfunding platforms, contributing to the development of a multi-tiered medical security system.

“Yao Shen Bao” has entered into a strategic partnership with the mutual aid platform Qingsong Chou, serving as a robust demonstration of its “Crowdfunding +1” model. As strategic partners in the launch of “Yao Shen Bao,” Qingsong Chou and Qingsong Bao leverage their innovative “scenario-based marketing” approach and extensive base of health-conscious users to benefit more families. Furthermore, for each individual who insures with “Yao Shen Bao,” WeSure, Taikang, Medbanks, Qingsong Chou, and relevant pharmaceutical companies will each donate one yuan to the China Primary Health Care Foundation to support cancer patients in need of specialty medications.

“Yao Shen Bao” became a hit product on the WeSure platform within just one week of its launch, which is closely related to WeSure’s consistent adherence to the “carefully selected + customized” strategy. Leveraging Tencent’s internet DNA and the tailwind of WeChat Mini Programs, WeSure has both the responsibility and the enhanced capability to excel in providing cancer protection services. Meanwhile, the popularity of “Yao Shen Bao” also reflects the growing cancer prevention awareness among the Chinese public.

Data from WeSure indicates that the insured population for “Yao Shen Bao” is concentrated in the 26–40 age range, with an average age of just 33. This suggests that cancer prevention is no longer solely a “mandatory course” for middle-aged and elderly individuals; the trend toward younger cancer diagnoses has instilled cancer-related anxiety among those born in the 1980s and 1990s, who fear that a cancer diagnosis would impose a heavy financial burden due to substantial medical expenses. The introduction of “Yao Shen Bao” has served as a “reassurance pill,” alleviating their fears of developing cancer.

“Yao Shen Bao” users purchased an average of 1.37 policies, with over 60% of policyholders being male. Generally, as the primary breadwinners in their families, men have a deeper understanding of insurance and are more willing to invest effort in securing appropriate coverage for themselves and their loved ones. For them, high-leverage anti-cancer protection products like “Yao Shen Bao” have become a new option for building family security.

WeSure also revealed a surprising statistic: the upgraded “Medicine God Insurance” plan, starting at RMB 6 per month, is more popular than the RMB 1 version. This further indicates that users have higher demands for the scope of cancer coverage and benefit limits. When facing high-risk critical illnesses such as cancer, they prefer to establish more comprehensive protection.

On May 6, at the Second Digital China Summit, Ma Huateng, Chairman and CEO of Tencent, formally announced for the first time that he hopes “Tech for Good” will become part of Tencent’s future vision and mission. In fact, Tencent has been exploring the path of “Tech for Good” since its inception. Not only did it formally enter the public welfare sector as early as 2007, but it has also continuously leveraged its internal products to proactively assume social responsibilities and contribute to social progress. As a key component of Tencent’s internet finance ecosystem, WeSure (Weibao) is earnestly implementing this new vision and mission in its development and innovation efforts.

This point is fully corroborated by “Yao Shen Bao”’s exploration of public welfare initiatives. At the launch of “Yao Shen Bao,” WeSure partnered with the China Primary Health Care Foundation to release the “Yao Shen Bao Special Drug Coverage Public Welfare Assistance Program.” Specifically, for each individual who enrolls in “Yao Shen Bao,” or equivalently, for each policy purchased, WeSure, Taikang, Medbanks, and the relevant pharmaceutical companies each donate one yuan to the China Primary Health Care Foundation, aiming to assist cancer patients in need of specialty medications.

“Yao Shen Bao”’s unique one-yuan matching donation model not only supports future potential patients but also cares for the current cancer patient community. By adopting a “Charity +1” approach, it endows insurance with deeper social significance and reveals a more compassionate side of the industry, holding special importance for enhancing public awareness of cancer prevention and insurance coverage.

 Liu Jiaming, Executive Director and CEO of WeSure, Shares His Expectations for “Yaoshenbao”

“We aim to leverage internet-based approaches to make specialty anticancer drugs more accessible and affordable, thereby creating a mutual-aid insurance plan for these medications with participation from millions of individuals, and jointly building a multi-tiered healthcare security system,” said Liu Jiaming, Executive Director and CEO of WeSure.