Almond Doctor and ZhongAn Insurance Announce Strategic Partnership and File IPO Prospectus

Xingren Doctor and ZhongAn Insurance have entered into a strategic partnership to launch medical malpractice insurance (hereinafter referred to as “Medical Malpractice Insurance”). This coverage encompasses offline consultations, online consultations, multi-site practice, and other areas, providing comprehensive protection for medical practitioners. After April, the coverage limit will be increased to RMB 160,000.

Mandatory medical liability insurance for hospitals can be described as the healthcare sector’s equivalent of compulsory motor vehicle liability insurance. It is reported that this insurance now basically covers all tertiary public hospitals across China; the plan was to extend coverage to all public hospitals and 80% of primary healthcare institutions by 2020. Medical liability insurance is typically purchased by hospitals on behalf of their physicians and is widely regarded as an effective technical measure to mitigate medical disputes and prevent violent incidents against medical personnel. Once insured, in the event of a medical accident or unforeseen incident at the hospital, both patients and healthcare providers can engage insurers, third-party appraisal agencies, or mediation bodies to clarify liability and obtain compensation through the claims process. For physicians, medical liability insurance serves more like a protective talisman, providing additional security as they practice medicine and save lives.

In recent years, the vigorous development of mobile healthcare has been fundamentally underpinned by the efficiency and convenience that mobile internet brings to medical services. Insurance is an indispensable component of the medical service ecosystem. The integration of mobile healthcare with insurance undoubtedly serves as the most powerful external driver for enhancing both the quality of medical services and consumer experience. The collaboration between Xingren Doctor and ZhongAn Insurance has once again sparked heated discussion within the industry.

Insurance services can provide a certain level of medical risk coverage for chronic diseases, critical illnesses, surgeries, and other conditions. Xingren Doctor will collaborate with ZhongAn Insurance to develop new insurance products, determine insurance periods and pricing, and pioneer a new chapter in commercial medical insurance through an innovative “Mobile Healthcare + Insurance” model, thereby enhancing patients’ healthcare service experience. By leveraging the professional advantages of commercial insurance institutions, this approach not only plays a significant role in alleviating information asymmetry and disputes between doctors and patients but also utilizes the premium adjustment mechanism of commercial health insurance to positively incentivize cost control and risk management, effectively reducing unreasonable medical expenditures.

Since its establishment in September 2014, the Xingren Doctor platform has undergone three phases of development. It began as a doctor-patient communication tool for market entry, evolved into a professional development platform for physicians by the end of 2015, and has now grown into a career development partner for every doctor. Always starting with the goal of building trust between doctors and patients, Xingren is committed to fostering more harmonious doctor-patient relationships. To date, Xingren Doctor has earned the recognition of 400,000 real-name verified physicians and has successfully helped over 4 million patients resolve longstanding issues inherent in traditional healthcare models, such as difficulties in accessing medical care.

Xingren has established branches in 34 cities across China, with a workforce of 573 employees. As of March 2016, the Xingren Doctor app had covered 38,395 hospitals nationwide, boasting 388,968 real-name verified physicians. Among these, 41.52% were affiliated with 1,080 Grade A Tertiary (San Jia) hospitals, 67.22% came from hospitals at Grade II or above, and 47% held the title of Attending Physician or higher.

As China’s first internet-native insurance startup, ZhongAn Insurance has articulated its corporate vision through CEO Chen Jin: “ZhongAn aims to provide insurance with warmth and insurance oriented toward the future.” Born in the era of internet finance, ZhongAn has addressed comprehensive funding needs across diverse industries and scenarios, rapidly emerging as an industry benchmark. For ZhongAn, striving to evolve from a mere component of the broader “Internet Plus” landscape into a distinctive “ZhongAn Plus” ecosystem necessitates deep and meticulous engagement in mobile healthcare—a step that is both essential and pioneering. The strategic partnership between ZhongAn and Xingren (Almond) carries exceptional significance and fulfills a widely anticipated mission, holding profound implications for both the mobile healthcare sector and the insurance industry.