WeChat’s latest viral hit in China: health insurance
A collaboration between Tencent and Taikang Life Insurance allows WeChat users to receive various amounts of health insurance protection
While 1,000 yuan is not a substantial amount for those facing a serious illness, users who pay one yuan through WeChat Payments can opt to share the promotion on WeChat Friends Circle, the app's Facebook Timeline-esque page.
Once the promotion is shared, whenever a friend clicks on it and and pays one yuan for him or herself, that person’s previously registered friends will receive an additional 1,000 yuan (or 300 yuan, depending on age) in protection.
Taikang caps an individual’s total protection value at 10,000 yuan (HK$ 13,000).
Techweb writes that the insurance only covers malignant tumors - a condition that likely affects a small percentage of the 18-39 age group and indicates that WeChat is primarily using this insurance scheme as a promotional method.
The company creates insurance policies specifically designed to cover e-commerce, virtual property, social networking and other assorted online transactions.
This article was originally reported by Tech in Asia and was edited and republished with permission.
Additional reporting by Jeremy Blum