Core Insights - The third "Management Change and Corporate Sustainable Development" international academic conference was held, focusing on "AI Development and Corporate Continuous Innovation" with nearly 300 experts and representatives attending [1] - Waterdrop Company won the Global Best Case Brand Award for its contributions in the field of inclusive protection, with 11 companies recognized out of over 100 nominees [1][4] - Waterdrop Company is a leading insurance technology and healthcare platform in China, established in 2016, aiming to provide health protection solutions [2] Company Overview - Waterdrop Company operates multiple businesses including Waterdrop Fundraising, Waterdrop Insurance, Yifan Medicine, Waterdrop Finance, and Luhang Wuyou, creating a diverse service ecosystem [2] - Since 2019, Waterdrop has invested nearly 300 million yuan annually in technology research and development to address supply-side issues in insurance using AI [2] - By the end of 2024, Waterdrop had applied for 48 patents related to its self-developed "Waterdrop Water Guardian Model" and had over 100 authorized patents in AI [2] Product Innovation - The "Waterdrop Water Guardian Model" enhances the insurance service chain by providing professional, accurate, and easy-to-understand advice for insurance agents and users [3] - Waterdrop has launched inclusive products like "Good Pregnancy" and "Medical Insurance" to meet the differentiated protection needs of elderly, sick, and pregnant groups [3] - As of 2025, Waterdrop Insurance had launched 214 sick body insurance products, with 34 being domestic firsts, and an average of 1.14 days to launch a new product [3] Social Impact - Waterdrop Fundraising has facilitated medical assistance, with approximately 4.8 billion people donating around 70 billion yuan to over 3.54 million patients by June 2025 [3] - The company aims to create user value through inclusive protection and plans to focus more on this area while leveraging AI technology [4]

Core Viewpoint - Meituan's new pension insurance subsidy program for delivery riders aims to enhance social security coverage nationwide, allowing riders to choose their insurance location and providing a 50% subsidy on contributions [2][4][10]. Group 1: Social Security System for Delivery Riders - The new pension insurance subsidy will cover all delivery riders across the country, addressing a significant gap in social security for this workforce [2][4]. - The program is designed to be inclusive, with benefits available to all types of riders, potentially impacting millions [2][10]. - The current social security system for delivery riders is already more advanced than that of many blue-collar workers [5][26]. Group 2: Comparison with Other Platforms - JD.com has adopted a different approach by providing full social security benefits for its full-time riders, but this excludes part-time riders [7][8]. - Meituan's model is more inclusive, allowing riders to self-select their participation in the pension scheme, thus accommodating the high percentage of part-time riders [12][13]. Group 3: Structure of the Social Security Program - Meituan's program consists of a "three-tier" structure: a basic safety net, an advanced support network, and a work benefits network [16][17]. - The basic safety net includes pension insurance subsidies and new occupational injury insurance, which has already covered over 13 million riders [17][18]. - The advanced support network offers additional benefits such as serious illness assistance and family coverage, extending support beyond just the riders [18][21]. Group 4: Flexibility and Sustainability - The program emphasizes flexibility and sustainability, recognizing the diverse and transient nature of the delivery rider workforce [12][13][28]. - Meituan's approach combines shared cost structures among the platform, riders, and government, ensuring long-term viability [28][31]. - The design of the program allows for a basic coverage for all while offering optional advanced benefits, catering to individual needs [28][32]. Group 5: Industry Impact and Future Outlook - The improvements in income and social security for delivery riders have positioned them among the top tier of blue-collar workers in China [26]. - Meituan's model serves as a potential template for addressing social security for other flexible employment groups, demonstrating a viable alternative to traditional models [32][33]. - The gradual and pragmatic approach taken by Meituan reflects a commitment to long-term improvements in social security for delivery riders, moving from "zero coverage" to a more comprehensive system [33][34].