Waterdrop Inc. [NYSE: WDH] disclosed that its CEO and founder Shen Peng has received the Young Entrepreneur of the Year award at the ACES Awards, for bringing low-cost healthcare available to all through Waterdrop’s businesses. The motivation of Shen Peng to establish a company with strong social responsibility like Waterdrop originates from his personal career journey.
The dream of Shen for Waterdrop is to bring quality and reasonable insurance and healthcare services to billions of people through technology. He admits this will not be easy, but the advantage is that Waterdrop will be able to offer better medical services and treatments at an affordable cost to users. Moreover, the company will bring major changes to China’s insurance and healthcare industries.
Furthermore, the ACES Awards are an internationally recognized and significant annual event that acknowledges inspiring leaders, sustainability supporters, and individual companies for their contributions to the communities they serve and the world at large. This pandemic is the reason that the award ceremony was organized online. The online event has brought together the world’s most inspirational leaders from all over Asia.
Moreover, the conference summed up the accomplishments and experiences of Asian enterprises in groundbreaking innovation and sustainability over the past year and offered awards to winning companies. The vision of Shen Peng of helping people from medical payment trouble and his drive to achieve success, make him the best leader to receive the Young Entrepreneur award.
Shen entered Meituan in 2010 as a No.10 employee and worked all the way to the leader of Meituan’s a food delivery business throughout the country. During the years, Shen also witnessed some delivery staff find it difficult to pay for costly medical treatments for themselves or their families.
Shen has started a company-wide donation campaign after he was touched by the distress of one deliveryman’s mother, who had a brain tumor but cannot afford urgent surgery costs. The campaign has gathered RMB60,000 (c.US$9,000) to back the poor family. The experience encouraged Shen to help more people outside his company.
In addition, Waterdrop’s medical crowdfunding platform had collected RMB43 billion (US$5.7 billion) in donations with the help of over 372 million donors by June 2021. This donation has helped 2.1 million people with their medical bills. As for the company’s Insurance Marketplace platform, it is home to over 24.9 million paying insurance consumers.