Waterdrop Inc. Reports Exceptional 2024 Financial Performance
Waterdrop Inc., a leading technology platform in insurance and healthcare, has announced its 2024 annual report showing remarkable financial growth. The company achieved net revenue of RMB 2.772 billion and a net profit of RMB 368 million, representing a 119.8% year-over-year increase. This performance extends Waterdrop’s profitability streak to 12 consecutive quarters.
Key Financial Highlights
- Insurance business generated RMB 2.36 billion in revenue with RMB 477 million operating profit
- Medical Crowdfunding platform helped 3.4 million patients, raising RMB 67.5 billion from 470 million donors
- Digital Clinical Trials segment recorded RMB 91.1 million revenue with 10,395 patients enrolled
- AI investments of RMB 300 million annually yielded significant efficiency gains
The company’s insurance business remains the primary revenue driver, accounting for approximately 85% of total revenue. Waterdrop’s insurance marketplace has established partnerships with 102 insurers and offers 1,967 insurance products to its user base of 117.3 million.
AI-Driven Efficiency Improvements
Waterdrop’s substantial investment in AI technology has produced measurable results. The company’s AI Insurance Expert system has reduced average query resolution time by 50%, directly contributing to improved customer experience and operational efficiency. The AI implementation spans critical workflows including underwriting, renewals, claims management, and customer service.
Strategic Initiatives and Future Outlook
The company’s CEO, Peng Shen, has announced an ‘All in AI’ strategy for 2025, emphasizing continued investment in AI capabilities to drive sustainable growth. Major financial institutions, including Goldman Sachs, maintain Buy ratings and project 20% revenue growth for 2025.
Waterdrop’s capital allocation strategy demonstrates shareholder commitment through a significant share buyback program, having repurchased 52.1 million ADS for US$100 million as of February 2025. The company’s strong financial performance and technological innovation position it as a leader in the insurtech sector.
