Shen Lan Bao

Shen Lan Bao (深蓝保) is a life and health insurance brokerage and product comparison platform serving individual consumers in China. Founded in 2018 and headquartered in Shenzhen, the company evaluates and compares over 4,000 insurance products across life, critical illness, medical, accident, cancer prevention, and annuity categories, operating under national insurance brokerage licenses issued by Chinese regulators.

The platform connects licensed advisors with consumers through personalized insurance planning, digital policy management, and lifetime claims assistance. Its Gold List program publishes monthly product rankings updated for more than 60 consecutive months, and its educational podcast earned an industry media award in 2024.

In 2023, Waterdrop Inc. (NYSE: WDH) acquired Shen Lan Bao for RMB 360 million. The company now operates as a wholly-owned subsidiary with its results consolidated into Waterdrop's financial statements. The platform serves more than 2.87 million cumulative users through its WeChat mini-program and has accumulated over 10 million followers across channels.