Millions Rush to Join a Wild New Health Plan From Jack Ma's Ant
- Xiang Hu Bao attracts 50 million people within a few months
- The company hopes to have 300 million users in two years
The Alipay application.
Photographer: Anthony Kwan/BloombergThis article is for subscribers only.
Billionaire Jack Ma’s Ant Financial has done more than perhaps any company to disrupt China’s gargantuan banking and asset-management industries. Now it’s trying to re-imagine health insurance.
Ant’s Xiang Hu Bao, which means mutual protection, has attracted 50 million people since its October inception, or more than five times the population of New York City.