Huize Announces Strategic Partnership with Ping An Health Insurance and the Joint Launch of “Chang Xiang An” – A Customized Long-term Medical Insurance Product

Rhea-AI Summary

Huize Holding Limited (NASDAQ: HUIZ) announced a strategic partnership with Ping An Health Insurance on March 24, 2023. The collaboration includes the launch of 'Chang Xiang An,' a long-term medical insurance product designed for consumers' long-term protection needs. Notable features of this product include guaranteed renewals for 20 years, eligibility for household members up to 70 years, and access to 20 comprehensive healthcare management services. Huize's CEO, Cunjun Ma, expressed confidence in the partnership's potential to enhance product customization and customer engagement in the health insurance market.

Positive

• Strategic partnership with Ping An Health Insurance enhances market presence.
• Launch of 'Chang Xiang An' addresses long-term medical insurance needs.
• Product features guaranteed renewals for 20 years, appealing to consumers.

Negative

• None.

SHENZHEN, China, March 24, 2023 (GLOBE NEWSWIRE) -- Huize Holding Limited, (“Huize”, the “Company” or “we”) (NASDAQ: HUIZ), a leading digital insurance product and service platform for new generation consumers in China, today announced the signing of a new strategic partnership agreement with Ping An Health Insurance Company of China, Limited (“Ping An Health Insurance”). In addition, the two companies also announced the launch of “Chang Xiang An”, a cost-effective long-term medical insurance product customized to meet consumers’ long-term protection needs.

Compared with other offerings in its category, “Chang Xiang An” features strengthened protection in three key areas: (i) long-term protection: guaranteed policy renewals for 20 years to provide customers with peace of mind over the long run; (ii) designed for the entire household: with a maximum eligibility age of 70, discounts on family subscriptions, and family deductible benefits; and (iii) comprehensive healthcare management services: providing customers with full-spectrum health and medical protection through access to 20 major healthcare management services.

Mr. Cunjun Ma, Chairman and Chief Executive Officer of Huize, commented, “We are pleased to announce the establishment of a strategic alliance between Huize and Ping An Health Insurance and the launch of our first co-developed product “Chang Xiang An” long-term medical insurance. We believe the strategic partnership will capitalize on Ping An Health Insurance’s extensive expertise in the health insurance market and Huize’s in-depth customer insights and digital operation capabilities. We look forward to accelerating our cooperation with Ping An Health Insurance in the fields of insurance product customization and promotion, customer engagement, and health management service going forward.”

About Ping An Health Insurance Company of China, Limited

Founded in 2005, Ping An Health Insurance Company of China is a subsidiary of Ping An Insurance (Group) Co. of China Ltd. with a registered capital of RMB500 million. Major businesses of Ping An Health Insurance include all types of health insurance business, accident insurance business, healthcare consulting services and reinsurance business for health insurance companies.

For more information, please visit https://health.pingan.com/en/index.shtml.

About Huize Holding Limited

Huize Holding Limited is a leading digital insurance product and service platform for new generation consumers in China. Targeting the younger generation, Huize is dedicated to serving its insurance clients for their life-long insurance needs. Leveraging its online platform, Huize offers a wide variety of insurance products with a focus on long-term life and health insurance products and empowers its insurer partners to reach a large fragmented client base in the insurance retail market efficiently and enhance their insurance sales. Huize provides insurance clients with digitalized insurance experience and services, including suitable product recommendations, consulting service, intelligent underwriting, and assistance in claim application and settlement, which significantly improve transaction experience.

For more information, please visit http://ir.huize.com.

For investor and media inquiries, please contact:

Investor Relations
Harriet Hu
Investor Relations Director
investor@huize.com

Media Relations
mediacenter@huize.com

Christensen Advisory
In China
Ms. Crystal Lai
Phone: +852 2117 0861
Email: crystal.lai@christensencomms.com

In U.S.
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: linda.bergkamp@christensencomms.com

FAQ

What is 'Chang Xiang An' launched by Huize and Ping An Health Insurance?

'Chang Xiang An' is a long-term medical insurance product with guaranteed renewals for 20 years and benefits for entire households.

When was the partnership between Huize and Ping An Health Insurance announced?

The partnership was announced on March 24, 2023.

What are the key features of the 'Chang Xiang An' insurance product?

Key features include long-term protection, eligibility for household members up to age 70, and access to 20 healthcare management services.

How does the partnership benefit Huize's business?

The partnership leverages Ping An's expertise to enhance product customization and customer engagement in health insurance.

What stock symbol does Huize Holding Limited trade under?

Huize Holding Limited trades under the stock symbol HUIZ.