Huize Partners with Guofu Life to Launch “Darwin Critical Care No. 6”

Rhea-AI Summary

Huize Holding Limited (NASDAQ: HUIZ) announced a partnership with Guofu Life Insurance to launch the "Darwin Critical Care No. 6" insurance product. The plan offers coverage for 110 critical illnesses, 25 moderate illnesses, and 50 mild illnesses. Key features include reinstatement benefits after the first claim and optional benefits for severe malignant tumors. CEO Cunjun Ma emphasized the product's flexibility to meet increasing demand for critical illness coverage among younger consumers. Guofu Life, founded in 2018, holds strong solvency ratios and a Class B risk rating.

Positive

• Launch of "Darwin Critical Care No. 6" enhances product offerings.
• Coverage for 110 critical illnesses increases market competitiveness.
• Optional benefits respond to rising health concerns among younger adults.
• Partnership with a solid insurer like Guofu Life enhances credibility.

Negative

• None.

SHENZHEN, China, Jan. 06, 2022 (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 that it has partnered with Guofu Life Insurance Co., Ltd. (“Guofu Life”) to launch “Darwin Critical Care No. 6”, the latest critical illness insurance product iteration in the Darwin Critical Care series that offers a comprehensive range of optional protection benefits.

There are four key product highlights of “Darwin Critical Care No. 6”: (i) extensive coverage for 110 critical illnesses, 25 moderate illnesses, and 50 mild illnesses; (ii) coverage reinstatement benefits after the first claim of critical illness and optional critical illness benefits of up to 100% of the insured amount, until age 60; (iii) optional benefit of “unlimited number of claims” for severe malignant tumors upon meeting specified requirements as detailed in the insurance clauses; and (iv) other optional benefits including death and total disability benefits, and supplemental coverage for severe malignant tumors and specific cardiovascular diseases.

Mr. Cunjun Ma, Chairman and Chief Executive Officer of Huize, commented, “The launch of ‘Darwin Critical Care No. 6’ again demonstrates our digital capabilities in deploying deep customer insights to co-develop customized insurance products with our insurer partners. This latest product in the innovative Darwin Critical Care series provides comprehensive optional benefits to increase coverage and flexibility, particularly with respect to severe malignant tumors and specific cardiovascular diseases, which are becoming increasingly common among younger-aged adults. Looking ahead, we believe there is substantial room for greater demand for critical illness coverage, and we will continue to explore and develop more innovative products to meet the evolving protection needs of our users.”

About Guofu Life Insurance Co., Ltd

Founded in 2018, Guofu Life Insurance Co., Ltd. is a nationwide life insurance company with a registered capital of RMB1.5 billion. In the third quarter of 2021, its core and comprehensive solvency ratios were above 150%, and it was rated Class B in China’s comprehensive risk rating for insurance companies.

For more information, please visit https://www.e-guofu.com.

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
+852 3180 9207 
investor@huize.com

Media Relations 
mediacenter@huize.com

Christensen
In China
Ms. Constance Zhang
Phone: +86 138-1645-1798
E-mail: czhang@christensenir.com

In U.S.
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@ChristensenIR.com 

FAQ

What is the new insurance product launched by Huize (HUIZ)?

Huize has launched the "Darwin Critical Care No. 6" insurance product in partnership with Guofu Life.

What illnesses does the Darwin Critical Care No. 6 cover?

The product provides coverage for 110 critical illnesses, 25 moderate illnesses, and 50 mild illnesses.

When was the partnership with Guofu Life announced?

The partnership was announced on January 6, 2022.

What are the key features of the Darwin Critical Care No. 6 insurance?

Key features include reinstatement benefits after the first claim, optional benefits for malignant tumors, and extensive illness coverage.

How does Huize's new product address market demand?

The product aims to meet the growing demand for critical illness coverage among younger consumers.