Huize Partners with Guolian Life Insurance to Launch “Xiao Tao Qi No.1” – A Customized Child Critical Illness Insurance Product

Rhea-AI Summary

Huize Holding Limited (NASDAQ: HUIZ) has partnered with Guolian Life Insurance Co., Ltd. to introduce "Xiao Tao Qi No.1," a tailored critical illness insurance product aimed at children. This new offering covers 183 illnesses and includes key features such as optional hospitalization benefits and additional ICU coverage. Company CEO Cunjun Ma highlighted their commitment to innovative, customer-focused insurance solutions that help families manage hefty medical expenses. Huize continues to enhance its product lineup, reinforcing its position in the competitive digital insurance market in China.

Positive

• Launch of 'Xiao Tao Qi No.1', a critical illness insurance product tailored for children.
• Comprehensive coverage for 183 different illnesses.
• Includes optional benefits such as hospitalization and ICU coverage, enhancing product appeal.

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• None.

SHENZHEN, China, Feb. 16, 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 that it has partnered with Guolian Life Insurance Co., Ltd. (“Guolian Life Insurance”) to launch “Xiao Tao Qi No.1”, a comprehensive and cost-effective critical illness insurance product customized for meeting children’s protection needs.

“Xiao Tao Qi No.1” provides extensive coverage for 183 severe, moderate and mild illnesses. Three key product features differentiate the new offering: (i) optional hospitalization benefits of up to 30% of the insured amount (daily benefits of up to 0.1% of the insured amount) for accidents or diseases suffered by policy beneficiaries in the aftermath of a diagnosed critical illness (ii) optional additional ICU hospitalization benefits of up to 30% of the insured amount for up to 50 hospitalization days per policy year for diseases other than the severe, moderate and mild illnesses specified in the policy contract; (iii) other optional benefits including death and total disability benefits, supplemental medical care benefits, and multiple critical illnesses claims and extensive coverage for malignant tumors.

Mr. Cunjun Ma, Chairman and Chief Executive Officer of Huize, commented, “Since launching the first customized critical illness insurance product for children in 2017, we have continued to co-develop comprehensive, cost-effective, and differentiated critical illness insurance products to meet children’s diverse protection needs. “Xiao Tao Qi No.1” further demonstrates our competitive edge in designing customer-centric products that help families cope with huge hospitalization expenses and reduce the financial burden of severe illnesses in children. Looking ahead, we will continue to drive product innovation as a way of meeting the lifetime insurance needs of our new generation consumers.”

About Guolian Life Insurance Co., Ltd

Founded in 2014, Guolian Life Insurance Co., Ltd. is a nationwide life insurance company approved by the China Insurance Regulatory Commission with a registered capital of RMB2 billion. The shareholders are composed of large state-owned and private enterprises such as Wuxi Guolian Development (Group) Co., Ltd.

For more information, please visit https://www.guolian-life.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 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 the new insurance product launched by Huize (HUIZ)?

Huize has launched 'Xiao Tao Qi No.1', a critical illness insurance product designed specifically for children.

What are the key features of 'Xiao Tao Qi No.1' from Huize?

'Xiao Tao Qi No.1' offers coverage for 183 illnesses, optional hospitalization benefits, and ICU coverage.

When was 'Xiao Tao Qi No.1' announced by Huize?

'Xiao Tao Qi No.1' was announced on February 16, 2023.

How does 'Xiao Tao Qi No.1' help families financially?

The product is designed to reduce the financial burden of severe illnesses and extensive hospitalization expenses for families.

Which company partnered with Huize to launch the new insurance product?

Huize partnered with Guolian Life Insurance Co., Ltd. to launch 'Xiao Tao Qi No.1'.