Huize Partners with New China Life Insurance to Launch “Bliss No.2” – A Customized Lifetime Annuity Insurance Product
Huize Holding (NASDAQ: HUIZ) has partnered with New China Life Insurance Company to launch 'Bliss No.2', a customized lifetime annuity product. This upgraded addition to the 'Bliss' series aims to meet the growing demand for diversified retirement solutions in China. Key features include:
1. Rapid cash value growth
2. Flexible annuity start times
3. Simplified underwriting process
4. Complimentary care services
The product is designed to provide flexible and stable financial planning in response to China's gradual retirement age extension. With a low minimum annual premium of RMB2,000, it offers broad accessibility. Huize's CEO, Cunjun Ma, emphasized the product's alignment with China's retirement reforms and the company's commitment to providing comprehensive wealth and health protection solutions.
Huize Holding (NASDAQ: HUIZ) ha collaborato con New China Life Insurance Company per lanciare 'Bliss No.2', un prodotto di rendita vitalizia personalizzato. Questa nuova aggiunta alla serie 'Bliss' mira a soddisfare la crescente domanda di soluzioni pensionistiche diversificate in Cina. Le caratteristiche principali includono:
1. Crescita rapida del valore in contante
2. Tempi di inizio rendita flessibili
3. Processo di sottoscrizione semplificato
4. Servizi di assistenza gratuiti
Il prodotto è progettato per fornire pianificazione finanziaria flessibile e stabile in risposta all'estensione graduale dell'età pensionabile in Cina. Con un premio annuale minimo di RMB2.000, offre una vasta accessibilità. Il CEO di Huize, Cunjun Ma, ha sottolineato l'allineamento del prodotto con le riforme pensionistiche cinesi e l'impegno dell'azienda a fornire soluzioni complete di protezione patrimoniale e sanitaria.
Huize Holding (NASDAQ: HUIZ) se ha asociado con New China Life Insurance Company para lanzar 'Bliss No.2', un producto de anuidad vitalicia personalizado. Esta nueva adición a la serie 'Bliss' tiene como objetivo satisfacer la creciente demanda de soluciones de jubilación diversificadas en China. Las características clave incluyen:
1. Crecimiento rápido del valor en efectivo
2. Tiempos de inicio de anuidad flexibles
3. Proceso de suscripción simplificado
4. Servicios de atención gratuitos
El producto está diseñado para proporcionar una planificación financiera flexible y estable en respuesta a la extensión gradual de la edad de jubilación en China. Con una prima anual mínima de RMB2.000, ofrece una gran accesibilidad. El CEO de Huize, Cunjun Ma, destacó la alineación del producto con las reformas de jubilación de China y el compromiso de la empresa de ofrecer soluciones integrales de protección de patrimonio y salud.
Huize 홀딩스 (NASDAQ: HUIZ)는 뉴 차이나 생명보험 회사와 협력하여 'Bliss No.2', 맞춤형 평생 연금 상품을 출시했습니다. 'Bliss' 시리즈의 이 업그레이드된 추가 제품은 중국에서 다양화된 은퇴 솔루션에 대한 증가하는 수요를 충족하는 것을 목표로 합니다. 주요 특징은 다음과 같습니다:
1. 빠른 현금 가치 성장
2. 유연한 연금 시작 시점
3. 간소화된 인수 프로세스
4. 무료 돌봄 서비스
이 제품은 중국의 단계적인 퇴직 연령 연장에 대응하여 유연하고 안정적인 재정 계획을 제공하도록 설계되었습니다. RMB2,000의 낮은 최소 연간 보험료로 넓은 접근성을 제공합니다. Huize의 CEO인 Cunjun Ma는 이 제품이 중국의 은퇴 개혁과 일치하며, 포괄적인 자산 및 건강 보호 솔루션을 제공하기 위한 회사의 약속을 강조했습니다.
Huize Holding (NASDAQ: HUIZ) s'est associé à New China Life Insurance Company pour lancer 'Bliss No.2', un produit de rente viagère sur mesure. Cette nouvelle addition à la série 'Bliss' vise à répondre à la demande croissante de solutions de retraite diversifiées en Chine. Les principales caractéristiques incluent :
1. Croissance rapide de la valeur de rachat
2. Délais de début de rente flexibles
3. Processus de souscription simplifié
4. Services d'assistance gratuits
Le produit est conçu pour fournir une planification financière flexible et stable en réponse à l'augmentation progressive de l'âge de la retraite en Chine. Avec une prime annuelle minimale de 2 000 RMB, il offre une large accessibilité. Le PDG de Huize, Cunjun Ma, a souligné l'alignement du produit avec les réformes de retraite en Chine et l'engagement de l'entreprise à fournir des solutions complètes de protection du patrimoine et de la santé.
Huize Holding (NASDAQ: HUIZ) hat eine Partnerschaft mit New China Life Insurance Company geschlossen, um 'Bliss No.2', ein maßgeschneidertes lebenslanges Rentenprodukt, auf den Markt zu bringen. Diese verbesserte Ergänzung zur 'Bliss'-Serie zielt darauf ab, der wachsenden Nachfrage nach diversifizierten Ruhestandslösungen in China gerecht zu werden. Zu den wichtigsten Merkmalen gehören:
1. Schnelles Wachstum des Barwerts
2. Flexible Rentenbeginnzeiten
3. Vereinfachter Underwriting-Prozess
4. Kostenlose Betreuungsdienste
Das Produkt wurde entwickelt, um flexible und stabile Finanzplanung als Reaktion auf die schrittweise Anhebung des Rentenalters in China zu bieten. Mit einer niedrigen jährlichen Mindestprämie von RMB2.000 bietet es eine breite Zugänglichkeit. Der CEO von Huize, Cunjun Ma, betonte die Übereinstimmung des Produkts mit den Rentenreformen in China und das Engagement des Unternehmens, umfassende Vermögens- und Gesundheitslösungen anzubieten.
- Partnership with New China Life Insurance to launch a new annuity product
- Product designed to meet growing demand for retirement solutions in China
- Rapid cash value growth potential within 4-6 years
- Flexible annuity start times for customized retirement planning
- Simplified underwriting process with no health declaration required
- Low minimum annual premium of RMB2,000 for broader market accessibility
- Complimentary care services for policies purchased before December 31, 2024
- None.
Insights
The launch of "Bliss No.2" by Huize and NCI is a strategic move in China's evolving retirement insurance market. With rapid cash value growth and flexible annuity options, this product addresses the growing demand for diversified retirement solutions. The low entry barrier (
"Bliss No.2" showcases Huize's agility in product innovation and its strong partnership with a major insurer like NCI. The product's design aligns well with China's gradual retirement age extension policy, potentially capturing a significant market opportunity. The rapid cash value growth feature is particularly attractive in the current low-interest-rate environment. However, this also poses a challenge for the insurer to maintain profitability over the long term. The simplified underwriting process, while customer-friendly, may increase the risk of adverse selection. The success of this product could strengthen Huize's position in the insurtech space, but it's important to monitor customer adoption rates and claim ratios to assess its long-term viability and impact on Huize's bottom line.
The launch of "Bliss No.2" is a timely response to China's demographic shifts and retirement policy changes. With China's aging population and the government's focus on improving retirement planning, this product could tap into a significant market need. The flexible annuity start times cater to diverse consumer preferences, potentially broadening the product's appeal. The added value of complimentary care services aligns with the growing demand for comprehensive health and wealth solutions. However, the success of "Bliss No.2" will depend on consumer education and trust in long-term financial products, which has been a challenge in the Chinese market. Huize's digital distribution capabilities could be a key differentiator in reaching and educating potential customers. Investors should watch for adoption rates across different age groups and income levels to gauge the product's market fit and growth potential.
SHENZHEN, China, Sept. 19, 2024 (GLOBE NEWSWIRE) -- Huize Holding Limited, (“Huize”, the “Company” or “we”) (NASDAQ: HUIZ), a leading insurance technology platform connecting consumers, insurance carriers and distribution partners digitally through data-driven and AI-powered solutions in Asia, today announced that it has partnered with New China Life Insurance Company Limited (“NCI”) to launch “Bliss No.2”, a customized lifetime annuity product. This upgraded product is the latest addition to the “Bliss” series and is designed to meet the growing demand for diversified retirement solutions by providing flexible and stable financial planning, in response to China’s gradual retirement age extension.
“Bliss No.2” offers several key value propositions: i) rapid cash value growth, where the policy’s cash value can potentially exceed the paid premiums within just 4-6 years, depending on the payment method chosen; ii) flexible annuity start times with options for payouts after 5 or 10 years, or when they reach the age of 60 or 70, providing flexibility in retirement planning; iii) a simplified underwriting process with no health declaration required, broad occupational eligibility, and a low minimum annual premium starting at just RMB2,000; and iv) up to 5 years of complimentary care services for policies purchased before December 31, 2024, including disease consultation, hospital escort services, home nursing care, and other value-added benefits.
Mr. Cunjun Ma, Chairman and Chief Executive Officer of Huize, commented, “We are pleased to launch ‘Bliss No.2’ at a time when the Chinese market is undergoing a significant shift in retirement planning, driven by national policies that prioritize stability and risk management. As China’s retirement age reforms continue to unfold, we are poised to capitalize on the growing demand for secure, long-term financial products by leveraging our partnership with NCI to deliver a comprehensive solution that brings together our shared expertise in customized insurance offerings, digital distribution capabilities, and trusted brands. We believe ‘Bliss No.2’ will help our customers plan for their retirement with confidence, flexibility, and the security they need. This product reflects our commitment to providing holistic, long-term solutions for wealth and health protection, while contributing to the sustainable development of China’s retirement insurance landscape.”
About New China Life Insurance Company Limited
Founded in 1996 and headquartered in Beijing, New China Life Insurance Company Limited (“NCI”, SSE: 601336; HKEX: 01336) is a nationwide life insurance company with annual gross written premiums of over RMB160 billion and total assets of over RMB1.4 trillion. NCI has over 1,700 subordinate entities, offered life insurance products and services to 31.99 million retail customers and 83,000 institutional customers, and possesses robust, established nationwide marketing and service networks. The Company has promoted the development of old-age care and healthcare industries and enhance assets management operations to support the development of its core life insurance business.
For more information, please visit https://www.newchinalife.com/.
About Huize Holding Limited
Huize Holding Limited is a leading insurance technology platform connecting consumers, insurance carriers and distribution partners digitally through data-driven and AI-powered solutions in Asia. Targeting mass affluent consumers, Huize is dedicated to serving consumers for their life-long insurance needs. Its online-to-offline integrated insurance ecosystem covers the entire insurance life cycle and offers consumers a wide spectrum of insurance products, one-stop services, and a streamlined transaction experience across all scenarios. By leveraging AI, data analytics, and digital capabilities, Huize empowers the insurance service chain with proprietary technology-enabled solutions for insurance consultation, user engagement, marketing, risk management, and claims service.
For more information, please visit http://ir.huize.com or follow us on social media via LinkedIn (https://www.linkedin.com/company/huize-holding-limited), Twitter (https://twitter.com/huizeholding) and Webull (https://www.webull.com/quote/nasdaq-huiz).
For investor and media inquiries, please contact:
Investor Relations
Kenny Lo
Investor Relations Manager
investor@huize.com
Media Relations
mediacenter@huize.com
Christensen
In China
Ms. Dee Wang
Phone: +86-10-5900-1548
Email: dee.wang@christensencomms.com
In U.S.
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: linda.bergkamp@christensencomms.com
FAQ
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