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Huize Holding Limited (NASDAQ: HUIZ) is a premier digital insurance product and service platform catering to new-generation consumers in China. The company operates an independent online platform that distributes insurance products underwritten by its partnered insurance companies. These insurer partners rely on Huize to connect with a large clientele through various internet and mobile channels.
Huize offers a digitalized insurance purchasing experience, backed by AI-powered tools and data-driven insights. The platform supports the entire insurance life cycle, from consultation, user engagement, marketing, and risk management to claims services. The company targets mass affluent consumers, providing a comprehensive range of insurance products and one-stop services that streamline the transaction process.
Recent achievements include the launch of products like “Darwin Critical Care No.9” and “i Wu You – Low-Threshold Edition,” which are designed to provide extensive coverage and flexible options for customers with various health conditions. The company also recently announced its participation in the 14th Annual LD Micro Invitational, reflecting its active engagement in the financial community.
Financially, Huize generates revenue from the brokerage fees paid by its insurer partners. The company's strong focus on leveraging technology and data analytics has positioned it as a leader in the insurance technology sector in China. Partnerships with prominent insurance carriers further bolster its market position, enabling it to offer innovative and customer-centric products.
For the latest updates and more information, please visit Huize’s Investor Relations page.
Huize Holding Limited (NASDAQ: HUIZ) announced its subsidiary, Huize Digitech, has achieved DCMM Stable Class Level-3 certification, a national standard in China for data management maturity. This certification, supported by the Ministry of Industry and Information Technology, aims to enhance data management capabilities for companies. CEO Cunjun Ma emphasized Huize's 16 years of technology investment in areas like big data and cloud computing, aiming to promote digitalization in the insurance industry and improve accessibility to insurance protection.
Huize Holding Limited (NASDAQ: HUIZ) announced a partnership with Ruihua Health Assurance to launch "Guardian Critical Care No.5," a comprehensive critical illness insurance product. This insurance covers 120 severe illnesses and allows multiple claims—up to 900% of the original sum assured. Optional benefits are also available for severe malignant tumors and critical illnesses occurring before age 60. The launch aims to meet the increasing demand for diverse insurance products among younger consumers in China, addressing a market gap following regulatory changes in 2021.
Huize Holdings Limited (NASDAQ: HUIZ) announced a partnership with Heng An Standard Life Insurance Company to launch a new annuity product named 'Jin Zhi Qi Hang.' This tailored insurance product is designed to assist families with their children's education expenses. Key features include annual benefit payouts for higher education, options for returning premium upon maturity, and flexible coverage periods. Huize’s CEO emphasized the company's commitment to meeting evolving consumer demands through innovative products available nationwide in China.
Huize Holding Limited (NASDAQ: HUIZ), a digital insurance platform in China, announced it was identified by the SEC under the Holding Foreign Companies Accountable Act on May 4, 2022. This identification is due to the use of an auditor whose working papers cannot be fully inspected by the PCAOB. Should this situation persist for three consecutive years, Huize's shares may face trading prohibition in the U.S. The Company is actively exploring solutions to safeguard stakeholder interests and is committed to complying with relevant regulations.
Huize Holding Limited (NASDAQ: HUIZ) announced the filing of its annual report on Form 20-F for the fiscal year ending December 31, 2021, with the U.S. SEC on April 27, 2022. The report is accessible on both the SEC’s website and the Company’s investor relations site. Huize is a digital insurance platform in China, focusing on life and health insurance products targeted toward younger consumers. The Company aims to enhance the insurance experience through digital services, including intelligent underwriting and claims assistance.
Huize Holding Limited (NASDAQ: HUIZ) announced a share repurchase program allowing for the buyback of up to US$5 million in Class A common shares over the next 12 months. This decision, approved by the Board of Directors, aims to enhance shareholder value and reflects confidence in Huize's long-term growth prospects. The buybacks are to be funded from the company's existing cash reserves and will occur under various market conditions, ensuring compliance with applicable regulations.
Huize Holding Limited (NASDAQ: HUIZ) reported robust financial results for the fourth quarter and full year ended December 31, 2021. Gross Written Premiums (GWP) increased by 90.2% in Q4 2021 to RMB1,990.9 million, and by 66.2% year-over-year to RMB5,018.2 million for the full year. Operating revenue in Q4 surged 151.6% to RMB976.3 million, and 84.0% for the year at RMB2,245.0 million. Despite these gains, net loss for 2021 was RMB107.7 million. The company also announced a share repurchase program of up to US$5 million.
Huize Holding Limited (NASDAQ: HUIZ) announced plans to release its fourth quarter and full year 2021 financial results on March 18, 2022, before market opening. The Company will host a conference call at 8:00 A.M. Eastern Time on the same day to discuss the results. Registration is required to participate, with a link provided. Huize focuses on digital insurance services for the younger generation in China, offering tailored life and health insurance products through its platform, enhancing client experience with intelligent solutions.
Huize Holding Limited (NASDAQ: HUIZ) has released its 2021 'Xiao Ma Claim' Service Annual Review, highlighting its impressive performance in claims assistance. The company handled a total of 43,000 claims, with a settlement amount of RMB570 million—up 135% year-over-year. Notably, the 'Flash Claim' program allowed for settlements within 1 working day for many cases. Key trends revealed that critical illness claims were prevalent among women aged 31-40, while children aged 0-6 dominated medical claims. The CEO stressed ongoing improvements in technology and customer service to enhance user experience.
Huize Holding Limited (NASDAQ: HUIZ) has announced the termination of its planned acquisition of a controlling stake in Hubei Shengs Life & General Insurance Agency Co., Ltd. due to delays in closing. The termination will take effect on January 28, 2022, and the company will incur no termination fees as a result. The acquisition was initially agreed upon on September 24, 2021, through a subsidiary of Huize. The company, a digital insurance platform in China, focuses on providing long-term life and health insurance products to younger consumers.
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