Huize’s “Chang Xiang An No.2” Long-Term Medical Insurance Product Wins “Annual Popular Commercial Health Insurance Product” Award from Today Insurance

By Globe Newswire Published on November 18, 2024, 16:25 IST

SHENZHEN, China, Nov. 18, 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 its long-term medical insurance product “Chang Xiang An No.2” won the “Annual Popular Commercial Health Insurance Product” award given by Today Insurance, China’s leading insurance news platform, during the “2024 Today Insurance Annual Insurance and Health and Wellness Service Awards”.

“Chang Xiang An No.2” is one of Huize’s flagship products, developed in collaboration with Ping An Health Insurance Company of China, Limited (“Ping An Health Insurance”). This product provides comprehensive healthcare services with several key value propositions, including: (i) extensive inpatient medical coverage with a maximum total claim of up to RMB8 million and guaranteed renewability for 20 years based on the “Chang Xiang An” series; (ii) specialized rehabilitation coverage for expenses incurred during hospitalization and within 180 days post-discharge for nine specific conditions, including stroke, primary Parkinson’s disease, and brain injuries, with annual coverage of up to RMB20,000; (iii) streamlined application processes with an extended eligibility age of up to 70 years and the option to insure parents-in-law, along with family discounts of up to 15% for multi-member policies; (iv) a diminishing deductible benefit that reduces by RMB1,000 annually for claim-free years, down to a minimum of RMB5,000; and (v) enhanced value-added services that include hospitalization assistance, medical escort services, advance hospital payments, and unique first-year complimentary services such as at-home prostate and HPV screenings, child attention assessment tests, elderly bone density tests, and 24/7 access to family doctors.

“We believe effective product upgrades should be reliable, address customer needs, provide seamless claims processing, offer flexible options and have a human-centric design,” said Mr. Cunjun Ma, Chairman and Chief Executive Officer of Huize. “Recent regulatory adjustments to drive the high-quality development of the insurance sector provide a clear pathway to drive sustainable growth by integrating insurance with health and wellness services. Winning the ‘Annual Popular Commercial Health Insurance Product’ award is a testament to growing public recognition of our innovative capabilities and the high standards we uphold with the ‘Chang Xiang An’ series of products. Huize remains committed to delivering high-quality insurance products and services that enhance the health protection and wellbeing of our customers.”

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.

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